I'm an hourly employee so yea once I hit 40 hours it's all OT. I kind of screwed myself out of more OT by leaving work to grab dinner. Technically I am allowed to stay at work till 1am, get paid for all that time AND expense myself a dinner (which I am doing tonight and made sure I got back in this morning at a decent time to get back on the clock). That's typically why whenever this type of work comes up, I raise my hand immediately. Also, unless I go over 70 hours, no one complains about working OT here. There's always stuff to do so I can justify my hours if need to, but no one's ever asked me to show why I work so much (or used to, I pretty much stick to 50 hours now).
On the contrast, I am not eligible for a bonus because I get compensated with OT. There's been some talk of making me salary which would increase my base but I feel like I'd be less motivated to pick up the extra work.