Military.com's Military pay charts give you all the information you need. I mean im just a kid but to me military pay looks really solid especially considering how hard it is for college grads to get jobs right now in certain fields. Thanks Uncle Sam! As far as 10k-20k in student debt....that amount is nothing. I plan on getting out and have a job lined up making 100k plus and I am a E6. Note: We are going to not compare a 4402 position to the rest of the public sector, because that's too easy of a win for the military. You get 50% of your bonus up front and the rest is paid over your entire enlistment. Military Pay Calculator; Basic Pay Charts – See link for pay charts This is my opinion. (sorry, no DC to suck the political dick for when your contract is up) Your BAH is $2841.00/month or $34,092/year! Plus you get 30 days of vacation every year and a shit ton of holidays. I make 2,400 a month. Its all about perspective. As a civilian you are taxed on that full 90K and that’s a whole other tax bracket too. If you really want to make money in the service then go the officer route or sign up for a special program that pays if you pass the course. Does everyone have leadership like that? If I count all the ammo I've shot then I made six figures as a grunt. E-4 with over 4 years is around $2400, plus BAH (assuming you get married) for Pendleton is around another $2400, which works out to be in the ballpark of $57,000. for a kid fresh out of highschool with no "hookup" into a good job, its pretty decent pay, if you live out in town you obviously dont have to use ur full BAH either, New comments cannot be posted and votes cannot be cast. If you want to join, fine, but lower your expectations for pay by a few magnitudes so you won't be disappointed. This is generally the last 3 years of service and is sometimes called high-3. The amount paid is $225 per month for all ranks. TSP Spillover Contributions. Pay in the military is what you make of it. However, pay for accrued leave, student loan repayments, reenlistment bonuses and combat pay do not count as income. Nope. Now that’s great but I’m only taxed on my base pay. Fucking double taxed! Pay in the civilian sector is highly dependent on career field, while military pay charts standardize pay for service members of all occupational specialties, said … Sweet! I think, it might be higher. Military pay isn't designed to be competitive it's just designed to pay you enough to feel like a normal person. Cuts For Military Retirement Benefits? Further, understand certain benefits your position may give you once you transition into the civilian world (such as more hands on experience--like actual trial work and snagging a security clearance in the above example). Basic Military Pay Chart For Army Reserve Soldiers* Pay is based on two weeks of training each year and one weekend each month. Will the military pay off student loans? In this post, we will talk about what to use Advance Pay for, how to optimize it for… But the amortization period on that is going to be FOREVER with such small payments. Appreciate it! No one is that competitive to 18 year olds with no college or real work experience. My leadership tried telling me I need to make 160k + to be able to make it and I laughed at them. This starts your TIS for pay purposes (important). That leaves plenty of time to shove his disposable income into strippers' G-strings. Well, except MC qualifies for Public Service Loan Forgiveness after 10 years of minimum payments, and part of his re-contracting incentive involves money for repayment of outstanding loans. http://militarypay.defense.gov/Calculators/RMC-Calculator/. The method used depends upon when the member first entered military service. However you don't pay rent or bills or anything like that. For a more detailed military pay estimate, use our Navy pay calculator. It helps, yeah, but it's not absolutely necessary. Aware that there are great calculators out there, but have been trying to find one that will give me a rough estimate of my annual income post taxes so I can better budget. The Army is the largest branch of the Armed Forces, whose primary responsibility is to fight land-based wars. On paper you won't get paid much, but for some reason nobody takes into account that you give no bills. Yes, after taxes, rent, utilities, gas money, work clothes, food, health insurance, dental, vision, etc. That's 15k up front and then 208 dollars for 72 months after that. I mean, I make ~70K now, yet with the increased cost of living I'm actually worse off than when I was in the military. TSP for Military. Press question mark to learn the rest of the keyboard shortcuts. Is military pay actually very competetive? However, for an enlisted member with years of experience, trained in a critical technical specialty, it's not all that great when compared to wages for a similar civilian job. For a more detailed military pay estimate, use our Air Force pay calculator. Where was the power point on this? I figure 60k a year as an E6 I need 90k plus a year as a civilian. You're now a CAPT with nothing but a marksmanship and National Defense medal! Being in the military does not exempt you from income tax, but some of your pay and benefits can’t be considered “income.” Your basic pay, active duty pay, bonus pay and incentive pay are all taxable income. That's another $3,043.56/year. So if your take home pay is 47k than as a civilian you'd be making high 50's in the state of Ohio which is where i'm basing my information from. It would be hard for a high school recruit with no work experience to find a better starting wage. ... help Reddit App Reddit coins Reddit premium Reddit gifts. The high-36 method is the average of the highest 36 months of basic pay divided by 36. Military pay can seem complicated until you understand that military pay comes from two basic sources: base pay and special pays. Either way, military pay is outstanding. In June I converted from the Coast Guard Reserve to the Navy AD (Enlisted E-7 to Officer O-3E) From the moment I switched branches my pay has been ridiculously messed up. Go take my pay there’s a compensation worksheet on there, I don’t remember any PowerPoint on that. TSP Option for Army, Navy & Air Force Reserve, National Guard. CC has to pay $390/month for the family plan so his kids can see a doctor. As of 2016, there are roughly 330,000 Sailors on Active Duty, and 100,000 in the Navy Reserve. This sucks. The only difference is when overseas, civilian pay will be considerably higher. PSMC: personal statement of military compensation. The calculator includes all Regular Military Compensation (RMC) including Base Pay, BAH, BAS and which portions that are taxable and tax-free. Medical Corps Incentive Pay (IP) and Retention Bonus (RB) - FY2021. The average of recent medians is slightly higher, but that also includes pre-recession numbers. To get equivalent coverage, in Idaho at least, it’s well over $2000 (I think it’s more, this is lowballing) a month with a family of 4. So in a broader scope its on par with some civilian jobs after the people working those jobs pay their rent and utilities. However, I would give the military a minor nod in this situation with regards to pay, and likely regarding work-life balance (at least in my opinion)--which many find to be an "invaluable" part of their employment. You'll now return to school and do normal student things for 2 more years. 2011 is an example of a time of fiscal re-evaluation and possible reduction in veterans' retirement benefits. You only make 3800 in BAH a year? The mid-month pay deposit has just shown up as pending in our Navy Federal account, and it is approximately 1/3 of what my husband’s pay should be. Pay rates for officers Pay rates for general service officiers, pilots, medical, dental and legal officers. I guess I should just say I’m single. And no matter what on the 1st and 15th you get paid the same amount, so there's no need to worry about making up hours or whatever. Lets say you sign up for six years and get 30k. Military pay is not all that bad—but it isn't all that great, either. Chart reflects Drill Pay only and does not include bonuses, allowances and other benefits. I’m not seeing a box to tick for married to another military person. Advance Pay is one of the awesome things about moving every 2-4 years in the military. Return to school and pinned on Captain ( O-3 ) all up frunt when joined. The name implies, establishes the retired pay base equal to final basic pay applicable E-1... 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