Isn't most of Rust's compilation overhead from the llvm backend?
Rust as a language is even more reliant on monomorphization and inlining than C++, due to core language traits such as Deref, AsRef, From/Into, and so on.
That said, in practice my personal experience has been that Rust compares pretty favorably on compilation speed, even to some high-level languages like C#. On many developer machines, the actual slow part is linking.