I'm 33, and I've worked for a single large aerospace company since getting my undergrad degree 11 years ago. I started off as a desktop support guy making $42k, and then was bumped to $43k after a year, then to $45k after another year, then to $46k after another year. In late 2004 I was promoted to junior sysadmin and was bumped to $50k, and through yearly raises got that up to $55k by 2006, when I transferred formally from sysadmin to the enterprise architect side of the house. That got me a bump to $68k, which brought me up to the minimum salary level for that position, and then between 2006 and mid-2010 the pay rose to $74k through those yearly incremental raises.
In 2010 I was a senior architect, making decisions that directly affected the technology direction of a Fortune 50 company with $65B in revenue, making $74k a year. It was nice, of course, and the job was fun, but the compensation just hadn't scaled to the job. There were other benefits--outstanding and near-zero-cost insurance, stock, a functioning pension program, and as near a thing to stability as it's possible to get in an American job--but I wanted more money, so I left. Now I work as a presales engineer (that's "engineer," not real engineer) at one of the same vendors that used to sell to me, making $120k. I would have had to stay at the first job for another 20 years to hit the same level of salary. More, I left on excellent terms, and I wouldn't mind going back there some day.
This experience echoes that of my much-older peers at the aerospace job, where I was one of the only folks in the group less than 50 years old. All of them, without exception, had left at some point for between 1-5 years and then come back, bringing with them a large salary bump. Even in a company that gives you near-guaranteed 2-5% incremental raises, the only way to get a massive salary increase is by leaving.