I agree a toxic culture is probably driving the great resignation. I don't believe it is lack of money. I do believe and have experienced toxic work relationships and environments. I've had a career as a software engineer -15+ years-, and then shifted to security. Developers reflect their environment and are largely toxic individuals or the object of toxic teams. There is a love/hate relationship with Execs and Tech pros, and the salaries they demand. Execs are looking to cut costs, Tech is looking for career advancement and longevity. Developers are caught between these two rocks. Then the fear of outsourcing for a lower cost workforce. It sucks.
The best advice I can give is to enjoy your work and don't get hung up on a $$ track as your measure of success. The $$ will work out in the end, you need to find relationships of like minded folks and support each others careers, boost each others ratings. Provide excellent customer service - the customers being those business owners of your development projects.
Look for at least a cost of living increase, ask what needs to happen to get a raise. It's harder than you think. You have to not just produce cheerfully, but provide breakthrough solutions. It's always been a fact in the US that you have to perform the advanced role for at least a year before your title and compensation reflects it.
Cheers and good fortune~