I've switched jobs about every two years on average for the past 19 years of my career. Unfortunately it's just like you said, the only way to get a meaningful increase is to jump ship. That said, once you break 100k, that motive seems to calm down a bit. You start caring more about the culture and the people you work with than how much you're getting paid. I've taken a pay cut even once because my mental health required a better environment.

But sadly, at least in the startup world, there is this perpetual arch I see all the companies take. They all start good then slowly devolve into something worse, where when you finally leave you're glad to go. Something about getting bigger corrupts what was good about a place, and if you IPO good luck. Culture goes out the window as soon as shareholders become your only driving concern.

So as jaded as that sounds, sometimes you do find a good place, and they give you decent enough raises and you can stay a while. Although for me personally, the longest I've stayed somewhere yet is 4 years or so. Maybe one day I'll find that magic place that's worth staying at for a full decade