Chasing money or skills? What paid off at the end?

This is mostly for people who have spent 10+ years in the industry. I’m sure we all can agree that the hiring and salary boom that we witnessed in 2021-22 is mostly over now. Now it’s more about surviving the job market rather than printing asymmetrical amount of money

But how has it turned out for people who’ve been in the game for too long. I know some people who switched jobs too quickly and are at a higher package but still not content. At the same time, I know a few seniors who’re still in my first company and are happier than ever with the work.

I understand that in Tier-1 cities, the expense itself is more and you’re sometimes forced to switch just to stay afloat. But what would you recommend new joiners based on your experience? Does chasing money in early years help later or only focusing on skills?