Really depends on a multitude of factors but regarding the rat race much like life itself the race is ultimately with yourself.
Studies show that after about $60k per year happiness, quality of life, and work satisfaction have no significant increase. Billionaires don’t live much better than suburban moms. The big difference is social status dopamine response which is very important if you are one of the tiny percentage of people who demand to be on the top of society. Since you are asking I assume you are not one of those people.
In my own experience I’ve lived as a homeless bum some years and other years working 24/7 making over 500k a year. In both cases so long as my basic needs were met I didn’t see much of a difference in my life. Most of my true satisfaction or misery in life has been derived from my success or failure in relationships and sense of purpose particularly when serving others.
I’ll make somewhere around 350 this year, have unlimited soft drinks, coffee, snacks, most meals provided and pick my own work location/schedule/hours with unlimited time off per year full access 24/7 hr gym /showers (I had to fight for this though) provided and access to free massage therapy though admittedly I’ve never used it. I have decent medical/dental insurance but pretty terrible vision coverage. My other benefits in LI, legal and LTD, STD are available for reasonable cost but I don’t use them. I love my job, love the people I work with and love the people and organizations I serve. Despite all this there are still people I work with who hate their the job and the turn over is surprisingly high. I work far below my educational qualifications and spend most of my time honestly reading and studying both on and off the clock.
Other factors that play an important role in my work decisions include that I’ve never carried debt, I own my own cars and houses outright, and responsible for my spouse children. I’m content in a McMansion or a homeless shelter of which I’ve done both more than once. It really is just about what you need or want in life.
As cliché as it is to say family, health, and purpose are FAR more important than my gross income on a tax return.