Relevant: https://en.wikipedia.org/wiki/Dilbert_principle
> You put more effort, you take responsibility for stupid people's decisions, and then you get a disproportionately small reward
On that I disagree. Managers might have to take responsibility for bad decisions, sure, but get a disproportionately larger reward than those under them. It's certainly less stressful at the bottom of the ladder, but don't expect to get much praise or monetary reward, and you're the first to go as soon as something goes wrong. There's a reason why late-stage companies are full of middle managers, and few people actually doing the work.
> don't expect to get much praise or monetary reward
Yeah so I figured out that if I have a bullshit busyjob for €100k and my option is to actually start working my ass off and maybe double the salary in absolute best-case scenario, then fuck that. But I admit that my position might be exceptional.
> and you're the first to go as soon as something goes wrong.
I live in Europe so I assume I'd survive even a big fuckup as long as I'm following my manager's orders, even if HQ is American. Also, when there are bigger layoffs, they specifically by law must let go in the order of new hires to old hires, which means that I'm not in immediate danger even if they cut workforce.
The biggest danger is someone discovering that I mostly play video games at work and then giving me lots of useless tasks just to keep me occupied.