There are two different versions of the third mishna in Avot that have very different meanings. The standard text reads:

פרקי אבות א:ג

(ג) אַנְטִיגְנוֹס אִישׁ סוֹכוֹ קִבֵּל מִשִּׁמְעוֹן הַצַּדִּיק. הוּא הָיָה אוֹמֵר, אַל תִּהְיוּ כַעֲבָדִים הַמְשַׁמְּשִׁין אֶת הָרַב עַל מְנָת לְקַבֵּל פְּרָס, אֶלָּא הֱווּ כַעֲבָדִים הַמְשַׁמְּשִׁין אֶת הָרַב שֶׁלֹּא עַל מְנָת לְקַבֵּל פְּרָס, וִיהִי מוֹרָא שָׁמַיִם עֲלֵיכֶם.

Pirkei Avot 1:3

Antigonus of Socho received the tradition from Shimon the Righteous. He used to say: Do not operate like servants who serve the Master on condition of receiving a reward; rather, operate like servants who serve the Master not on condition of receiving a reward. And may the awe of Heaven be upon you.

According to this version, Antigonus of Socho is telling us that we should not serve Hashem contingent on receiving a reward, but we should serve Hashem regardless of whether we receive a reward or not. However, the text of the Kaufman manuscript, generally considered to be the most definitive version of the Mishna, reads as follows:

משנה כתב יד קאופמן אבות א:ג

[ג] אַנְטִיגְנַס אִישׁ סוֹכוֹ קִבֵּל מִשִּׁמְעוֹן הַצַּדִּיק. הוּא הָיָה אוֹמֵר: אַל תִּהְיוּ כַעֲבָדִים הַמְשַׁמְּשִׁים אֶת הָרַב עַל מְנָת לְקַבֵּל פְּרָס; אֶלָּא הֱיוּ כַעֲבָדִים הַמְשַׁמְּשִׁים אֶת הָרַב עַל מְנָת שֶׁלֹּא לְקַבֵּל פְּרָס. וִיהֵא מוֹרָא שָׁמַיִם עֲלֵיכֶם.

Mishna Avot 1:3 - Kaufman Manuscript

Antigonus of Socho received the tradition from Shimon the Righteous. He used to say: Do not operate like servants who serve the Master on condition of receiving a reward; rather, operate like servants who serve the Master on condition of not receiving a reward. And may the awe of Heaven be upon you.

According to this version, Antigonus of Socho is telling us that we should serve Hashem on condition that we do not receive any reward at all. This is also the text of the Rambam and Rabbeinu Yonah among other Rishonim. But then the statement of Antigonus of Socho becomes difficult to understand. Don’t we expect to derive some benefit from our observance of mitzvot? Isn’t reward and punishment one of the foundational ideas of the Torah (#11 of the Rambam’s 13 fundamentals)? We discuss the rewards for Torah in the second paragraph of the Shema which we recite twice a day. What then are we to take away from the statement of Antigonus of Socho? The Rambam in his commentary on Avot helps us clarify our terms and the concept:

פירוש המשנה לרמב"ם מסכת אבות פרק א

[ג] פרס ייקרא הגמול אשר יגמול האדם מי שאינו חייב לו בדין, אלא יעשה זה על דרך החסד וההטבה, כמי שיאמר לעבדו, או לבנו הקטן, או לאשתו: עשה כך, ואתן לך דינר או שנים. וזה הוא ההבדל בין פרס ושכר, כי השכר חייבים בו בדין. ואמר זה החסיד, שאתם לא תעבדו את ה' על תנאי שייטיב לכם ויגמלכם חסד, ותקוו לגמול ותעבדו בעבורו, אלא עבדוהו כעבדים שאינם מקווים לחסד ולא להטבה, רצה בזה: שיהיו עובדים מאהבה, כמו שבארנו בעשירי מסנהדרין. ועם זה לא פטרם מן היראה, ואמר: ועם היותכם עובדין מאהבה, אל תניחו היראה לגמרי, ויהא מורא שמים עליכם, כי כבר באה גם כן בתורה המצוה ביראה, והוא אומרו: +דברים ו יג+ "את ה' אלהיך תירא". ואמרו החכמים: "עבוד מאהבה, עבוד מיראה". ואמרו: "האוהב לא יחמיץ מצוה, והירא לא יעבור על אזהרה", כי ליראה מבוא גדול במצוות לא תעשה, וביחוד במצוות השימעיות.

