Navy offers big bonuses as job market heats up

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As companies offer higher starting salaries and better benefits, the Navy is concerned that it cannot keep pace with what the private sector is offering. Several bonuses have sprung up. Naval aviation is offering up to $175,000 to retain some pilots.

Inflation is also putting pressure on wages. The Biden Administration is already proposing a 4.6% pay raise for all troops, which would be the largest jump in 20 years. Some Democrats in Congress have said the boost should be even higher to keep pace with inflation.

The Navy is particularly sensitive to the cost of living, with so much of the fleet based in pricy areas such as San Diego. “Especially with housing and gas prices. Obviously those have gone through the roof, gas specifically over the past couple of months. But housing, you know, for the past couple of years has had a huge negative impact,” he said.

Of course, money is only one of a number of factors that go into a person’s decision to join the Navy. The largest selling point is still a desire to serve, Yoon said.

 

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