Are you looking for a promotion or a higher salary?
What are the processes to grant these kind of requests?
Can you ask for this right away or is there a specific timing?

When I started my career, I had no clue about this topic so I made a lot of mistakes and learned it the hard way.

The right approach to this depends on number of things. One is considering the size of your company. If you are in a small company, the chance of directly negotiating with the owner of a CRO is bigger than the big companies. While in bigger companies, you need to undergo a certain process in the HR department.