This is only half of what I asked. What about the raises? As someone in another thread chain pointed out, the expected raise from job leaping is maybe 15%. How did the raises your friend gave compare to that?
I'm not saying they have to meet it, but if you're sitting there doling out 1-2% raises per year people are gonna leave when they get what they need from you.
Also, small companies (frankly, especially 'web' companies) are not even remotely immune to demanding people just "do their job and not ask questions" or forcing their employees to sit in the same box for 3 years doing the same thing. Often the lack of room for career growth in perpetually small companies almost demands this.