That can be a red flag for me, as a hiring manager (not withstanding what you're replying to that I wrote). But I don't see it as loyalty, I see it as, shit, will this person quit after two years, I need long term types. It takes a while to learn the infrastructure and people get ever more skilled and useful. However, if they're new to their careers, you kind of need to skip town every two years because, at least in financial services, they only pay if you quit, that's how they value your worth. Consider: new hires are ALWAYS better paid than people who stay year after year.