Is your skill set and hence potential for success just as good at the new job? You are shifting industries or sectors - are skills exactly transferable? If not, that may create some extra risk and pressures on new job, aside from the lack of network.
I moved tracks within the same company - from a high pressure "frontline" job to a very flexible "expert" job. Best decision I made in my life. Aside from the life balance argument which was a huge factor for us to start a family, I also figured out that I may not be able to make it to the highest levels on Old Job (as you grow in our company it takes a real change in skills to succeed and people who don't make it have to leave). While on New Job I am really good at what I do, and not easily replaceable.
- At Old Job I doubled my salary in 5 years. At New Job I am growing 5-9% annually, but at levels than are higher than yours, so really doesn't matter from FI perspective, and we live pretty modestly
- I usually work from home 4 days a week. Even though my husband is a SAHD, somehow juggling the kids schedules and cooking still falls to me, so being at home really helps. Can't beat the commute either
- Hours are still on the long side, yesterday I had 14 hours back to back, today more like 10 since I just stopped working for a bit and took the kids to the library
. Flexibility is everything for me and since I have no boss I manage my own time.
Short commute and hours that seem still pretty reasonable make your potential job attractive. I do think you need to figure out the risk - both the skills and the time/effort investment you need to put in to prove yourself.
Personally, if you find your current job still interesting, or if you can figure out a way to reinvent yourself and make it exciting again, I wouldn't jump ship while the kids are little. I watched yesterday my little one learn to ride a bike without training wheels - priceless!