Honestly, any industry will have it's downsides, along with long hours.
My brother is getting his PHD at Penn State, his day, including studying, teaching classes, research, etc. can push 12/13 hours easily. He doesn't love his chosen field, so he wakes up at 4am to work on music for a few hours. (http://markarians.bandcamp.com/album/ten-means-heaven
Another brother is in the NFL. Obviously his pay is quite good, but again, he doesn't love it (he's a starcraft addict, actually). And as far as hours go, (when the NFL isn't on lockout) it's *extremely* taxing physical labor from morning to night. When they're not practicing, they're working out, and when they're not working out, they're calculating their protein intake. Because of away games, he would be away from his family for weeks at a time.
A few friends of mine are in Law school. Same story as my brother, they're in the library 13 hours a day, spending time away from their families on something they really don't love.
I have even more friends that do sales. They put in more hours than anyone else I know, and they hate their jobs more than anyone else I know.
My Dad played pro baseball for the Braves in the 80's. Again, the pay is obviously good, but I remember getting postcards from him when he would be gone for over a month at a time. We had a couple nannies that took care of us when my Mom would go on the road with him.
Now we get to me....Out of school I got my first job at Blizzard. I'm married and have a 3 year old son. Work is normal hours, and i spend plenty of time with my family. Now I know Blizzard might be a special case (I don't really know, since I haven't had a full time job anywhere else), but I have enough friends in the industry that are quite happy with their compensation and required working hours. Even my friends that crunch every day are happy and spend more time with their family than my business/law school friends.
I'm not saying the industry is perfect for everyone, and I'm sure it could get better in a lot of areas, but I do what I love to do, and that makes the biggest difference.