I actually depends, how accomplished are you? D you have a good degree? How are the credentials you have looking?
If you don't got formal education for something good - the time you save at job 2 can be the time spent on getting a degree.
You're talking a difference of potentially 30 hours a week, 52 weeks a year that can go into bettering what you need to focus on, like school.
Once you got that degree nobody can take that from you.
Once you get that degree you can look at 20 hours/week $200k jobs. The rest of your life.
50-60 hours per week really leaves you with no time to do anything. If you get fired you're assed out.
Maybe you can quit after a few years to go to school, but then that's another 2-4 years of downtime after you quit and anything can happen then.
If you got all your formal education out the way, your personal brand looks good, etc. then take the higher paying job if given the choice between both.
I know a lot of people who took the high-paying job, lost it and are in a tough spot because they didn't work on themselves and are trying to coast on working at a company for a short amount of time. They getting filtered out of jobs because they don't have that piece of paper.