If the company offers no real growth technical, responsibility or compensation yes
Experienced Devs
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2 years are a bit extreme. I think 4-5 years is a good option. But if only if I don't like the company (culture, people, policy, etc.) or I don't see any advancement in my career.
If you want more money and aren't happy with your job, then yes. Look for a new position after 2 years.
If you're on the young side, you should aim for financial stability since you're starting lower. Once you get to a good place financially, then you can settle in if you find a job you like.
I'm doing well financially, with a house and decent disposal income. My current job isn't too demanding, is flexible with my time, and let's me work from home without surveillance software. I could make more money in a different job, but I feel it'll be hard to find another employer who isn't profits before employees. So I think I'm good and settled in this position.
Job hopping at a fixed time is silly. Don't leave a situation where you're growing, getting new opportunities and doing interesting work because generalized advice on the internet told you to. Leave when you're not happy, not growing, and not getting paid what you're worth.
The timing right now isn't great either - the market is flooded with recent layoffs, and companies are trying to pick them up at a discount.
If you like your current job, don't leave. Simple as that. If you start the dislike it or feel you're not growing, then leave. It's really that simple.
Don't leave a good place because of FOMO.
I have worked 5+ years at my first work place. Good WLB, growing skills, promotions, good people. Most people who left tried to come back.
Why do you think staying can cost you career advancement wise? What are your goals?
What is unusual about your current position? If your current position is very nieche or skills are not transferable, that could become a risk for your career.
Feel like you only received half of, possible good, advice:
I used 'two years, up or out', in my career. Who cares if you work somewhere for a longer period of time as long you keep progressing in all the various metrics of career progression?
It's when things become stale that out is a good idea
2 years seems insane to me. I wouldn't hire anyone who has a resume full of job hopping every other year.
What if it was a promotion every 2 years?
You still worked for the same company... programmers job trees aren't that deep. Either you got promoted out of programming or the promotion isn't worth mentioning.
This is pretty bad advice and I'm really surprised to see it in a community for "experienced devs".