My anecdotal evidence is the opposite. I worked extra hours and volunteered for a long time. I took responsibility for things nobody else wanted. My raises and bonuses were trivial. I had one promotion early on from entry level to midlevel. Then I was filling the role of a senior dev and a tech lead for a year each with good reviews and respect of other devs in the department (and some outside it). No promotion, still minor raises and bonuses.