Yeah, but the quest reward is generally a puzzle piece or something along those lines. The monster EXP is really inconsequential in this game. It's all about the quest rewards.
It's not that bad... at least it gives some purpose to the grind. And each there there is a bonus where if you kill a certain type of monster from the bulletin board it gives 2x exp. I did that for 2 days... and gained like 5 levels. Granted I did do monster invasion events where you're pretty much guaranteed a level.