A much more concentrated form of bullshit.
You get paid a good wage. The company expects the sort of people who get the job done. Oh, and you work at least 9 hours. Overtime is worked out as follows ((Salary / 56 / 37.5) * (Extra Time Worked / Senior Developerness)) - Shaggerness = Overtime (Always a negative number). You wanted a form of Drewshit, you got it!