Press question mark to learn the rest of the keyboard shortcuts. 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. I’m not seeing a box to tick for married to another military person. MC makes less, so that's bad - right? Thanks, Uncle Sam. I guess I should just say I’m single. If you are an E4 who doesn't ever get sick, only do your annual dental, and never go anywhere and family doesn't ever get sick then you only need to make about 50-60k a year to live the same lifestyle. http://militarypay.defense.gov/Calculators/RMC-Calculator/. You're now a CAPT with nothing but a marksmanship and National Defense medal! Please forget everything you just said. As far as 10k-20k in student debt....that amount is nothing. It would be hard for a high school recruit with no work experience to find a better starting wage. That's why, as an E-3 in the barracks my PSMC was $50k. First time in 10 years." Sweet! The Air Force's primary responsibility is developing and maintaining air, space, and overall technological superiority for our military. The Air Force isn't really known for the machismo that some of the other branches are, and on top of that I work in communications (aka nerd stuff, which weeds out most of the meatheads).. CC is a 1st year associate, so he'll be working 70+ hours per week for at least the next 4 years. E-1 is the 1st enlisted paygrade in the United States military, with monthly basic pay ranging from $1,733.10 for an entry-level E-1 to $1,733.10 per month for E-1 personnel with over 40 years of experience. 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. Further, since you posted on a Marine sub-reddit, we'll use their typical career path: Contract during your first year of law school, commission that summer after OCS. 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. I'm not doing these guys' income taxes, but let's just assume that the lack of state tax made them even. As a civilian contractor, I just cannot agree with that last statement. It looks pretty appealing. Basic pay is received by all and is the main component of an individual's salary. Rank >2 Years 4 Years 6 Years; Private (E1) $3,639.51** $3,639.51: $3,639.51: Private (E2) $4,079.25: A Re-enlistment bonus isn't paid straight cash money. Pay groups and factors that determine pay for the Canadian Armed Forces. Community for current, future, and past members of the US Air Force. The Navy's primary responsibility is to perform both "blue water" (sea-based) and "green water" (littoral or shallow-water-based) military operations. That's 15k up front and then 208 dollars for 72 months after that. It's based on an individual's rank and the number of years you've been in the service. 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. Run a search first, and then post your question. I’ve been told I’d have to make 65k all the way up to 100k to live a similar life style. An entry level position for a STEM job is probably around $60,000 and you'll be around 22-24 years old with $10,000-$20,000 in student loans. The method used depends upon when the member first entered military service. Retired pay: The first $5,000 is tax-free. Remember, clear post titles get clear answers. Either way, military pay is outstanding. The only difference is when overseas, civilian pay will be considerably higher. Press question mark to learn the rest of the keyboard shortcuts. Fuck! Sweet! In general you won't get paid a lot. It helps, yeah, but it's not absolutely necessary. Plus you get 30 days of vacation every year and a shit ton of holidays. However, pay for accrued leave, student loan repayments, reenlistment bonuses and combat pay do not count as income. For a more detailed military pay estimate, use our Army pay calculator. Military members who are assigned or deployed to a designated combat zone are paid a monthly special pay, known as combat pay (or Imminent Danger Pay). That's odd. The Air Force failed me. Medical Corps Incentive Pay (IP) and Retention Bonus (RB) - FY2021. I made this excel document to show Lieutenants how these small contributions add up. 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. Basic Military Pay Chart For Army Reserve Soldiers* Pay is based on two weeks of training each year and one weekend each month. You only make 3800 in BAH a year? We had a TSgt the same way. 2020 military allowances, incentives, bonuses and special pay. The government will give you an interest-free advance on your pay with 12 months to pay it back! Ive got a sticky question for those well versed in the military pay system. The final pay method, as the name implies, establishes the retired pay base equal to final basic pay. For a more detailed military pay estimate, use our Navy pay calculator. No one is that competitive to 18 year olds with no college or real work experience. TL;DR: Do the research on the position you want and the pay it will have at different steps compared to your own Civilian Comparison. I think its a easy way to save up for buying a house or maybe a small business when you leave the military. The amount paid is $225 per month for all ranks. The high-36 method is the average of the highest 36 months of basic pay divided by 36. Yup, not a … Lets say you sign up for six years and get 30k. Your pay is based on your rank, time in service, and family size. 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. Between Tricare, BAH, BAS, tax reductions, retirement stuff and so on. Where was the power point on this? School is expensive, man. Both of these guys came out with $90k in debt. That's damn good considering the GI bill is still available, along special pay like combat pay, tax exemptions like sea service and reenlistment bonuses that come every four years. I make 2,400 a month. Stateside? Officer Submarine Duty Incentive Pay; Pay Grade Less Than 2 Years Service Over 2 Over 3 Over 4 Over 6 Over 8 Over 10 Over 12 Over 14 Over 16 Over 18; O-10: $355 Military Pay Calculator After Taxes? Even though I technically meet the qualifications (gay + military), my perspective is probably too limited to be useful. And that still leaves a $4000 deductible, co pays, and having a very limited area/people that can provide medical care. Edit: In other words, military pay is not competitive. Yes, but not for spouses.Unfortunately, there is no military student loan forgiveness for the spouses of service members. 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. 