When I have seen this done, the amount is often inconsequential in relation to the amount of effort to be on-call. I don't love this incentive structure because

When I have seen this done, the amount is often inconsequential in relation to the amount of effort to be on-call. I don't love this incentive structure because the cost of being on-call is somewhat fixed up front. Needing to avoid being out of page coverage / availability and having a computer available is a high cost paid by the employee regardless of actual page-out workload. Paying for standby certainly helps, but I haven't seen standby pay match well with the perceived effort. Maybe some companies do this right, but higher negotiated upfront pay has appeared more effective in my experience.