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I would take the market paying position*. While the 100-hour delta can be meaningful in terms of WLB, for me it wouldn’t be enough to make up for the salary compression at senior levels, especially when you include bonuses.
* the real question is how far above that 1950 associates are actually billing.
Billable minimums don’t mean anything. The work drives how busy you actually are. If you’re slow, that’s also a bad sign. Don’t let 1800-hour below market firms fool you. Firms aren’t “lifestyle” because they’re nice. If they could get more work and work you to death they would. Go market