Early Career Crossroad – Which way to Turn?

I am a currently a systems engineer and in the second year of my professional technical career. I work for a very large, prosperous, prominent company in the DC area. I am currently doing java, j2ee, struts, and sql development on a government contract. My problem is that I am beginning to become frustrated with the salary issue in that I am not getting paid my worth. At one time I was looking around at other companies and most were willing to offer me a minimum of 40% more than what i’m making now. I do like my current company and the work is pretty good, but the annual raises are minimal and I feel that I’m just not maximazing my potential. Any advice, suggestions, or thought on what is the best thing to do?