At a lot of workplaces (like mine) it goes beyond that - developers aren't allowed to install software even under their own user account, where admin privs aren't needed.
Consider the irony of that, when one of the approved pieces of software is a compiler. We can make our own programs, hello!?
But honestly, giving a developer non-admin privileges of their own (as in their work environment) computer is like giving a carpenter a rubber hammer to hammer nails. I find it insulting.