How do I ask for a promotion and better comp? or is it time to leave (again)

Looking for some advice.

I have been getting good reviews but title / compensation doesn't seem to be moving up in-line. I had not been very aggressive in pushing for a promotion because fund performance isn't great (bolded because it really isn't looking good YTD) but someone else at my fund (same title) pushed aggressively and got it. He got it ahead of me, even though we both came in at the same time, the same prior titles (while coming in) and I have had slightly better returns. I brought it up very politely in my mid-year review that I was concerned I was falling behind but got a "corporate-speak" answer.

This happened in my previous job as well. Good reviews but left out of promotion discussion, with an external hire coming in senior to me (who ended up being a massive d*** to me).

Part of the blame is definitely me - 2x in a row this has happened. I just work hard (reflected in reviews) but somehow I just don't end up making that leap (without leaving the firm).

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