Wow, I'm envious of this rate of internal raises. Is this consistent within Amazon's culture, or other SV companies?
I've found (in the small-town Midwestern shops I frequent, not in the FAANG bubble) that I have to change employers to do better than a token 3-5% annual raise, even if my value to the company is increasing much more quickly.
I've even been heartily congratulated and thanked at my annual review for completing successful, profitable projects in my first year at one job, and offered a reward of a $1/hour raise. I was a bit shocked, as that represented a pay cut when you factored in inflation. They 'capitulated' to an increase of $1.50/hour, which was just about keeping up...had to go look elsewhere to do better.