There is no question, money motivates people. But the value of money diminishes over time. To keep a person motivated, there needs to be more, a lot more than money. Startups hang options out as a motivational factor. But that’s even less valuable than money. Options are worthless until the option holder can realize a tangible gain from that option. Think about this as you are either looking at a place to work or looking for someone to work for you. What else do you bring to the table?
Here is a great Ted Talk by Dan Ariely that was given in 2012 in Argentina on why people work. Watch it!