Developers have jobs for the money, right? If you want a developer to work hard, give them more money, right? Wrong. For many developers, money has little effect on motivation.
Being an odd creature anyhow, developers are a bit different in that the things most people seek in a job means little to most developers. A developer is motivated by a completely different set of factors, and I believe I’ve ran across a great definition of the things that really matter.
Rob Walling offers great insight in “Nine Things Developers Want More Than Money” – this is a great read, and I recommend it highly for both those that write code, and those that manage those that write code. For that matter, I highly recommend this for everybody, read it.