I agree 100%
My last company is notorious for official-unofficial on call duties.
You must remain within 30 minutes of the office, be near your cell phone and sober, 24x7. Because there is no official policy, there was no rotation, so technically I was always on call. Their official stance on compensation is that salaried employees can't get overtime, and it's covered by the annual bonus anyway. Yep, unlimited on-call & overtime covered by a ~7% bonus that pays out about 50% of the time.
I was once out of the country on a statutory holiday and didn't answer my personal cell phone (roaming would have killed me), which caused me to get reprimanded and lose my bonus for the entire year.
After some back and forward I quit soon after.
I quit after seven months. I wasn't getting paid nearly enough to go through that.
While the numbers may be off, one point I didn't make in my initial post but should have is that anybody doing on-call is providing a valuable service. It's no different than paying a babysitter to watch TV while your kids sleep. Both babysitters and devops/IT/whatever are compensated for their ability to act in case the unexpected happens. If someone's not getting paid for that, then it must not be valuable to the company to have that coverage.
Neurological surgeons had the highest median daily rate for providing on-call coverage, about $2,000 a day. Near the top of the pay scale were neurologists ($1,500), cardiovascular surgeons ($1,600), internists ($1,050), and anesthesiologists ($800).
Among the specialists earning lower median daily rates for on-call compensation were: psychiatry ($500), general surgery ($500) gastroenterology ($500), ophthalmology ($300), and family medicine without obstetrics ($300), according to the MGMA survey data.