Good news. If you are happy with your job and happy with the increase in pay, then its the perfect solution. When you feel its time to ask for another pay increase, which it will be in time as you are on quite low wages, then you will have the confidence to do so and not keep it inside and get all stressed about it.
As for working for yourself, it really isn't for everyone. I know everyone keeps going on about it, but maybe he is happy with a structured working life and no time wasters on the phone and doing quotes for people who never intend on using your services but just want free advice etc etc.