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The original post says there "might" be a chance of promotion within 3 - 10 years. That is a long time for a "possible" promotion. Unless this was something I loved doing, and was passionate about, and there was a promise of some reward for the longer hours and less pay, I would be looking...

Sounds like a dud deal to me. Work harder and longer in the hope you "might" get a better position in 3 - 10 years.