What's peoples experience with job-hopping vs sticking around and hoping for raises and/or promotions while sticking to mostly technical roles? I've heard that

What's peoples experience with job-hopping vs sticking around and hoping for raises and/or promotions while sticking to mostly technical roles? I've heard that the "ladder" for programmers that don't want to eventually go into things like (project) management can be a bit stunted at some companies.