Is the quality of work more important than money?

Select industry where you feel exciting & energised to work, trust me being after extra 3acs won't make you extra happy. Choosing an industry of your interest will make you peaceful & content. Yes it's a wise call to go for that lower paying job.

Differential does not make sense unless you tell absolute numbers. 3L difference on a 10LPA is a lot. If are around that range, select money, hop a few companies in next 5 years, be at a better package, then think about industry. Obv, dont select a industry if its very niche and no future scope

Though what I say is tangential to your question but I feel quality of life is far more important than anything else. Been in the industry for long enough to comment that a lot of people struggle with mental health in tech. Better to maintain your health first then comes everything else .

True that

Quality of work is anyday more important than money. I always miss my earlier 20lpa job as a PM in a startup vs 40lpa now in a big company. I would go back in an instant if my earlier startup calls me back at a lower pay anyday.