Is it good to job-hop if you have 3-5years of exp?
Yes, unless you're already working with a great company. If you are working for a company whose economics are very great, you have an internal influence problem, which is largely fixable. I'd not suggest job hopping in that case(unless the work culture is toxic).
Knowing a bit of business economics will help you decide with more certainty:
1. high natural usage frequency product, high lifetime value (cash we make per customer)
2. low natural usage frequency product, high lifetime value
3. high natural usage frequency product, low lifetime value
4. both low
#1 is golden! This is what Open AI(and any other product-led/consumer-led growth company) is right now. Good for devs as these companies are super product led by business models and requires engineering growth to be at the core of product growth. Fwiw, Google was this back in 2000, same was Meta when Chamath was their Head of Growth.
#2 is good as long as there are no competitors. If the barrier to entry in this market is low and the company has no distinctive offering - not a very good business to work with. They will also spend ~50% of all they earn into new user acquisition, which makes them a relatively not so good company to work with.
#3 is better compared to #2, if the number of paying users climb and retention isn't horrible.
#4 - is bad one to work for! They are doomed by their own economics. They are lifestyle companies at best where the CEO might exit and buy a nice car + home, but not the type of companies where you can expect yourself to work and grow. They usually always appear confused as a company and simply try tactics. Unless they fix their natural usage frequency or life time value - they are going to eventually fail within 3-5 years.
With #1, #3 and to some extent #2 - you can do amazing comp structures as these companies only have upsides that will be very rewarding in the future. A good example of #2 is companies that operate within real estate, they have extremely low usage, referral value (k factor isn't amazing either), a cost effective source of acquisition (organic growth) is dying pretty fast, etc - but they are extremely desperate if someone can come in and fix shit. So #2 can be a big opportunity if someone in any capacity can fix: key growth metrics, OPEX(applies to devs as well), etc.
Overall preference:
#1 > #3 >> #2 >>>>>>>>> #4