"I'd rather take lower pay and work 40 hours/week versus a higher pay and not have a life."  
I had this conversation in an interview.  A couple years ago I was looking for a job and I had a phone interview with a company.  The interviewer said they expected their IT people to work more than 40 hours a week all the time(50 was expected).  I said I could see doing it once in a while but not all the time.  He then said that they regularly paid higher salaries than other companies in town because they know their people work more than 40 hrs week, I said no thanks.  I think that shocked him.

I've been at my current job almost 2 years now and I love it.  I get the occasional phone calls at night when things fail, not very often. And my boss let's me take that time back as 'comp' when I need it.  

At my prior job there where 8 of us on a one week rotation for on call.  Four of us on a rotation for one part of our month end processing and the other 4 on another part.  When I was 'transitioned' out several of my coworkers also got 'transitioned' out.  So all of the nightly on call and both parts of the month end processing all fell to one person.(there were others left that had been part of it, but new CIO took them off it)  To her credit she lasted a lot longer than I would have.  After just over a year she told the CIO she was done and quit.  Since then 3 other IT people have quit, 3 others transferred to a sister company.  The current staff is expected to work 50+ hours a week.  I expect more 'burn out' to come.

Life is way to short, don't put up with 40+ hour work weeks on a regular basis.  As other's have said you need that work/life balance.  Take time for yourself/family.