I think youre right for a lot of cases, but there are a few reasons Ive been subject to. You dont know what aspects of the work are persistent across orgs (grass is greener bias but maybe it actually is, its hard to tell), the work can be boring, you might be looking for a better cultural fit. My local team is very small and our tasks disparate, so local cooperation is lacking despite having to be in office. Processes may look smoother elsewhere, or you might just feel undervalued. You mention paying a competitive salary, that also seems hard to do via raises for some reason. Switching jobs can be such a waste but its your best chance to earn and learn more