I just got promoted to staff software engineer. Don't get me wrong, I'm very excited, but I was somewhat disappointed to find out what they told me the path forward looks like. 

We get 3% raises per year for cost of living adjustment, and 10% raises on promotion. Everyone keeps telling how how excited I must be since I'm getting promoted so quickly, but it seems like my "hyper" rate of internal promotions have pretty much barely been keeping ahead of what I've been offered to go somewhere else. 

How do people make staying at a company more than 5 years work? I like what I do and would rather stay if that doesn't mean missing out on much larger compensation.