Back when I was in consulting, I used to think of it as a perk (as did many of my peers). Once the travel started to wear on my personal life, I ran the numbers and discovered the miles and points I was earning equated to only around $200-300 per month in cash equivalent value.
It's really surprising to me how intensely some people will pursue relatively worthless airline miles. I suppose if you're going to be traveling anyway, you might as well pick them up. But if you have the choice, it's not really worth the trade-off.
Yeah, I hate traveling for work, and if I could pick I wouldn't do it. Worse, I hate keeping track of every receipt and expensing every little thing post work travel.
This is exactly why I'm often confused about cuts to these kinds of programs from companies. The downside of people frustrated with the cut cannot be worth it from a monetary perspective. Even if you reduced how many raises you were going to give out, I think people would care less than "I no longer get upgraded for flying"
It's really surprising to me how intensely some people will pursue relatively worthless airline miles. I suppose if you're going to be traveling anyway, you might as well pick them up. But if you have the choice, it's not really worth the trade-off.