Are you a contractor? If so, you can be sure they are charging the client at least 2x your current cost to them, probably more if they pay you so little. This multiple they use also gives them room to pay you more. As someone state above, it might be tough to just ask for a raise, but it's much easier negotiate when you have better offers in hand. Also, have you had your yearly review/raise yet? If not, I'd wait until after that happens, and see how it goes, to make some noise/moves. Maybe they are planning a big raise after the first year (my company did), and if you complain now/ask for too little, you may hurt your ability to negotiate after the fact.