Old article, but it’s certainly true in my industry. Having said that, I’m a bit conflicted with this at least for my own personal situation.
I’ve been with my current employer for a decade. I’m sure I can get a significant pay bump if I switch, but I’m in a comfortable position where I think the trade off is worth it. I earn enough to support myself and my wife on a single income. Work from home, unlimited PTO, and the job itself is not super stressful that I get good work/life balance. My manager and teammates are awesome. The company has great benefits and lots of perks.
I’m at a point in my life where I no longer want to be “challenged” with work. Meaning, I just want to clock in, do work, clock out. I don’t yearn for promotions, new challenges, and moving up. I just want to get paid for work I’m familiar with and good at, and focus my energy on my personal life. And my current job allows me to do that plus all the perks mentioned. So the question is, will I be willing to potentially sacrifice all the comfort I currently enjoy to get paid more? Sure, there’s a chance I could get a better paying job AND all the same perks, but that’s not a guarantee and I will never know until I’m working that new job. Also take into account all the effort required to learn everything on the new job and having to “perform” to impress as a new hire.
But who knows, it might come to a point where my current pay is no longer enough. Only time will tell.