Taking a $49k paycut

Hi all,

Burner account, I was going to post on aushenry except don't have enough posts..so here it goes, current income is approx $195k plus super, engineering professional worked on the east coast on major infra projects.

Current job security is mixed bag as I'm in consulting it's billable hours so ups and downs and I'm not really enjoying my Worklife balance as it's cut throat and toxic workplace.

Been offered a potential role in public sector for approx $146k plus super, job security is there and with young kids + mortgage, childcare fees I feel I might go and try this out for a few years before jumping back into consulting. Even with the higher income our ccs has reduced so there's no benefit in the higher pay bracket. I've got colleagues who have set up consulting companies I could work with them and retain my income and enjoy working with them, however would mean I'll need to travel interstate for projects which I don't think is best at this stage of my life with toddlers. I prefer to spend this time with my kids and they are growing up fast, prefer not to be away. I've never previously taken paycuts, bit hesitant but frankly I don't really care at the moment about letting my current job go and would prefer stability and I think with my experience I'll be able to jump back up into the higher salary band in a few years time of even progress a bit in this organisation, however their award rates are currently low even with the updated award agreement.

WWYD?

Thanks