1 / 24

How Much do YOU really make compared to your Civilian Counterparts

How Much do YOU really make compared to your Civilian Counterparts. Provided by your Career Development Training Team. References:. National Minimum Wages (By state): http://www.dol.gov/esa/minwage/america.htm

claral
Download Presentation

How Much do YOU really make compared to your Civilian Counterparts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. How Much do YOU really make compared to your Civilian Counterparts Provided by your Career Development Training Team

  2. References: • National Minimum Wages (By state): http://www.dol.gov/esa/minwage/america.htm • Health Insurance Rates: https://www.ehealthinsurance.com/ehi/Alliance%3fallid=Goo18811&sid=F • Bureau of Labor Statistics: http://www.bls.gov/home.htm • Defense Finance Accounting: http://www.dfas.mil/money/milpay/

  3. Why is this training being done? • The decision to remain in military service is not an overnight decision. Often, the decision directly impacts the immediate family (spouse, children, mothers, fathers, etc). • Preparation for continued service, or separation takes time, does not happen overnight…and MUST take proper planning to be successful.

  4. Why is this training being done? • Too often our Sailor’s rush to separate, not knowing the full impact of their decision. • I don’t like my Chief, DIVO, Dept Head, or Chain of Command… • I don’t like deployments… • I don’t make enough money… • Civilian employment has its down-sides too: • Leadership, may remain that way for years or may never change (in the military, you or your chain of command will transfer generally within 2-3 years) • Civilian employers have deployments, but they are called business trips. • It is doubtful that you will separate from military service, and make the same amount or more than you currently make (explained later).

  5. Why is this training being done? • Naval Leadership often emphasizes college (now required for E8 selection), as well as apprenticeship (USMAP)…which directly impact an individuals ability to work in the civilian sector. • The more qualifications you achieve, the more you will be worth ($$$) both in advancement as well as potentially in the civilian employment sector. • When combined with the SMART transcript…an individual can achieve an AA/AS degree in as little as six months, or as long as two years. Again, preparation is key to being successful.

  6. But I have my job lined up…or I plan to attend college… • Over the past two years, the economy, unemployment, and housing costs have drastically changed, and are very unpredictable. • How has the economy changed? The “sacred cows” that were once thought to never lay their employee’s off … has changed, more companies are drifting away from providing retirement benefit plans in an effort to save money and cut costs.

  7. Nine of 57 jobs cut, equates to 15.7% of the total workforce.

  8. CA $ 6.75 TX $ 5.15 FL $ 6.40 VA $ 5.15 OH $ 4.25 NY $ 6.75 WA $ 7.63 AK $ 7.15 HI $ 6.75 Minimum Wage BELOW Federal rate : Kansas ($2.65), Ohio ($4.25), & Virgin Islands ($4.65) NO MINIMUM WAGE LAW ~ Arizona, Louisiana, Mississippi, Alabama, Tennessee, & South Carolina. State Minimum Wage Rates What??? You don’t believe it…then let’s look at that Bureau of Labor Statistics website where this information is tracked….

  9. So….Let’s start looking at the pay…and how much you should make in the civilian sector to equal or exceed your current pay …first, we’ll look at your BAH (Basic Allowance for Housing)…

  10. What are the BAH rates where I live? (Civilian corporations, DO NOT, pay separate housing costs variant to your local housing costs….) * The figures for the national average are used in the following slides for information.

  11. I can make more money for less work outside of the Navy …. Really? Basic Math (Base Pay + 10% + BAH rate / 4 weeks / 40 hours = Hourly Rate)

  12. But…we forgot about Health Insurance…didn’t we?It shouldn’t cost that much….should it?

  13. Health Insurance Rates:by City and Single (Male/24) or Married (with Wife/22, Son/4, & Daughter/2)Figures are Minimum Premiums & Maximum Premiums based on ages. • https://www.ehealthinsurance.com/ehi/Alliance%3fallid=Goo18811&sid=F

  14. That was painful….now let’s add it to our pay to determine how much we need to make to our per hour rate to maintain our current standard of living with medical and dental coverage …..

  15. So….how much money do you make with your Medical benefits added into your pay?

  16. But I plan to attend college …

  17. What has this information told us? • DO YOUR HOMEWORK! • When/if personnel separate, how much must they make to maintain the same standard of living that they currently have. • When personnel separate, there may be additional expenses not accounted for in their budget (cable tv, trash, water, HOA, Dental Insurance, etc) • Perform To Serve requests MUST be submitted for ALL first term (E5 & below) personnel, regardless of intention to separate (to leave that door of opportunity open for continued military service for first term personnel). • The theory of the “Grass is always Greener on the the other side of the fence”……may not always be true.

  18. Closing Comments • This is no shell game, or smoke and mirrors. The websites are real, the information is real. • Research your career and plan accordingly, whether that career is in the military or in the civilian sector… you MUST plan early to be successful. • The math is easy (Base Pay + 10% + BAH + Medical estimate / 4 (weeks) / 40 hours = minimum hourly rate of pay to equal current standard of living. Calculate your pay, for the purpose of determining your worth. • See your CCC or CDTT member early (12-18 months from EAOS/PRD) for PTS screening as appropriate. • For specific questions on this subject, see your CCC or CDTT member.

  19. Thank you for your Time, and this now concludes the “How Much do YOU Make” session.Thank you for coming… NC1(SW) Michael Malone HELSEACOMBATRON THREE (HSC-3)

More Related