If you’re capable of performing at the L+1 level, start doing so - do not wait to be promoted or compensated for it first. You are promoted, because you have already started taking on the responsibilities of the next level.
Principal Engineer II at Razorpay - building Agent Studio, Ex-staff engg at GCP Memorystore & Dataproc, Creator of DiceDB, ex-Amazon Fast Data, ex-Director of Engg. SRE and Data Engineering at Unacademy. I spark engineering curiosity through my no-fluff engineering videos on YouTube and my courses