The thing is, you are actually assuming the risk that your work is not profitable.. if the work is your personal work, your employer may sack you or withhold a raise. if the work is your team's then you share the risk, unless your team is the only team and then your employer goes out of business.

It is (usually) an exploitative relationship, most just don't know it. The fact that this arrangement is the norm speaks only of the power differential and nothing of fairness. Could you imagine what would happen to management if employees got a fair share of the work they produced.. for that matter, how much of Don's profits came from his hand and how much from the advertisers and how much from Disney's distribution network? Why are advertisers paid so much and box packers paid so little?

The fact that so many of us accept this system is because we don't have the power to demand profits (or we don't know any better) and we need to eat. We just tell ourselves that we prefer to earn a little less so we don't have to worry about risk. It makes it easier to sleep at night.