Over a decade later I'm still with my first employer.
I could make more elsewhere, but I suspect at max 2x after twelve years - not 2x every 4 years. Did I receive more reasonable raises than they happen in your experience?
With other things I value about my work environment and employer, my pay is fair and good enough for me to stay.
I'm so glad I don't have to hassle with prep and interviews. (I had one phase where I did but ultimately stayed with my employer in a bit of a different setup.)