If you are fortunate enough to be raising your kids with a partner, family friendly work should be a goal for both parents. In my family, my husband does have some flexibility to take time off when needed, or work from home on occasion. His flexibility is key when we have a challenge such as a special event or a sick child.
However, for the most part he works a fairly regular schedule. Further, as an accountant he works long hours during the tax season and I often feel like a single parent. In addition to taking on a majority of childcare during tax season, I also do most of the housework. In turn, his income provides more significantly for the family.
Some families have taken a different approach to finding harmony in the world of parenting. Equally shared parenting involves each parent taking on half of the responsibilities including breadwinning, childrearing and housework. Both parents find a flexible work schedule, most likely through scaling back some, instead of one working and one staying home. Both parents also equally divide housework and childcare.
Providing both parents are capable of all of these responsibilities, this option could help both reduce stress and also increase enjoyment. (Sorry- while I know my husband is capable of childrearing, sometimes he just needs some guidance!) It is stressful to hold a majority of any of these responsibilities. If you are the primary breadwinner, you have the financial survival of your entire family on you. You can't just get frustrated and quit your job. If you hold most of the domestic responsibilities, you can also become stressed, overwhelmed and tired.
While equally sharing responsibilties in all of these areas does not guarentee an elimination of stress, it at least balances it out. Read more about this parenting philosophy at http://www.equallysharedparenting.com. The site shares the story of Marc and Amy, a couple in Boston who are practicing this approach and provide lots of advice and perspective. It is worth checking out.