From the company's perspective...Commission splits are created to cover the fixed and variable costs of doing business, plus a profit %. The average brokerage in the U.S. is at a negative NOI, so you will find commissions overall rolling back slightly, in order for brokerages to survive. Ask your broker, "What is the amount of money you are trying to achieve from my production annually?" In Northern CA, the answer might be $25K...so, based upon your production level, once the brokerage has achieved that number, the company's split should become more generous.
From the agent's perspective...It's all about value proposition. Are you getting services, leads, brand recognition, office space, phones, websites, etc. that you feel are worth the amount of money you are contributing to the company. If not, then check out your options and then approach your broker/manger with what you've learned and how you feel about it.
At the end of the day, remember that nothing is free..and if it's too cheap at a competitor, there's a reason.