Work for hire contracts have a bad name, because they are often associated with low pay. The truth is, a work for hire contract doesn't have to come with low pay.
Work for hire depends on the project. Generally it's good when you are contributing to something, but not the final work. For example, I worked with an online off track betting company, to make fun portraits of the various horses that would race in the Kentucky Derby and other races. They liked my concepts and drawings of horses, but wanted their staff guy to do the final art, because was very good at copying that Zynga style of art, but not good at coming up with ideas. So I got $100 for each sketch, of which none took more than 20 minutes, and that's including any revisions. There were 26 horses, So I made $2,600 for about 9 hours of work. Not bad. They own my sketches. But what am I going to do with them? Nothing. I won't even show them on my portfolio. So in this case, I didn't care if they owned them or not. They were done digital, so there's not even a physical copy.
Another thing to consider, when you are hired to create something for someone else's intellectual property, you only own the exact visual expression you created. The information is owned by the person who hired you. So while you might draw a map of Middle Earth, Tolkein's estate owns that intellectual property. Technically, you should get permission to draw Middle Earth, but you definitely need permission to sell prints of it.
A lot of companies use work for hire, because it's the easiest method for them to control the IP. For example, if you were to make something for a Star Wars RPG, put out by say, Fantasy Flight Games, they don't own Star Wars. They have a license to from Disney/Lucasfilms to make the game. As such, they can't grant rights to anyone else, under contract, to make Star Wars products. So they often use work for hire to just simplify the process.
Most of my contracts with publishers, are not work for hire, but they do give life time, exclusive English rights. Same with private commissions. In general, I work hard to not give up my ownership of my work, unless the pay is right for that.
I'm currently working on a map for a high end liquor manufacturer, who will own the copyright, but they are paying me a nice sum to do so.