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). Outside of a technical jobs (aviation guys, computers, etc) most contractors make the same or less than you do. Just because he is terrible at his job and couldn't make more than 40k doesn't mean others are going to have the same problem. All branches of the United States armed forces (Army, Navy, Air Force, Marine Corps, and Coast Guard) are paid a base salary determined by the 2020 Military Basic Pay Chart, with additional allowances for things such as housing and meals.Servicemembers are also compensated for hazardous duties and drilling.. FederalPay maintains updated pay charts for most types of military compensation. For a more detailed military pay estimate, use our Air Force pay calculator. The other pays, often referred to as special and incentive pays, are for specific qualifications or events. Appreciate it! Beer money! The calculator includes all Regular Military Compensation (RMC) including Base Pay, BAH, BAS and which portions that are taxable and tax-free. In May 2018, for example, he declared to graduates of the United States Naval Academy: "We just got you a big pay raise. I have a wife and two kids and I've been in for 6 years. I have a wife and some little monsters running around, so I haven’t even done the math on medical and dental. Its all about perspective. PSMC: personal statement of military compensation. Press J to jump to the feed. civilians have little disposable income. Many military members qualify for special pays and incentives that are part of the service’s recruitment and retention efforts. Base pay is the same across all service branches and is based on rank and time in service, with pay raises according to years of creditable service. Your intelligence and being slightly tougher than the other law contracts at TBS means you got your 2nd choice duty station of Hawaii! Tried scaring people getting out saying they need to make 100k to live like they do now as E4s and E5s. However you don't pay rent or bills or anything like that. But DAMNIT! End Result It comes out about even, really. In this post, we will talk about what to use Advance Pay for, how to optimize it for… obviously this changes in places like say New York but then your BAH compensates for that change. As of 2016, there are roughly 300,000 Active Duty, 100,000 Air National Guard, and 70,000 Reservist Airmen. TSP Option for Army, Navy & Air Force Reserve, National Guard. From free health insurance to half your income being tax-exempt (if receiving BAS/BAH) the benefits are immediately obvious - all of your pay is essentially disposable income. You'll now return to school and do normal student things for 2 more years. And medical (pretty much socialized medicine), life insurance, pension contributions, education benefits, commissary, tax free exchange, moving costs, etc. That’s way easier. This sucks. 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. Source, Because you live off base as a cool single officer, you also make $253.63 in BAS! MC's kids ride free on that sweet Tricare train. Holy shit, CA's is 2300 a month. Am I missing something here or does the military pay extraordinarily well and even better than the civilian world? I’ve never even heard of that! Nope. As of 2016, there are roughly 330,000 Sailors on Active Duty, and 100,000 in the Navy Reserve. As a civilian you are taxed on that full 90K and that’s a whole other tax bracket too. If I count all the ammo I've shot then I made six figures as a grunt. Not to mention you can’t really put a dollar value on all the free Blue Kool Aide you could ever want. Advance Pay is one of the awesome things about moving every 2-4 years in the military. Fuck the government, Imma make my money! The Army is the largest branch of the Armed Forces, whose primary responsibility is to fight land-based wars. There are so many hidden costs in the civilian world (health insurance, higher taxes, not shopping at the px/commissary) that military pay is actually better in net terms for a lot of cases. 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. I believe there is something on MyPay and/or Portal that will tell you how much all of your pay and benefits are worth. Some compensate members for assignment to hazardous or difficult duty conditions. Military Pay Calculator; Basic Pay Charts – See link for pay charts Pay in the military is what you make of it. I've watched 3 coworkers get out and are making 80-120k and all are living better than when they were an Airman. Good on him, now he's only paying his federal rate. Military pay is not all that bad—but it isn't all that great, either. At least he won't have time to spend his paycheck, right? Chart reflects Drill Pay only and does not include bonuses, allowances and other benefits. So in a broader scope its on par with some civilian jobs after the people working those jobs pay their rent and utilities. Go take my pay there’s a compensation worksheet on there, I don’t remember any PowerPoint on that. MC is riding that sweet Tricare train. The Final Pay plan uses a multiplier % that is 2.5% times the years of creditable service. Whoo! 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. CC can divert his leftover funds into paying this down asap, but it's still going to take considerable effort. MC can show a lower basic income and qualify for income-based repayment that will have a lower monthly minimum payments. On paper you won't get paid much, but for some reason nobody takes into account that you give no bills. TYFYS!! You have to be married to get that much. The army will pay back your student loans (if you get it in your contract) and will pay for further education. It's a tool used to determine how much you need to make as a civilian to maintain the same standard of living, New comments cannot be posted and votes cannot be cast. You're assuming best case scenarios, which almost never happen. My leadership tried telling me I need to make 160k + to be able to make it and I laughed at them. Yes, after taxes, rent, utilities, gas money, work clothes, food, health insurance, dental, vision, etc. In my opinion military pay compared to civilian is tricky and also based on how many military benefits you actually use. You don't need a degree to do what I do. For example, there are special pays for aviators and parachutists; special pays are also paid for dangerous or hardship duties. I live on base, so I don't pay rent or any utilities. TSP for Military. Let's factor in pay beyond your basic pay: CONGRATS! You're making less than half of what some slapdick who couldn't even crack the top 25% makes! 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. This is my opinion. Honestly, with the research I’ve done, it looks like tricare is the military’s single biggest benefit. Maybe someone on here can chime in. CC has to pay $170 a month for health coverage at his firm. 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. I think, it might be higher. When they go to a new company they'll enjoy another 5k-10k raise which is something you'll never get in the military. S great but I ’ m not seeing a box to tick for married to another military person on (. Between Tricare, BAH, BAS, tax reductions, retirement stuff and so.! Ive got a sticky question for those well versed in the Navy Reserve: base pay person will call! Pay off all your expenses that competitive to 18 year olds with no college real! Result it comes out about even, really technically meet the qualifications ( gay + )... Join, fine, but lower your expectations for pay by a few magnitudes so you wo n't time! 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