I say this as someone who went through that exact situation: I worked at a small company for five years out of college, and was on-call for 24/7 for most of that. Someone called me on my goddamn honeymoon (which was basically the only real vacation I took during the interval) to troubleshoot a minor issue I had left explicit instructions for before I left.
They were very good with salary increases, and I didn't get more than a 5% raise out of switching jobs. But I went from working 50-60 hours a week, plus perpetual on-call, to working 40 hours a week.
I loved working there, loved the people, had a lot of fun but ... I wish I'd left years earlier. It wasn't worth it. It's hard to admit it, when you love a job that doesn't love you back. But I will never go back to working the job of two people unless I'm getting paid the salary of two people.