Its Salary Survey 2026 showed only 27% of professionals expected a salary review this year, while 56% were unsure or did not expect an increase.
The IFS found younger workers who moved into self-employment were much less likely to keep saving in a private pension than older workers.
Starting salaries for non-commissioned ranks will rise by nearly £1,000 to £27,282, while junior officers will see a £1,250 increase to £35,926.
42% said they had been forced to turn to friends and family for help when their income did not cover bills.
Based on 2026 rental data and average salaries, Birmingham commuters could see £956 more per month from the salary uplift, plus £1,373 in rent savings.
The findings come as consultants and specialist, associate specialist and specialty (SAS) doctors in England are being balloted on potential industrial action over pay.
The Offshore Wind Fair Work Charter, launched by the Department for Energy Security and Net Zero, has been backed by 37 companies and six trade unions.
The median pay increase stayed at 3.5%, while the proportion of higher awards grew from 21% in March to 33% by April.
The proposals aim to improve working conditions and prevent exploitation in the sector.
The misconception was more pronounced among those who already hold a policy, with 61% of this group believing it covers redundancy.
The lender plans to treble the size of its fleet by the end of 2030.
The agreement delivers a 4.6% pay rise for staff, with around 20,000 lower-paid employees set to receive a 5.35% increase.