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Yes. That's why people jobhop. There always seems to be more in the budget for talent acquisition than there is talent retention. That said, it's impossible to say you should stay or leave with such little info. On the surface, yeah, sounds like it's time to move on, but if you had a good shot at getting promoted this year or had some sort of incentive that kicked in aafter 4-5 years, it could make sense to stay.
I have always been a person who hops from job to job every few years. I have truly found that is the only way to increase your salary by more than 3% every year. I would say start looking and see what kind of offers you get; it definitely won’t hurt anything.
Rising Star
Yes I think job hopping helps increase your salary alit. My last job hop resulted in a 30% salary increase