Early on, compensation grows quickly with experience, especially from 0 years to 5 years (a bit less than doubling). Then, the more experience you have the less effect another year of experience will have on the salary you can command. After about 15 years, it doesn't matter much at all.

Developers stand to gain a lot by switching jobs after their first few years in the industry. Companies stand to gain a lot by hiring and retaining new developers.