Depends, really and it’s very subjective from pilot to airline procedures… For me personally, I always retract my flaps during take off when my airspeed has reached the S speed on the PFD airspeed indicator.
Then when the LVR CLB is flashing on the FMA, I pull the throttle back to the CL detent.
Once I think everything is stable, I engage Autopilot. This is a video of me taking off, for example.
