Both of those are very relative. I've seen on-call which means daily events, and on-call which requires something once a year. There's a very different level of compensations I'd be happy with in each case.
Most will not accept these terms, and that's the goal.
Forcing them to think in your hours can also have the nice side effect that they get their communications in order.
Yeah this is the right answer. I know a lot of people who are earning more than I am in exchange for being on-call (or being de-facto on call, ahem) and it just ain't worth it.
You get paid 50% of your normal hourly salary for every hour you're "available".
You get paid 200% of your normal hourly salary for every hour you're working on an issue, incident, outage, or problem.
So being on-call is pretty lucrative, given that you'd usually do it for a seven day period. (i.e. 9am Monday to 9am the following Monday.)
If you don't get 10 hours continuous break before the next work day, you fall into fatigue leave and either get paid overtime for the next days work or are stood down till you have had a 10 hr break.
Still doesn't stop our operations team being completely snowed with both workday and oncall work, but they can make a fairly good bonus wage out of it.
One of my reports pointed out that he made more from on call each year than the difference between an average and outstanding performance bonus. He wasn’t wrong.
Minimum call out fee of 2 hours regardless of the length of the call.
Also in Australia. This only started when I joined as an SRE.
Prior to that the Devs just said no it'll stay broken till we come back to work and that was largely acceptable. The on call rates only started as our reliability became more of a business need.
It seems these days to just mean "multiple millions", which reduces the utility of the term.
Having a few billion gives you some additional fuck you privileges - police officers, world leaders, other billionaires -, but you probably won't get on a level where you can say that to anyone and not fear repercussions. Also, if you can live happily on your own, you can already tell them that if you have a few million to your name.
What some people struggle to realize is how easily the responsibility of an individual can scale at certain companies, without their compensation improving in the slightest. If you are working on-call and not making big bucks your company is likely milking you dry.