However, if you're disappointed, there are two tacks you can take. 

I Do Things The Company Way: 
One is to commit to your current employer and work to improve your chances next time around (preferably in six months). Get to know your company better. What do they do? How do they fit into their industry? What do the other people in your building do? Get to know some of them better. Find out if there are opportunities for cross-pollination. How can you help each other to help your company? 

These Boots Were Made For Walking: 
If you aren't wed to your current job, it can't hurt to start some quiet nosing around for a new one. Everyone needs to periodically shake up their life with a challenge and this may be the hint that you've been waiting for. 

You may be pleasantly surprised at what you are offered. Even if you don't like the prospective job, it is a good bargaining chip to be able to take to your boss six months later and say forlornly, "I'd love to stay, but they're offering me so much money!". At this point you find out exactly how much you're valued (or not). They'll either counter-offer or sadly offer to help you clean your desk. If they can't meet the other offer and you simply can't bear to leave, ask if they will (IN WRITING!!) guarantee to do so in six months, with your pay increase grand-fathered to today's date.

Be Gracious In Your Acceptance Speech: 
Last but not least, show your appreciation. Most bosses are acutely aware of how difficult it is to swim upstream and want to reward people who do their jobs well. But even if she is a jerk who has never lifted a finger to help a soul, thank her for her assistance. Never let her say you were anything, but professional. You'll get the last laugh when you're making more than her in your next job.