As to the bouncing jobs for money discussion, I can see both sides of the fence on that one. Money can be a motivator or a demotivator depending on the situation.
Money isn't everything, and there is a lot to be said about a good work environment. a LOT to be said about the work environment and how you feel at the end of the day, kind of like
@Taco Loco said. On the other hand,
@tx_shooter is right. Pay raises rarely keep up with inflation or industry standards. My second to last manager at my last company told me "2 years, but no more than 5." If you stay at the same place for more than 5 years you get to be seen as stagnant and not up to current industry standards. Moving around both increases your salary and shows that you are capable of adapting to different work environments.
Keep in mind that my experience is in IT and that spans pretty much every sector. It might not be (and probably is not) the same for other industries.
I moved to an IT Security Engineer at my last company at the same pay rate that I was making as the Service Desk Manager at that same company. I stayed in that position for about 2 years. I took a lateral move in pay to take the job here in GA with 2 years of experience (but no certifications). I'm currently at about 1.5 years at this company and I got a modest 3.5% raise last October. Better than nothing, but I feel as though I'm far behind what my peers are making with similar experience. Depending on the site that you look at, I'm either at the median salary or up to 31% behind the average. Of course those sites don't account for years of experience or certifications, so I believe that I should be in the higher 50% as opposed to the lower.
Another area that I feel as though I was mislead during the interview process is time off. I was told that I get 3 weeks of vacation, which was consistent with what I had at my last company. What they didn't tell me, and I didn't know to ask, is that vacation and sick come out of the same bucket here. So I get a total of 3 weeks PTO per year total here. Last company I had 3 weeks of vacation on top of 2 weeks of sick/personal time.
So add the lost time off and the 6% GA state income tax....I'm actually making less than I did in TX. Property tax here is lower, so that kind of negates the 6% difference (but still...).
I also don't feel like my management trusts me or values my opinion, so the work environment - while not bad - is not particularly good either.