It's not just about how much you study, it's also a matter of strategy - figuring out exactly what you need to know, how you can express what you know on exams etc.
I studied HARDER/LONGER than a lot of people who probably did as well as I did if not better than I did last semester. I'm still busting my butt -- I'm probably studying even harder than I did last semester, but I accept that regardless of my efforts there will be people that will do better than I will.
Being competitive and wanting to one-up the other guy if great in the scope of academic ranking. Remember, however, that in the workplace cooperation and helping your team is invaluable. You have to develop those skills/mentality too.