MMC Compensation - Is it just me or are raises stagnant?

Hi all, Been at Marsh McLennan for about three years now in a mid-level role. Performance reviews have always been solid, exceeding expectations even. However, my salary increases over the past couple of cycles have been pretty minimal. Like, barely keeping up with inflation, if that. I know the market can be tough, but I'm seeing colleagues at other firms, doing similar work, getting significantly larger bumps. Is anyone else experiencing this at MMC? Are raises particularly tight across the board, or is it specific to certain divisions or performance levels? I'm trying to understand if this is the new normal for compensation here or if I should be pushing harder during my next review, or perhaps even looking elsewhere. Any insights into the company's compensation philosophy or recent trends would be super helpful. Just want to make sure I'm not missing something or setting unrealistic expectations for myself.