Waiteth - literally, "keepeth," "observeth." As the fig tree requires constant care but yields abundant crops, so the ministrations of a faithful servant will not be without their due reward. Compare 2-Timothy 2:6.

Whoso keepeth the fig tree shall eat the fruit thereof,.... That takes care of a fig tree, either his own or another's, planted in his garden or vineyard; see Luke 13:6; who cultivates it, digs about and dungs it, and prunes it, and does everything necessary to it; when it brings forth fruit, and that is ripe and fit to eat, he eats of it, as it is but just he should; see 1-Corinthians 9:7;
so he that waiteth on his master; or "that keeps his master" (k), his person from danger, and his goods faithfully committed to his trust; or "that observes his master" (l), that looks to his hand, observes his motions, directions, and commands;
shall be honoured; as Joseph was in Potiphar's house, and elsewhere; and as all those are who observe the commandments of God, and are the servants of Christ; see 1-Samuel 2:30.
(k) "qui custodit", Pagninus, Mercerus, Gejerus; "custodiens", Montanus; "qui custos est domini sui", V. L. (l) "Observat", Tigurine version, Junius & Tremellius, Piscator, Michaelis; "observans", Cocceius, Schultens.

Though a calling be laborious and despised, yet those who keep to it, will find there is something to be got by it. God is a Master who has engaged to honour those who serve him faithfully.

Diligence secures a reward, even for the humble servant.

The following three proverbs are connected with 17 in their similarity of form: -
18 Whosoever watcheth the fig-tree will enjoy its fruit;
And he that hath regard to his master attaineth to honour.
The first member is, as in Proverbs 27:17, only the means of contemplating the second; as faithful care of the tree has fruit for a reward, so faithful regard for one's master, honour; נצר is used as at Isaiah 27:3, שׁמר as at Hosea 4:10, etc. - the proverb is valid in the case of any kind of master up to the Lord of lords. The fig-tree presented itself, as Heidenheim remarks, as an appropriate figure; because in the course of several years' training it brings forth its fruit, which the language of the Mishna distinguishes as פגין, unripe, בוחל, half ripe, and צמל, fully ripe. To fruit in the first line corresponds honour in the second, which the faithful and attentive servant attains unto first on the part of his master, and then also from society in general.

So he - That serves him faithfully, prudently, and diligently.