Is it just me or is compensation feeling stagnant?

Been with Cummins for a few years now, and while I appreciate the stability, I can't shake the feeling that my salary and overall compensation haven't kept pace with the market, or even inflation for that matter. Especially seeing what's going on in tech and even other manufacturing sectors, it feels like we're falling behind. Promotions seem to be harder to come by, and when they do happen, the bump isn't always what you'd expect. Anyone else feel this way? Is it a company-wide thing, or are some divisions/roles doing better than others? Curious to hear what others are experiencing, especially with the current economic climate.