I don't give money for chores, nor do I give them allowance.
We do give them money for grades though.
$10 for every 'A' they get.
Nothing for 'B's or lower.
My younger daughter has had to live with being her sisters "younger sister", especially at school.
At home, she uses it as a competition sometimes. At present, she wants to beat her older sister's ACT score.
Older got a 32. 1st time the younger one took the test (as a practice test instead of the state mandated test) she got a 29, without studying.
As we discussed what it would take to get a 33, she asked if we wanted to bet she could get a 33...
"Sure, how much do you want to bet"
She said $40.
"Yer on!"
Then she bet my wife another $40.
Its provided her with the impetus to improve her study habits that she wasn't getting being bored with HS.
It might not be the best way to motivate a kid, but it works with her.