Yup. Large, public corporations have extremely strict raise guidelines - both timelines and amounts. That was a major reason for leaving Walmart when I did.
"New" operations managers were coming in at a higher starting salary than me. I complained to my Director about it, saying I just expect the same salary as "new" hires, especially since I had been there 3+ years. She was extremely understanding, but basically gave me the "my hands are tied" answer. I ended up putting in my resignation notice in that same meeting with her.