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Larks comments on (Virtual) Employment Open Thread - Less Wrong
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It doesn't seem like the seasonal basis of the job is inherant in night-watchmen idea - there must be lots of warehouses, etc., that need nightwatchmen. I can imagine worse things than being paid to read.
Right. In my case, the seasonality came from it being a pool - it was only worthwhile to pay nightwatchmen when it was actually filled and multi-million dollar liability existed for accidental drowning (read: middle-class teens holding drugged parties).
In a more 'real' nightwatch job, seasonality might not be a problem. On the other hand, you might have more supervision than I did. (Which was none. I saw my nominal boss once at the beginning.)
In any event, the free time was what you made of it. Akrasia was a major issue.