I'm thinking of enlisting and heard there's a bonus for signing up. When exactly do new recruits receive this bonus? Is it upfront, or after completing training? Just trying to plan financially before making any decisions.
If you've decided to enlist in the military and qualify for an enlistment bonus, you generally receive the first part of this bonus after you've completed Basic Training and your Military Occupational Specialty (MOS) training. The remaining portion is typically distributed annually in installments for the duration of your initial enlistment contract.
Keep in mind that enlisting bonuses are not guaranteed for every enlistee, and they can vary greatly. These bonuses are often used as an incentive for positions that are in high demand or are difficult to fill, and the amount depends on the length and type of your enlistment contract.
Remember, you must fulfill your entire commitment to receive the full bonus. For example, if you do not complete your contracted time, you may have to repay a prorated portion of the bonus.
Lastly, enlistment bonuses are considered income and as such, they are subject to taxes as well.
Always make sure to carefully read your enlistment contract and ensure your bonus is clearly stated there. Speaking openly with your recruiter about this subject can help clear out any misunderstandings. It's always beneficial to sort out financial issues beforehand, as you mentioned.
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