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- In 2024, the basic pay for new officers begins at $3,826.20, while more senior officers with a paygrade of O-4 and over 10 years of service will receive $8,684.10 monthly1. Additionally, military retirees and disabled veterans will see a 3.2% increase in their monthly checks due to the annual Cost of Living Adjustment (COLA)2. Furthermore, a 5.2% military pay increase will go into effect on January 1, 2024, which is the largest jump in pay for service members and civilian defense employees in 20 years3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A new officer's basic pay begins at $3,826.20 in 2024, while a more senior officer with a paygrade of O-4, having served more than 10 years, will receive $8,684.10 monthly.www.military.com/benefits/military-pay/chartsMilitary retirees and disabled veterans will see their monthly checks increase by 3.2% for 2024, thanks to the annual Cost of Living Adjustment (COLA) due to inflation. While 3.2% may look low compared to the 2022 (5.9%) and 2023 (8.7%) adjustments, it's still above the average of 2.6% for the prior 20 years.www.military.com/benefits/military-pay/allowances/…A 5.2% military pay will go into effect on January 1, 2024. It’s part of the National Defense Authorization Act (NDAA). The pay increase is the largest jump in pay for service members and civilian defense employees in 20 years.veteran.com/2024-military-pay-charts/
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