The FAQ plainly states that exp penalties exist:
Quote:
What are the experience penalties/bonuses?
By Race:
Troll -20%
Iksar -20%
Ogre -15%
Barbarian -5%
Halfling +5%
By Class:
Paladin / Shadowknight / Ranger / Bard -40%
Monk -20%
Wizard / Magician / Enchanter / Necromancer -10%
Rogue +9%
Warrior +10%
There is a handy sortable class/race matrix available to peruse. One thing to note is that exp penalties are multiplied not added: a troll shadowknight would be at a 1.4 (SK) x 1.2 (TRL) = 1.68 or 68% penalty. Until the July 2010 patch the racial exp mods were slightly off. Ogres were getting the halfling bonus instead of a penalty, .etc. Full details are available here.
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If you can't take the time to read an FAQ before investing time in the game, the responsibility for being unsatisfied with experience penalties lies with you.