FJ, the most painstaking translation I know of is the New American Standard Bible. It relates this passage as follows:
Obey your leaders and submit to their authority. They keep watch over you as men who must give an account. Obey them so that their work will be a joy, not a burden, for that would be of no advantage to you.
This refers to the fact that any organization must have leadership and compliance. It is not about anyone being of higher spiritual presence or glory, among the Lord's faithful.
Here is Peter's point of view, on the subject (1 Peter 5):
1 Therefore, I exhort the elders among you, as your fellow elder and witness of the sufferings of Christ, and a partaker also of the glory that is to be revealed, 2 shepherd the flock of God among you, exercising oversight not under compulsion, but voluntarily, according to the will of God; and not for sordid gain, but with eagerness; 3 nor yet as lording it over those allotted to your charge, but proving to be (I)examples to the flock. 4 And when the Chief Shepherd appears, you will receive the unfading (L)crown of glory.
Well, I don't go by the NASB as it is Protestant first of all and secondly I think that these modern translations are a mess. People are putting all kinds of language in the Bible that wasn't meant to be there and it can the total dynamics of some aspects of Scripture.