I recently realized that I am getting paid less than peer colleagues. I have been at my company for 4 months, but am doing well. When is it okay to negotiate a higher salary, and any thoughts on what’s an effective tactic?
Most companies have bands based on role. Where you are in the band depends on performance. Address this by asking your manager for a performance review. Be prepared with a list of everything you have delivered, projects you helped, people you have mentored, trainings you've done, things you have accomplished, etc. Discuss that. Then ask for your salary to match your performance. Tl;dr: salary is an outcome of performance, review it by looking at how you measure and review that.
I highly doubt OPs salary depends on performance after only 4 months at the job. OP probably got lowballed
I gave a bit of a generic answer. Yes. 4 months is too soon but when I was a manager I adjusted somebody's salary after 6 months of overperforming compared to the hiring decision. Company prefered that than having the person leave.
It’s definitely too soon, but I want to do it before the 1 year mark if possible. I was definitely low balled, but I think this approach might work Goodgumbo. Thank you.
You'll probably want to switch companies to get noticeably higher salary. You're already working there and your current employer is betting you don't want the hassle of changing jobs. You negotiated poorly or had no leverage. Do better for your next job.