If you’re setting your sights on a big pay raise next year, you may want to temper your expectations.

Most employers plan to notch up salaries by an average of 3.4% in 2026 — on par with this year’s reported increases, according to a new survey from The Conference Board.

“Today’s labor market is one of reorientation, not retreat,” Mitchell Barnes, an economist at The Conference Board, told Yahoo Finance. “Employers anticipate steady compensation growth in 2026, but the underlying mix suggests some companies are scaling back, including signing and retention bonuses.” READ MORE