I was reading through Dailytech, saw an interesting news that a Chinese outsourcing firm once accepts applicants with IQ of more than 140, but as usual, it was the comments that were more insightful and representative of the society (http://www.dailytech.com/article.aspx?newsid=18974)
As someone with above average IQ score (mid 130 to low 140 depends on how I'm tested and how I felt at the time of taking the tests), I faced some of the problems mentioned in the comments when I was in primary and secondary school. Most of the time, I could understand abstract concepts faster than my classmates, and I hated it when the teacher had to explain multiple times to students who were slower. I also disliked solving the same problems (not seen as the same by most of my classmates though) over and over again.
Thankfully, I was in the system that is meritocratic, which rewards performance rather than hard work. I had a few understanding teachers who realised that I could study more advanced materials, and the school's initiative to place students with equal ability together. In the end, I enjoyed my schooling years.