I think it depends on a person too. For example I only have 4 jumps (1 static, 2 tandems, 1 AFF) and I felt the "stomach drop" on every jump (not so much with the static line, but that's different cuz I had a drogue out almost immediately). All of my friends that did tandems say they didn't feel any drop on exits, neither the skydivers I talked to. Probably seeing the ground on exit adds to the feeling, I felt much more comfortable during my static line exit where I saw the plane for the most part. On my other jumps I was looking right at the ground and it definitely didn't feel good on exit. To be honest that feeling on exit is what makes me hesitant from making more jumps.
