Two team resignations. Being asked to step up to fill the gap, pay rise?

Two senior members of our team have announced within the last 3 weeks that they are leaving.

Speaking to the team head, there is no intent to hire replacements at least until Q2, and the onus is on the rest of the team to step up, including me permanently stepping up responsibility (no free promo, obviously). I am mid ranking.

We were already stretched thin. I am sure the IB head will tell me this is a great opportunity, yadda yadda. What is the best way to broach salary/comp discussions if they're expecting me to grind double-hard for the next 6months? Surely when the time comes that the IB head lays this on me they should be presenting some sort of market payrise to reflect the sheer increase in work they are expecting of me? Not just more bonus (and who knows) at the next comp day?

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