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*cough* your getting bent over *cough* >>
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Umm unless its your and your buddy and you are the network guy of 2 pcs and a geocities web site you are getting boned hard. >>
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LOL. No offence, but I think your dumb for taking that much responsibility for that little cash. >>
1) I'm only 16 with minimal experience (at least at the time of hiring anyway)
2) It's a fairly small company, so my work is important, but for a company of only 20 employees IT isn't the priority.
3) I only work part-time
4) Altho the pay may be low, I get loads of freedom. Choose my own hours that sort of thing.
All in all it ain't bad, but I think closer to the $10 an hour range would be more accurate. Most of my network admin buddies make 2 and 3 times what I make. I am alot more then a glorified help-desk guy, just so you know. My boss is really willing to let me use what I know and use it the way I want, and not just tell me how he wants it done; so yes it is alot of responsibility.
What kind of tech makes 40 bux an hour anyway?  
EDIT: Just so you know I'm not a "you and your buddy w/ geocities site", here's my company page. Let me know what you think of it. 
Link