Is joining the military good financially?
Is joining the military good financially?
The Financial Benefits Of Joining The Military: Free Education, Great Retirement, And More! Military service has many rewards, some of which can be a free college education, an exciting non-standard job, travel opportunities, and the chance to do some amazing things around the world.
How much money do you get for joining the army?
Salary. Military salaries are determined by your rank and years of service. As of January 2017, the salary for enlisted personnel in pay grade E-1 is $1,599.90 per month, or $19,198.80 per year. The starting salary for officers in pay grade O-1 is $3,034.80 per month, or $36,417.60 per year.
Do people in the military get a lot of money?
Base pay for an enlisted service member in their first six months comes out to less than $20,000 per year. But troops earn increases as they advance in rank and gain experience. Military officer pay is much higher. Newly commissioned officers make about $38,250 a year.
How do I survive on military pay?
- Dip into Emergency Savings.
- Speak to Your First Sergeant or Contact Your Service Aid Society.
- Work with Your Creditors.
- Communicate with Your Landlord.
- Raise Cash – Take on Extra Work, Sell Things, etc.
- Use a Military Bank – They Are Often Willing to Work with Military Members on Pay Issues.
What is the monthly salary of Army?
Indian Army Salary After 7th Pay Commission
| Indian Army Rank | Pay Scale | Total In-hand Cash (Indian Army Salary per month) |
|---|---|---|
| Indian Army Havaldar Salary | Level 5 | 29,200 |
| Indian Army Naib Subedar Salary | Level 6 | 35,400 |
| Indian Army Subedar Salary | Level 7 | 44,900 |
| Indian Army Subedar Major Salary | Level 8 | 47,600 |