This is very common.

Just like most people, you feel that you are underpaid. If you feel you are significantly underpaid, you should discuss this with your manager.

The company policy may not be friendly to you when it comes to determining your fair market value, but using your good communication skills , you can help improve the policy.

It sounds like you received a good raise last year, which means not only was your good work valued by words but also shown on your paycheck.

Again, you are not alone. Feeling being underpaid is very common in workplace. Knowing this will help you sleep a lot better. Good luck!