Actually QCE, many engineers I know work 60+ hours when they're paid to work 40, for no extra compensation or time in lieu, and then expect underlings to do the same out of some warped and misguided notion of "professionalism". For the first five years of my career, "professionalism" wasn't an ideal I aspired to, it was a whip that was used to lash my backside to compell uncompensated overtime from me. If recent grads are rejecting this mindset, good on 'em.
Employment is a contract: hours, creativity, intellect and effort in return for money and other consideration. It's not "good employee, bad corporation" or vice versa- it's "I agree to give you this quantity and quality of A in return for this quantity and quality of B". If you're stupid and give A away freely and don't expect more of B, don't expect me to share your mindset! And don't be surprised if your services are de-valued because they come at no real cost to the organization you work for.
I was lucky- I managed to find an employer who respects the contributions of their employees, realizes that we're their only real asset, and compensates us directly, monetarily, for our contribution toward the profitability of our organization. It's done fairly, in measure to the individual's real contribution rather than merely how many hours of O/T they've clocked- and it's significant- NEVER a token. And it cuts both ways: it's accepted in the light of a lower than average base salary, such that the pain of poor company performance is felt by the employees directly too. Then again, we're private so our shareholders are on-board with this system and understand its value- and it applies to all employees, not just the managers or professional staff. All employees also have some ownership position in the company, further aligning the goals of the organization with those of the employees and vice versa.
But there are thousands of engineers who work significant overtime freely because they derive so much pleasure and validation from their work that they literally expect nothing in return. These people are idiots and they're doing our profession a disservice. Worse still, there are managers who feel this way and who therefore COMPELL uncompensated overtime from their underlings. These persons are actually in violation of our provincial Code of Ethics and should be subject to disciplinary action in my opinion.
No profitable corporation is a worthy recipient of pro-bono engineering "volunteerism" of this sort! Engineers deserve compensation for their effort, no moreso nor any less so than any other employee. If you want validation from volunteerism because your life isn't full enough with family and other non-work pursuits, I can name a list of worthy charities including RedR and Engineers Without Borders who would be only too happy to accept your voluntary efforts for the benefit of those who really need them!