What I meant by 10-15 years worth of raises was that I would have had to stay there that long to equal the increase I got by moving on after a handful of years (at my last job, you'd get +$1-2k/yr regardless of merit, and I got +$25k for jumping ship).
I agree that being somewhere for along time with no promotion can be a red flag, but I've also worked places where they'd rather hire externally than give someone too big of a raise.
I also tend to choose jobs based more on what I can learn than what I can earn. Then, so long as you can learn, the money comes naturally. My current job has so many opportunities to gain experience with technologies I haven't worked with before that I'd probably stay here for a while even with no raises at all, knowing that I'll be worth a ton more when I did finally leave (but they actually have a sane promotion path, with technical track positions all the way up to SVP/EVP level).