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Aleksander comments on Things I Wish They'd Taught Me When I Was Younger: Why Money Is Awesome - Less Wrong
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Most studies I've read find that actual productivity doesn't go up much with the extra hours in the long run, especially for knowledge workers
Not as clear cut as people like to assert, see e.g.,
http://www.overcomingbias.com/2011/12/work-hour-skepticism.html
http://www.overcomingbias.com/2011/12/construction-peak-60hrwk.html
If you have data for knowledge workers specifically that paints a different picture I'd like to hear about it.
It probably differs a lot from person to person.