While you are correct that, no one should have to work insane hours for less than desirable compensation, it's also true that, someone who is also willing to put in what he'll get back as compensation, won't be progressing as fast as someone who is willing to sacrifice a bit more than you. That may not always be the case, but mark my words, management always takes notes on productivity and who is willing to do the extra things. Chances are that, those only willing to put in what they get back, won't be moving into higher positions as quickly as those that put in a lot more effort.

But, you are correct in that, you shouldn't be required to work more than you are willing to do, and for the compensation which you might be offered. However, expect to get back as much as you put in and not much more.