I have yet to see an instance where salary scaled 1:1 with time put in. Where I used to work, the people that busted their asses for 50+ hours week in and week out, showing they were "team players", might get a 6% raise at review time instead of a 2% raise for a strict 8-5 engineer. They might also get a few thousand in extra bonuses, if their department has funding for them. After a while they might get to the point where they were making enough extra to justify the effort, but "a while" could be 10 years or more.

Note that I am specifically avoiding any discussion of non-monetary considerations and that my analysis sounds rather mercenary. I am specifically trying to address the issue of engineers making more money for being expected to put in more effort. Discussion of the non-monetary considerations could be a lengthy tangent on its own.

The market doesn't work as efficiently as you imagine it does, nor could it since companies do all they can to hide what salaries actually are (i.e. imagine trying to buy fruit when nothing had prices, no one would tell you what they paid, and you had to negotiate in private for what they cost you).