When are the annual budgets done? Your manager may not be able to give you a raise right now because of this year's budget but he may be able to negotiate an amount for next year. But you have to get his promise now, otherwise, other priorities may take precedence. It may be a lot easier to negotiate a future raise.
Also, most large companies have a sliding scale for salary in each position, with a lower value for an inexperienced person in that function, a mid point salary and a top end (by the way, it is a very bad sign to reach the top salary for a function). HR should be able to tell you where you are in the scale (this is supposed to be shared with the employee, generally). If the scales from different functions overlap, someone can be in your situation: moving from the top end of a scale to the lower end of the new one results in little difference if the system is not well designed or if the promotion was an unusual one.