The Identification of the Reward
The phrase "my reward is with me" («ὁ μισθός μου μετ᾽ ἐμοῦ») in Rev. 22:12 is an allusion to Isa. 40:10 and 62:11 wherein the Hebrew phrase שְׂכָרוֹ אִתּוֹ (sekharo itto) is translated into the LXX by the Greek phrase ὁ μισθὸς αὐτοῦ μετ᾽ αὐτοῦ, both of which translate into English as "his reward is with him."1
10 Behold, the Lord Yahveh will come with strength, and His arm will rule for Him! Behold, His reward is with Him, and His wage is before Him!
י הִנֵּה אֲדֹנָי יַהְוֶה בְּחָזָק יָבוֹא וּזְרֹעוֹ מֹשְׁלָה לוֹ הִנֵּה שְׂכָרוֹ אִתּוֹ וּפְעֻלָּתוֹ לְפָנָיו
11 Behold, Yahveh proclaimed unto the end of the earth, "Say to the daughter of Zion, 'Behold, your salvation comes! Behold, his reward is with him, and his wage is before him.'"
יא הִנֵּה יַהְוֶה הִשְׁמִיעַ אֶל קְצֵה הָאָרֶץ אִמְרוּ לְבַת צִיּוֹן הִנֵּה יִשְׁעֵךְ בָּא הִנֵּה שְׂכָרוֹ אִתּוֹ וּפְעֻלָּתוֹ לְפָנָיו
In these verses, שְׂכָרוֹ (sekharo) and פְעֻלָּתוֹ (peʿullato) are synonymous,2 and it is also noteworthy that both are occasionally translated into the LXX by a declension of μισθός.3
Franz Delitzsch commented on Isa. 40:10,
But, we should not assume that μισθός only possesses a positive connotation, for it is used in the New Testament both in a positive and a negative sense.4 Hence, when the Lord Jesus Christ states that "my reward is with me," it can and perhaps does refer to what he will give to both the righteous and the unrighteous for their work,5 for the preceding verse states,6
He who is unjust, let him be unjust still; and, he who is filthy, let him be filthy still; and, he who is righteous, let him be righteous still; and, he who is holy, let him be holy still.
Therefore, the notion that the "reward" (μισθός) is the Church itself appears to ignore the immediate context which rather suggests that the reward is what the Lord Jesus Christ gives to each individual, be they righteous or unrighteous, according to their work. Thus, Rev. 22:12 is congruent with Rev. 20:12,7 wherein it is written,
12 And I saw the dead, small and great, stand before God, and the books were opened. And another book was opened, which is the book of life, and the dead were judged out of those things which were written in the books, according to their works. 13 And the sea gave up the dead who were in it, and death and Hades delivered up the dead who were in them, and every man was judged according to their works. 15 And whoever was not found written in the book of life was cast into the lake of fire.
Thus, the reward of the unrighteous is eternal torment in the lake of fire, while the reward of the righteous is the incorruptible body that is no longer affected by death or pain,8 partaking of the water of life,9 partaking of the tree of life,10 and dwelling in the holy and heavenly New Jerusalem.11
1 The difference being that the individual whom the prophet prophesies of in Isa. 40:10 and 62:11 is speaking in Rev. 22:12, hence the change in personal pronouns from 3rd person to 1st person.
2 Lev. 19:18 cp. Deu. 24:15
3 פְּעֻלָּה ► μισθός cp. Lev. 19:13; 2 Chr. 15:7; שָׂכָר ► μισθός cp. Gen. 15:1, 30:18, etc.
4 While the positive connotation is more common, the negative connotation occurs in other verses: Matt. 6:2, 6:5, 6:16; 2 Pet. 2:13, 2:15; Jude 1:11.
5 Hence, the last clause of Rev. 22:12 states, «ὡς τὸ ἔργον αὐτοῦ ἐσται», that is, "according as his work shall be."
6 Rev. 22:11
7 One should remember that recompensing one for his/her work indicates a judgment. Thus, Rev. 22:12 is related to 20:12 wherein the Great White Throne judgment occurs and everyone is recompensed according to their works.
8 Rev. 21:4, 22:17
9 Rev. 21:6
10 Rev. 22:2, 22:14
11 Rev. 21:24 cp. 21:27, 22:14
Delitzsch, Franz. Commentary on the Old Testament. 1900. Reprint. Trans. Martin, James. Vol. 7. Grand Rapids: Eerdmans, 1986. (146)