[nugator]

Yes, I agree. I work at a Swedish automotive startup with about 12 backenders. We praise each other a lot in our PR reviews and I really feel I don't need anything more than that. Getting positive feedback from a superior is not needed since I'd rather get it from people who understand exactly what I've accomplished and see the true value in it.

[hinkley]

I think that might depend on how much leadership you're seeing.

Praise from a functionary can backfire. Praise from an actual coach (not these traveling inspirational speakers who call themselves coaches) can be rewarding.

[whatshisface]

Only if your peers are deciding your compensation.

[leesec]

Some people, myself included, would prefer amiable and supportive colleagues to extra compensation.

[enjo]

You should really demand both.

[astura]

Feedback from peers is definitely taken into account for raises and promotions.