I worked at a university in Florida that did this to me. I was being made to work overtime on a few software projects and making a nice little amount of extra money. Then one day I found out that I was being "promoted" to a manager title. No raise or any extra benefits, but I was no longer allowed to get overtime. It was part of a campus-wide initiative to cut costs. And now that I was a manager I was expected to work even more than before.
Year later, the day before I gave my two weeks, my boss told me I was becoming known as an 8 to 5 guy... I wasn't working enough extra hours. After I told him that he wasn't paying me enough to waste my life away at the job, he wasn't too surprised when I gave my notice the next day.