Try not to worry about annual raises within your company. Chances are you'll get anywhere between zero and cost of living, with maybe the best performer in your group getting an extra percentage point. It's just not worth getting worked up over.

Think instead about increasing your value as much as possible while you're at this company. Once you're demonstrably worth a lot more than you're currently making, it's time to move on. The next guy will pay you what you're worth, whereas your current employer will find excuses to keep paying you what they're paying you.

Repeat this every 2-3 years early in your career and before long you'll be where you belong, salary wise. It's a shame that it works this way, because often one of your first companies will be a really nice place to work. If you stay there, though, you'll stay underpaid throughout your career.