Is it worth the effort to become an MVP? I'd answer this the same way I'd answer a question about writing a book.
It could be a nice feather in your cap, an accomplishment you are proud of, and even a way to make you more money if you can market it. Whether you're an employee or a consultant of some sort, you might be able to justify a raise or a higher billing rate with those three letters on your business card. You might not, but it's all in how you market the award.
Or it could be just a recognition of you doing something you enjoy, which is what I think it is for most of the people that have received the award. Most of the awardees that I know personally like to help people. They are the people that take time out of their lives, often personal time, to put together presentations, articles, or forum posts that will educate or inform others.
Some of us get paid for our efforts, as a part of our job, but it's often not at the expense of other work that has to be done. Often we're cramming in work at our day jobs because of time spent in the community. If you look at the hours that are spent on the activities that count towards an MVP award, likely the compensation we receive is similar to that you get while writing a book: less than minimum wage.
So is it worth it? Sure, if you would do those same things without the award.
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