Career Development Opportunities Trump Pay

From Creative Class:

Forty percent of employees in a survey were more interested in career development than pay and benefits.
From the Saturday Globe and Mail:

Career development prospects top the criteria for job candidates considering a new employer, a new survey finds.
Forty percent of 1,300 respondents to a survey by staffing service Right Management Inc. said the potential for career development is the most important factor when choosing a new boss.
That was followed by work-life balance (21 percent); innovative workplace (15 percent); and competitive pay and benefits (12 percent). Only 8 percent cared most about having good rapport with their manager.

My thought here is the answer likely depends upon where you are in your life. Certainly it makes sense for younger knowledge workers to prioritize career development opportunities as an investment — pay will come later. For those with young families (especially women, as per last-week’s discussion) work-life balance may be more important. And later in life the paycheck may trump everything as retirement looms and university-aged children are needing help.
What would you prioritize?