I'm trying to understand the financial side of joining the military. Can anyone provide insight into how enlisted military pay works for 2024? What are the starting salaries, and do they increase over time or with rank?
Sure, I'd be happy to provide an overview of how enlisted military pay works in 2024.
The military compensation system is quite complex as it consists of both base pay and special pay.
Base pay is determined primarily by rank and years of service. Each rank has a corresponding pay grade, ranging from E-1 for the lowest enlisted ranks to E-9 for the highest. As an enlisted member, you'll start at a rank somewhere between E-1 and E-3, depending on various factors like having a college degree or other qualifications. The Department of Defense publishes an annual document called the Military Pay Table, which lists exactly how much people on each pay grade and step earn.
As you are promoted and gain in rank or tenure, your base pay will increase. For instance, if you achieve the rank of E-7 (Sergeant First Class in the Army, for example) with over 10 years of service in 2024, you'll make $4,886.40 every month.
Aside from base pay, the military also provides BAH (Basic Allowance for Housing) which varies by location and dependency status, BAS (Basic Allowance for Subsistence), and possible incentive or special pay (such as Hostile Fire Pay or Hazardous Duty Pay).
This only scratches the surface of military pay. To gain a better understanding, I recommend checking out the Military Pay Table for the most up-to-date and comprehensive information on pay grades and allowances. It can be pretty dense, but it's the best source for accurate information!
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