Genuine question: would you have felt better with a 1% raise?
In 2010 I was working in the UK and we had about 5% inflation that year (or so). I got a 2% raise, and found that more insulting than if they had given no raise; even though objectively any positive raise is better than no raise.
I've been living in London and the inflation is just as bad there as back in the US. I'm American working for a US company that just raised a huge Series B. They have the money, so I expected at least 3%. I didn't expect a 10%+, but at _least_ something.
I haven't gotten a raise in probably 10 years. But realistically I make a lot more than most developers where I live (Los Angeles) and there would be no reason for my company to give me a raise when I'm probably the highest paid non-sales person where I work (and often have been). So I'm ok with it.
Just got an extra side gig for 20-25% hours per weeks so it's like getting a 50% raise and feels great.
Although seeing how many $500k jobs exist in Silicon Valley makes me think I should spend more time grinding leetcode.