If you are salaried and you work overtime, you are working for free. If you're on an hourly wage and you don't get any sort of overtime pay, you're working for free.
If you are salaried and you work overtime, you are working for free. If you're on an hourly wage and you don't get any sort of overtime pay, you're working for free.
Also, people act to maximize their utility, not necessarily compensation. The act of working hard and hitting deadlines is a form of compensation in itself.
Finally, lots of people work a lazy 8 hours (with lots of time spent on the phone, Facebook, personal email) and need the extra hours to accomplish 8 hours worth of real work.
No thanks, unless I can take your company stock and flip it the same day, I'll take cash.
If pay is one's only reason, long hours for no extra pay are certainly objectionable. But that's a circular argument.
I like working long hours when it's work that I want to be doing. If people are working at something they don't want to do, maybe that is the real problem. For menial jobs that no one enjoys, there may be no easy way to fix the situation, but in an industry like tech there is little excuse for accepting it.