Outside of a technical jobs (aviation guys, computers, etc) most contractors make the same or less than you do. You don't need a degree to do what I do. MC has to deal with some military bullshit, but he's also in a MOS that's a little bit safer from it. Yay! Plus, his work week is going to be geared towards the 40-50hr range (mostly). CC can divert his leftover funds into paying this down asap, but it's still going to take considerable effort. Chart reflects Drill Pay only and does not include bonuses, allowances and other benefits. Military Employment Verification. The final pay method, as the name implies, establishes the retired pay base equal to final basic pay. Between Tricare, BAH, BAS, tax reductions, retirement stuff and so on. 2021 Pay Charts. Lets say you sign up for six years and get 30k. Part 5-- Military Pay. Edit: In other words, military pay is not competitive. Fucking double taxed! 2020 military allowances, incentives, bonuses and special pay. But the amortization period on that is going to be FOREVER with such small payments. MC Wasn't a mongoloid and has a state that doesn't tax military income as his state of residence. Military.com's Military pay charts give you all the information you need. Press question mark to learn the rest of the keyboard shortcuts. And that still leaves a $4000 deductible, co pays, and having a very limited area/people that can provide medical care. 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. If you want to join, fine, but lower your expectations for pay by a few magnitudes so you won't be disappointed. TSP Spillover Contributions. Your pay is based on your rank, time in service, and family size. For a more detailed military pay estimate, use our Air Force pay calculator. Fuck! 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. Ive got a sticky question for those well versed in the military pay system. The amount paid is $225 per month for all ranks. We had a TSgt the same way. If it was such a good optio... don't you think more people would do it? No one is that competitive to 18 year olds with no college or real work experience. 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. 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. I think its a easy way to save up for buying a house or maybe a small business when you leave the military. I have a wife and some little monsters running around, so I haven’t even done the math on medical and dental. Advance Pay is one of the awesome things about moving every 2-4 years in the military. The other pays, often referred to as special and incentive pays, are for specific qualifications or events. Nope. Plus having a STEM job means you can jump to other companies for better pay. Its all about perspective. The pay rates are all listed online. Didn’t put the full effort in, but my napkin math as a E-5 with 9 years in looks like this for yearly compensation: Base pay (net): $36k BAH: $22,800 BAS: $ 3,876. The Final Pay plan uses a multiplier % that is 2.5% times the years of creditable service. I got an enlistment bonus when I joined and got it all up frunt when I graduated my skool house. You're assuming best case scenarios, which almost never happen. http://militarypay.defense.gov/Calculators/RMC-Calculator/. 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 get 50% of your bonus up front and the rest is paid over your entire enlistment. 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. Yup, not a … The really bad part of our pay is how it translates to civilian life. This starts your TIS for pay purposes (important). Remember, clear post titles get clear answers. I live on base, so I don't pay rent or any utilities. Press question mark to learn the rest of the keyboard shortcuts. It helps, yeah, but it's not absolutely necessary. TSP for Military. Both of these guys came out with $90k in debt. I figure 60k a year as an E6 I need 90k plus a year as a civilian. During times of budget deficiencies and a down-turned economy, the military retirement system is evaluated in order to cut federal spending. Military Pay Calculator; Basic Pay Charts – See link for pay charts The method used depends upon when the member first entered military service. 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. If you get a good job after you get out and use the VA for Healthcare, and don't spend your money on stupid shit you can live comfortably. Cuts For Military Retirement Benefits? 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. Budget deficiencies and a down-turned economy, the military future military pay by rank time. Assuming best case scenarios, which almost never happen the high-36 method is the average of Armed... 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