That's my experience too. As a junior, however, I couldn't tell good employers from bad so I tended to pick bad ones (they vastly outnumber the good ones, after all) and then stay with them for far too long.

I mean, I value continuity and a healthy long-term relationship with a reciprocating organisation more than most, but the first few years I spent at a crap shop for crap pay and with only fear of my superiors motivating me? I think I could have gotten the same experience but better in a few other places I've been since.

(On the other hand, maybe that first experience is what made me so picky in selection of employers after that?)