As a few others have said here, there's an incredible amount of  ignorance here regarding academic careers.  First of all, not all  academic careers. I'll give you an idea of what a couple tracks look  like in the physical sciences.
1.  Prestigious Research University
Salary: 90-120k (can go as high as 500k if you're super duper special)
Congratualtions! you've spent 6-8 years of PhD and postdoc working 60  hour weeks at 1/4 market value to get here!  Now, you're get to spend  the next five years working 70 hour weeks building up a lab from  scratch, attracting quality graduate students and convincing them that  completely wasting the first 2 years of their PhD helping you is better  than working in a more established lab.  Meanwhile, you've got to find a  way to start cranking out papers and find a half million dollars in  funding for your work.  You'll also have to teach a couple classes,  though honestly no one cares if you're any good at that, and you won't  be.  After you get tenure, you can breathe (maybe have a kid) because  they can't fire you, but now you've run out of ideas (and funding), and  will have to work equally hard managing a group of 10+, trying to make  sure you still put out enough papers to keep your name relevant.The divorce rate among these folks also seems quite high.
I'm in a PhD program, and almost everyone I know in it says this route is too much work, and they'd rather go to industry.  Those that I know in industry generally tell me life is more relaxed than their PhD was.  
2.  Liberal Arts/Small College
Salary: 60-100K
Here, you're expected to teach, but actually teach well.  You'll often teach 4 classes a semester, which is a lot more than you think.  Now, four 1 hour classes three times a week=12 hours a week in the class room.  That may not sound like much, but think about how much effort you put into an hour presentation at work.  Multiply that by 12, and you have an idea.  It will get easier with time, but you're expected to improve your lectures and develop active learning, which take a lot of time as well.
You're also expected to do research, except now you have undergrads (who have a lot less skill, knowledge, and time to contribute) and the facilities are nearly non-existent.  You're only expected to put out a couple papers a year.
This route is considered about the same level of work as industry, but at half the paycheck, you only do it if you really like teaching.
All young faculty members I've spoken to have described themselves as working 60-70 hour weeks.  Some of the older ones, once they've sort of "figured things out" have gotten it down to 40-50, but indicated it took them about 10 years to get to that point.