Senate Seeks Additional Boost to Military Pay

[DredPiratRobrts]

WASHINGTON -- Senate lawmakers on Thursday backed a higher-than-requested 3.9 percent pay raise for all military personnel in their first draft of the fiscal 2009 defense authorization bill.

Full Story: http://www.military.com/features/0,15240,166924,00.html

---

Members don't see this ad.

 

[elderjack21]

WASHINGTON -- Senate lawmakers on Thursday backed a higher-than-requested 3.9 percent pay raise for all military personnel in their first draft of the fiscal 2009 defense authorization bill.

Full Story: http://www.military.com/features/0,15240,166924,00.html

Good news and you know this President doesn't even hesitate to spend more money on anything, especially if it is for the DoD.

 

[Perrotfish]

I just found out that money is free. No need to ever pay for anything you spend, so just vote for everything anyone wants to keep everyone happy. Its just like how subprime mortgages have helped every American get the Mansion they always wanted.

Economic rant aside, what I am really hoping for is that they pass Senator Webbs update of the GI bill. That would make being a military physician a WAY better financial decision.

 

[elderjack21]

I just found out that money is free. No need to ever pay for anything you spend, so just vote for everything anyone wants to keep everyone happy. Its just like how subprime mortgages have helped every American get the Mansion they always wanted.

Economic rant aside, what I am really hoping for is that they pass Senator Webbs update of the GI bill. That would make being a military physician a WAY better financial decision.

What does Senator Webb's version propose that would help military physicians?

 

[Perrotfish]

What does Senator Webb's version propose that would help military physicians?

Senator Webb´s version would help all members of the military. Basically it would expand the benifits of the GI bill back to WWII levels, when it paid for the full costs of a 4 year education at the most expensive public universities, including a stipend you can withdraw for living expenses. This would also dramatically increase the payout for military physicians who went on to do civilian fellowship, MPHs, etc. Basically think the current GI bill, and then more than double it.

Not 100% sure of the current details, it´s changed alot as he´s tried to push it through committee.

 

[The White Coat Investor]

The problem with a 3.9% pay increase it is only applied to your base pay. I don't know about the rest of the docs here, but I'm halfway through my tour and my base pay is only 55% of my pay. So that 3.9% is really just a 2% increase, well under the rate of inflation. If it wasn't for the years of service raise every couple years and the occasional promotion I wouldn't ever get a real raise.

 

[73BARMYPgsp]

I'm pretty happy with the pay increases we have been receiveing over the last 10 years or so. My ex father in law was an Air Force MAJ in the 80's and he was dirt poor.

 

[IgD]

I'm pretty happy with the pay increases we have been receiveing over the last 10 years or so. My ex father in law was an Air Force MAJ in the 80's and he was dirt poor.

Wait until you come on active duty, your supervisors micromanage your workload output but at the same time pay you half of what your peers are making. The good things about RVUs is that you can calculate how much you would make as a civilian easily.

 

[73BARMYPgsp]

Wait until you come on active duty, your supervisors micromanage your workload output but at the same time pay you half of what your peers are making. The good things about RVUs is that you can calculate how much you would make as a civilian easily.

This may be true for MD's, but I don't know any clinical psychology interns who be making even 1/3 of what I will when I go active. It will take them about 5 years to "catch up" but by that time I will be an 0-4 with >13. In that sense, unless one of them becomes the next Dr Phil, or has a thriving private practice in Beverly Hills, they will never catch me.

 

[IgD]

This may be true for MD's, but I don't know any clinical psychology interns who be making even 1/3 of what I will when I go active. It will take them about 5 years to "catch up" but by that time I will be an 0-4 with >13. In that sense, unless one of them becomes the next Dr Phil, or has a thriving private practice in Beverly Hills, they will never catch me.

Do you guys get anything in addition to base pay? You've got to think long term. Internship is only 1 year. What about for the rest of your career?

 

[73BARMYPgsp]

Do you guys get anything in addition to base pay? You've got to think long term. Internship is only 1 year. What about for the rest of your career?

ABPP certified gets a litte extra a month. But still, the trajectory is above average for a clinical psychologist career. Even after internship, (civilian to civilian comparison) we tend to make about 1/2 of what MD's make (depending on specialty of course). In the military, it's way higher over the career lifespan. Plus I love the Army.

 

[Perrotfish]

Huh, there´s an editorial about the GI bill at the top of the NY times today. Wierd. It´s very partisan, but an interesting read. Link below:

http://www.nytimes.com/2008/05/06/opinion/06herbert.html?hp

 

[The White Coat Investor]

This may be true for MD's, but I don't know any clinical psychology interns who be making even 1/3 of what I will when I go active. It will take them about 5 years to "catch up" but by that time I will be an 0-4 with >13. In that sense, unless one of them becomes the next Dr Phil, or has a thriving private practice in Beverly Hills, they will never catch me.

That's the difference between psychology and medicine. Psychologists don't make much more than military officers. Doctors do. Nothing wrong with that. That's just the way life is. I have said many times that the military can be a very good financial deal for lots of people (particularly those who enlist at 18 and leave with an E-7 retirement pension and life-long health care benefits at 38.) For a doctor coming on active duty at 29-35 who will be paid 1/2 what he is worth for most of his career, that hurdle is a whole lot higher.

 

[73BARMYPgsp]

That's the difference between psychology and medicine. Psychologists don't make much more than military officers. Doctors do. Nothing wrong with that. That's just the way life is. I have said many times that the military can be a very good financial deal for lots of people (particularly those who enlist at 18 and leave with an E-7 retirement pension and life-long health care benefits at 38.) For a doctor coming on active duty at 29-35 who will be paid 1/2 what he is worth for most of his career, that hurdle is a whole lot higher.

The only point I would make here is that we are doctors. Just not MDs.

 

[The White Coat Investor]

The only point I would make here is that we are doctors. Just not MDs.

Fair enough.

 

[Spartanvet4cows]

This is something I've also noticed with veterinarians. One of the reasons I took the HPSP deal is that I'll have just as much debt as an MD, but starting salary for most vets doesn't make it above $55k. Also, we don't have to deal with internship/match right away. Only about 30% of our grads actually do one. Also - the AFIP residency for vets looks frickin awesome and I'm stoked to do that if I decide I like the army. If not, it's really nothing lost for me because most veterinary programs see the Army experience as a positive thing on a resume. They do need to make the military programs more attractive to MD's - better chance of getting the residency you want, better pay, etc. Otherwise they're just shooting themselves in the foot.
So, yay for an increase in basic pay, but lets see some improvement for the MD's!

 

[Perrotfish]

Quick update, the house just got one step closer to actually passing that GI bil, the vote is probably going to be next week. There are a lot of hurdles left, but it it looks like it actually might pass.

http://www.washingtonpost.com/wp-dyn/content/article/2008/05/14/AR2008051403469.html?hpid=topnews