There is another more controversial reason. Smart people can be lazy, they get the job done in less time and spend the rest of their time on their own intellectual pursuits. They use the pareto principle to do more with less making them highly productive but they often work shorter hours. Others in the organisation get jealous and undermine them. I can't remember where i read this but it is apparently researched.
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totally agree with you..this was me when i was a child ..now i m a looser