Cisco was my first job after college and was there for 2 years. I have seen both sides of the coin here. One is in my case where during those 2 years I had 3 managers and couldn't able to get stable leadership. Additionally, my team was young so getting promoted was hard. I had good reviews, but no pay raises and small bonuses since manager was trying to give ratings based on budget. The next point will hit the second scenario.
My manager hired me out of college and I knew him before since he made some campus visits to recruit new grads. However, during my time at Cisco he helped me get training, let me do CCNA training, lab equipment setup, allowed me to join E-O during work hours, but that all change with reorg due to layoffs. Therefore, new manager and things went south. I had to explain to my next 2 managers why this "thing" is this necessary and couldn't take it anymore since I wasn't welcome.
The moral of the 1st point is pay and back luck since team was young. After leaving I manage to get a 45k pay raise since Cisco does pay below market. The second point is synergy with manager. I know people who graduated from the same college as me and still works there after 8 years, why because of the manager. You can mitigate point 1 with performance, but point 2 is hard. I got hired an my new job great synergy with manager and his manager, but layoffs occured and leadership change and went south to the point I started talking back to him. I was laid off from the job. At this point I just chase higher pay since layoffs are happening and this AI thing.