I do agree with you but its hard to keep morale up when you are overworked and underpaid. First one in and last one out, and smallest paycheck to boot. Not a good feeling.
Perhaps you could use this as a bargaining chip. Instead of asking your current boss for a raise, how about additional benefits:
1. How about a 30 hour work week with same level of pay instead of 40
2. More vacation
3. 4 day work week with 3 day weekend
4. Work from home
5. Additional vacation
6. Gym, Health Club, or Country Club membership
7. A secretary who makes Sammiches on request