Can anyone explain how military enlisted pay increases work? I'm considering the military after high school, and I want to understand how salaries might grow over time. Any insights on what to expect for 2024?
Military enlisted pay in 2024 goes off of two main components: years of service and pay grade (rank). As you advance in rank and accumulate years of service, your pay will generally increase. Let's break this down a bit more:
1. Years of Service: The longer you serve, the more you'll earn. Military pay tables assign higher base pay to those with more years of experience. For example, a Private (E-1) with less than 2 years of service might earn a certain base pay, while a servicemember at the same pay grade but with over 2 years of service would earn more. Thus, staying in the military over time can lead to a higher base pay.
2. Pay Grade (Rank): As you advance in rank, your pay grade moves up the E-scale (E-1 to E-9). Each advancement comes with a higher base pay. For example, a Sargeant First Class (E-7) will earn more than a Corporal (E-4) even with the same years of service.
Besides the base pay, your total compensation as a military servicemember also includes benefits like Basic Allowance for Housing (BAH), Basic Allowance for Subsistence (BAS), and various bonuses. Keep in mind, some of these allowances are nontaxable, which could amplify the value of your total compensation compared to a civilian salary.
Finally, remember that military pay scales are adjusted annually to account for cost-of-living increases. This adjustment is based on the Employment Cost Index and can change from year to year. For 2024, the exact rates are not available yet, but you can expect an increase in line with inflation rates.
In sum, a military career can offer steady pay increases over time due to rank advancements, years of service, and cost-of-living adjustments. But also consider the broader benefits package, which includes non-monetary compensation and various allowances.
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