Has the promise of a year-end bonus lost its spark?

Early in my career as a scientist in the corporate world, the year-end bonus felt like a golden ticket.  I'd be handed a set of targets in January, and I'd chase them hard.  Not just to meet expectations, but to exceed them.  The promise of that extra money was a big driver.

But over the years something shifted...

I noticed that after the brief rush of seeing that bonus land in my account, maybe a week of excitement, two at most, everything just returned to normal.

The grind resumed.  The motivation faded. And that "spark" I'd once felt?... Gone.

I started to question whether money was really what kept me going.  I was hitting targets, yes, but something deeper was missing.  The sense that my work meant something.  That it mattered beyond metrics.

With time, I realised that what truly motivated me wasn't the payout, it was recognition.

·       Recognition for doing meaningful, impactful work to the Business.

·       Recognition through the visible growth and success of my team.

·       Even self-recognition: knowing I was achieving goals that I had set.

This shift didn't happen overnight.  But once it did, it affected everything else - my engagement, my fulfilment, and even how I led others.

So, now I wonder:

Has this shift happened for others too?

And do companies even realise that not everybody will be motivated to 'work harder' through the dangling of the bonus as a carrot, or the threat of its removal as a stick?