I can go digging through my old research to find a citation, but for Western labour markets this has been proven to be true. Generally speaking who move between employers every few years generally earn more than people who remain at the same employer for long periods of time. This does not apply to individuals who occupy incredibly neich professions, like if fewer than 100 people total in an entire country are capable of doing that job.

[–] Midnitte@beehaw.org 3 points 10 months ago

This has become truer every year as benefits are cut (or costs raised), pensions are removed, and unions are eliminated.

Yearly "raises" barely (or sometimes don't) cover increases in cost of living. Unless you're getting something else out of it (such as experience), you're better off switching companies (especially if you move positions and the company leverages you as a resource for that old position).