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Welcome to WPP friend
Your feeling is correct
There is a performance and then comp increase schedule/season. HR & or your manager would/should know so ask when it is.
I’m not sure an increase every 12 months is the norm. I’ve been in roles often where it might be closer to 2 years or even 2 and change and I’ve certainly heard of people waiting longer.
If you do some research, it would be helpful if you found comparable 4 or 5 roles in your city & see how they compare. With that in hand you have a better argument. That said, I’d lead with the positive contributions you’ve been making.
Also, you may be doing your job reasonably well, but maybe you’ve met expectations but haven’t necessarily exceeded them, and you’ve only been in that role 1 year. If you want to jump elsewhere they’ll probably find someone to fill your role quickly. If you enjoy where you are, you may just need to wait and grow into your role. Something to think about.
Talk to your manager about when increases happen and good luck!
Make that the outside offer is one you’d actually like to take. You may find that you actually are more valued somewhere else.