The U.S. Department of Defense budget for fiscal 2024 is approximately $840 billion, marking a significant investment in military salaries, weapons, and development.
Military salaries have surged recently, with a notable 5.2% increase in 2024— the highest pay raise in two decades, addressing rising living costs.
Enlisted personnel often find themselves at the lowest pay grades, while seasoned commissioned officers O-6 and higher can earn over $200,000 annually in basic pay.
Those who transition from enlisted to officer roles (O-1E to O-3E) receive additional pay recognition for their prior active-duty service.
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