Is it worth waiting for a pay rise

[mooneus]

So after my annual appraisal in which I received excellent feedback, I decided the time was right to ask for a pay rise. However I have been told to wait for 6 months so they can assess me in a role with more responsibility. I've been working at this company for almost 2 years on the same salary and I can't stay if I don't get a pay rise. I'm just worried my employer will turn around after 6 months and say no. Should I wait it out or keep my eyes open for new positions?

I would apply. At the very least if you get a better offer you can use it as a bargaining tool

Do you have reason to believe they are not paying you fairly? Can you gather evidence to show what you’d get on the open market.? HR tend to do market assessments to get their benchmarking accurate, but if you can show them what you have found, it may further your cause.

Always keep your CV up to date and keep your eye on what’s available. Managing your own career is something only you can do, the company is unlikely to offer more money unless they fear losing the employee or if they want to motivate and reward in-role. They need the incentive, which you can give, by showing you have a choice to stay or go.