I seem to remember an article (or I did the math) that shows that it's financially best to pursue a new job in the tech industry every 2.5 years.
It's enough time to get value from meeting new peers and make valuable contributions that they will remember but not short enough that they will view you as someone who's continually job shopping.
As an individual contributor, there is a maximum amount companies are going to pay you based on the local market. A company in Dallas for instance isn’t going to pay you $200K as a software developer more than likely.
This is a good answer. Jumping ship frequently works very well until you hit the plateau for your local market. I don’t have the data in front of me but my job changes early in my career netted me raises of sometimes 50% but each subsequent one increased less on a percentage basis. My last job change was +0%. There is definitely an invisible ceiling in effect.
It's enough time to get value from meeting new peers and make valuable contributions that they will remember but not short enough that they will view you as someone who's continually job shopping.