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How new are you?
Pro
I would wait until performance review to discuss raise and promotion. Also let your supervisor know your plan so he/she can work with you on a plan to get you promoted. Also how many year of experience do you have before this role?
Generally speaking, companies would have a schedule for when they do evaluations or performance reviews. And that would be the time to advocate for a raise or a promotion. If you're quite new at the job you should probably wait for your first performance review. At that point, make a case for yourself and why you would deserve a raise or promotion.
Pro
Ask your supervisor, they should know when the cycle starts. Performance review is typically once a year.