My company are now expecting Product Managers to be on call for incident management, outside of working hours. I don’t particularly want to do this because work/life balance (which we preach we are all about as a company…).

That being said, if it’s mandatory, do you think I am within my rights to ask for a payrise? If yes, by how much?

I am currently on £70k if that helps advise on how much more I could expect.

Thanks in advance!

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On call should be seen as a perk itself.
You will get additional compensation out of hours like half a day in lieu or payment.

It is very common on Tech and most engineers do it. Product is rare but if there are good reasons it, the manager of the product should not be concerned.

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I used to be a dev+support engineer a very long time ago. All on call employees do not get additional compensation, unfortunately. I was salaried and compensated the same as Engineers supporting applications for which there were no on call squads at all. Eventually we ended up moving to a globally distributed model where nobody had to triage stuff at odd hours , thankfully but for the couple years in the beginning it was hell on wheels.

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