Objection 1. It seems that magnanimity is not essentially about great honors. For the proper matter of magnanimity is honor, as stated above (Article 1). But great and little are accidental to honor. Therefore it is not essential to magnanimity to be about great honors.
Objection 2. Further, just as magnanimity is about honor, so is meekness about anger. But it is not essential to meekness to be about either great or little anger. Therefore neither is it essential to magnanimity to be about great honor.
Objection 3. Further, small honor is less aloof from great honor than is dishonor. But magnanimity is well ordered in relation to dishonor, and consequently in relation to small honors also. Therefore it is not only about great honors.
On the contrary, The Philosopher says (Ethic. ii, 7) that magnanimity is about great honors.
I answer that According to the Philosopher (Phys. vii, 17, 18), virtue is a perfection, and by this we are to understand the perfection of a power, and that it regards the extreme limit of that power, as stated in De Coelo i, 116. Now the perfection of a power is not perceived in every operation of that power, but in such operations as are great or difficult: for every power, however imperfect, can extend to ordinary and trifling operations. Hence it is essential to a virtue to be about the difficult and the good, as stated in Ethic. ii, 3.
Now the difficult and the good (which amount to the same) in an act of virtue may be considered from two points of view. First, from the point of view of reason, in so far as it is difficult to find and establish the rational means in some particular matter: and this difficulty is found only in the act of intellectual virtues, and also of justice. The other difficulty is on the part of the matter, which may involve a certain opposition to the moderation of reason, which moderation has to be applied thereto: and this difficulty regards chiefly the other moral virtues, which are about the passions, because the passions resist reason as Dionysius states (Div. Nom. iv, 4).
Now as regards the passions it is to be observed that the greatness of this power of resistance to reason arises chiefly in some cases from the passions themselves, and in others from the things that are the objects of the passions. The passions themselves have no great power of resistance, unless they be violent, because the sensitive appetite, which is the seat of the passions, is naturally subject to reason. Hence the resisting virtues that are about these passions regard only that which is great in such passions: thus fortitude is about very great fear and daring; temperance about the concupiscence of the greatest pleasures, and likewise meekness about the greatest anger. On the other hand, some passions have great power of resistance to reason arising from the external things themselves that are the objects of those passions: such are the love or desire of money or of honor. And for these it is necessary to have a virtue not only regarding that which is greatest in those passions, but also about that which is ordinary or little: because things external, though they be little, are very desirable, as being necessary for human life. Hence with regard to the desire of money there are two virtues, one about ordinary or little sums of money, namely liberality, and another about large sums of money, namely "magnificence."
In like manner there are two virtues about honors, one about ordinary honors. This virtue has no name, but is denominated by its extremes, which are philotimia, i.e. love of honor, and aphilotimia, i.e. without love of honor: for sometimes a man is commended for loving honor, and sometimes for not caring about it, in so far, to wit, as both these things may be done in moderation. But with regard to great honors there is "magnanimity." Wherefore we must conclude that the proper matter of magnanimity is great honor, and that a magnanimous man tends to such things as are deserving of honor.
Reply to Objection 1. Great and little are accidental to honor considered in itself: but they make a great difference in their relation to reason, the mode of which has to be observed in the use of honor, for it is much more difficult to observe it in great than in little honors.
Reply to Objection 2. In anger and other matters only that which is greatest presents any notable difficulty, and about this alone is there any need of a virtue. It is different with riches and honors which are things existing outside the soul.
Reply to Objection 3. He that makes good use of great things is much more able to make good use of little things. Accordingly the magnanimous man looks upon great honors as a thing of which he is worthy, or even little honors as something he deserves, because, to wit, man cannot sufficiently honor virtue which deserves to be honored by God. Hence he is not uplifted by great honors, because he does not deem them above him; rather does he despise them, and much more such as are ordinary or little. On like manner he is not cast down by dishonor, but despises it, since he recognizes that he does not deserve it.
Source: Summa Theologica (New Advent)