[bainsfather]

Thanks for your viewpoint. It is so different from the one that I saw (which field are you from btw?)

Both times I was asked to become a referee for a journal (during phd and then postdoc), it was because someone I knew was fed up of doing it, and wanted to pass it on to someone else. I volunteered because, like you, I knew someone ought to do it and felt that I should 'give something back' - especially because I liked the journals and had published in them. It was a (minor) distraction from my research (a couple of days every few months). The definite impression that I got from my colleagues (including more senior ones) was that it had little or no relevance to my career, compared to publications. It is not impossible that I misread the situation, but I doubt it. I would prefer the situation that you describe.

Interestingly, an economist I worked with (they tend to have a very slow review process) told me about an economics journal where you had to sign up to referee 1 paper for every paper you submitted, and pay a bond to ensure you did it. Just how one would expect rational economists to do it :)