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In my experience, it's that I don't want to maintain it. I've seen no real payoff.

Master's degree - worthless

Working as a tech lead and senior dev - no promotion, I'm still a midlevel

Etc

You'll only want to work hard if you're not disillusioned.

If you want a payoff for working hard, become an owner. Also, your boss will always agree with you. ;)

EDIT: "become an owner" could be a startup, a contracting firm, joining someone else as an owner, etc.

Or inherit stock ;)

Ha! Perhaps the easiest way, but you might have to wait a long time for it.

For employees this is certainly true.