You're probably going to get a smaller raise next year, new surveys suggest

• Workers, brace yourselves: You're probably going to get a smaller raise in 2024 than you did this year.
• Recent surveys show employers are budgeting less for merit-based raises next year.
• Many workers already effectively took a pay cut last year when their raises didn't keep pace with inflation.

If you were expecting to feel better about your pay check in 2024, think again. Two recent surveys suggest that employers will be making smaller merit-based raises next year.