Rambam - Commentary on Mishna Avot

A Peras is what we call the reward the one provides to another without an obligation. Rather, one does so out of kindness and goodwill. This is like if one says to his servant, young child, or wife, if you do such and such I will give you a few coins. This is the difference between a Peras or prize and Sechar or compensation, for compensation is an obligation. And this pious one said, that you should not serve Hashem on condition that he does some good for you and rewards you based on kindness, that you should hope for a [particular] reward and serve him because of it. Rather, you should serve him like servants that are not hoping for some kindness or particular benefit. In other words, that we should serve out of love, as we have explained in the 10th chaper of Sanhedrin. And with this idea, we should not exempt ourselves from awe, as he said, and with serving out of love, don’t abandon awe completely, “And may the awe of Heaven be upon you.” For the Torah has been explicit about the commandment of Awe, as it said: “and you shall be in awe of Hashem” (Devarim 6:13). And our sages said, “serve out of love, and serve out of awe”, and said “one who loves will not leave behind an opportunity to do a mitzvah, and one who is in awe will not violate a prohibition. For through awe one appreciates the weight of the negative commandments, and together [with love one appreciates even] those mitzvot we don’t fully comprehend.

The Rambam makes an important clarification about the term Peras, distinguishing it from the concept of compensation. The term פרס Peras is probably best translated as a prize. This is different than something that a person earns, that would fall under the term שכר Sechar or compensation. A prize is an extraneous reward not based on any natural obligation.

We’re supposed to relate to our service of Hashem as having intrinsic value. It is not based on some extrinsic prize. In the analogy given by Antigonus of Socho, a true employee or servant has an appreciation for the objectives of the master. That’s not to say that we don’t receive a benefit or reward as the result of our service. The Sforno draws our attention to the following verse:

דברים י:יב–יג

וְעַתָּה, יִשְׂרָאֵל--מָה יְהוָה אֱלֹהֶיךָ, שֹׁאֵל מֵעִמָּךְ: כִּי אִם-לְיִרְאָה אֶת-יְהוָה אֱלֹהֶיךָ לָלֶכֶת בְּכָל-דְּרָכָיו, וּלְאַהֲבָה אֹתוֹ, וְלַעֲבֹד אֶת-יְהוָה אֱלֹהֶיךָ, בְּכָל-לְבָבְךָ וּבְכָל-נַפְשֶׁךָ. יג לִשְׁמֹר אֶת-מִצְוֺת יְהוָה, וְאֶת-חֻקֹּתָיו, אֲשֶׁר אָנֹכִי מְצַוְּךָ, הַיּוֹם--לְטוֹב, לָךְ.

Devarim 10:12

And now Israel, what does Hashem your God ask of you? But only to fear God, to follow in all his ways, and to love Him, and to serve Hashem your God with all your heart and with all your soul. To guard the mitzvot of Hashem and his rules, that I command you today, for your benefit.

We should recognize that following Torah benefits us. If we need an external prize to engage in Torah, it means we don’t fully appreciate the inherent value of the Torah system and its observance. This explains Antigonus of Socho’s statement “on condition of not receiving a prize”. We should not be interested in some extraneous prize, but rather we should serve Hashem based on the intrinsic value of the service. The final clause in the mishna is “And may the awe of Heaven be upon you.” As the Rambam explains, our sense of awe reminds us to avoid the harms outlined in the Torah and codified in the Torah’s prohibitions. Our sense of love attracts us to the beauty of Torah and the divine wisdom implanted in the positive commandments. Awe and love of God compliment each other.

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