Though level 5 missions exist, they are designed to be run by several people at once, reducing each person's share of loot to the point where they would usually be better off running level 4 missions. Pilots grind missions to increase their standings, to get mission rewards, to accrue loyalty points that may be spent at that corporation's loyalty point store, to pick up loot and salvage wrecks during the course of the missions, and to gain access to perks that come with high corporation or faction standings.
Also, special bonuses are sometimes possible within higher-level missions.
Locator Agents: These special agents will reveal the location of any pilot in EVE, though the speed with which they respond will vary depending on the level of the agent.
What standings are required for this depends on what level locator agents are available with a specific corporation.
For example, if you kill an NPC belonging to the angel cartel, your standings to the Angel Cartel will lower, but standings with the Minmatar Rebublic will raise. Allies of the Minmatar Republic will improve their standings, though to a lesser extent, and enemies of the Minmatar Republic may decrease their standings to you, though this will also be to a lesser extent.
A more rapid change in corporate standings will occur if missions are run for a corporation.
The most typical grind is to run missions to get standings high enough to run level 4 missions for a particular corporation, and then to farm that corporation's level four missions for valuable rewards.
Level 4 missions are the highest level of mission that can be run effectively by a single character and still be profitable given the time spent.Finally, when you run storyline missions, your standings with the faction to which that agent belongs will improve.If your faction standings are higher than your corporate standings, they will be used to see if that agent is willing to talk to you.Here are a list of perks that can be gained with high standings to a corporation or faction.Jump Clones: Once your standings with a corporation reach 8.0 with a corporation or faction, you can install jump clones in their stations.In order to run missions for an agent, you must have high enough standings with that agent.