Absolutely. Fresh out of school, I job hopped twice and ended up with >50% raise. Started at $40k CAD, 18 months on jumped for $48k, and 4 months later (there were other reasons too), jumped for a greenfield project at $65k.

The first job refused to match the $48k offer. I’d probably still be there if they had, a decade on. Awesome place, awesome people, but... student loans and wanting to not live in a dumpy apartment won...