The sad reality in this field (and probably most jobs) is that unless you have a really good boss and a good HR it is very difficult to get large pay raises. The best way to get a large pay raise is to get a new job. Of course it isn't magical, you can't just infinitely get more. Do some research and try to see what your fair market value is. If you think you can get a lot and more and want to leave, leave!
It is always worth mentioning to your manager that you don't feel you're being properly compensated in a 1 one 1 if that's true. Don't phrase it as you're looking to leave or anything, just ask what it takes to get a big raise.
So, in short, if you're happy don't leave. If you're unhappy, especially because you want more money, that's where the "new job every 2 years" thing comes from. For better or worse pensions aren't really a thing anymore and there's not much value for loyalty.