Yes, it's true. My solution was to find a job programming at an excellent place to work, so that I can make sure I do valuable things and still be done with my day around 1-2pm most days. Take my dog for a walk, read, learn, whatever after that.

If they're not gonna pay you in gold get 'em to pay you in some other way. All the prestige stuff ("a seat at the table", job titles, authority, etc) isn't actually worth much anyway.