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Are you underpaid compared to industry standard? If so, I would guess they are saying whatever they can say to put off outright denying you a raise and causing you to leave. There is nothing wrong with wanting to talk to them about a raise, and "wait until next cycle" is a valid response to that. You can either keep waiting, or start job hunting.
Rising Star
Facts. A lot of people go from 0 - 100 way too fast
Rising Star
They may not have anything this cycle. And the first thing you did on advocating for yourself was bring up a pay raise.
That’s like my manager telling someone they need to have a report done by end of week, they they complete it in 5 minutes with hella errors.
For me, I usually wait until next cycle to see if they follow through. If they kick it to next cycle, then I start looking