I'm a senior developer and team lead that's been with my company since leaving college. I've recently found that a colleague, who was hired last year as a senior engineer (so a step below me technically) is on roughly 20% higher wages than I am.
Two years ago I asked for a wage increase when I took on the team lead role and was told no the money wasn't there. I received my cost of living adjustment this year plus a raise which amounted to 12%. The 20% difference is after this was applied so this time last year I was closer to 30% below my colleague.
Given that I was refused this raise in the past how should I approach the conversation. My initial thought is to mention to my manager that I discovered the wage being paid to my colleague and mention that I would like to discuss the situation later in the week.
Edit - Thanks all just some clarifications from the comments.
1) My colleague has less overall experience than me and I am also a senior developer, not just a team lead. I perform the menial team lead stuff as well as actively developing.
2) I'm also looking around for another opportunity, that's not what I'm asking about. What I'm looking for is an approach to the negotiation.
3) IANAL but I believe that salary rates are not confidential in my country or contract
4) My colleague has handed in his notice so it's natural for discussion of salary to have come up between us