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fy23 military pay raise

2023 Military Pay Charts The Military Wallet. Military members may receive a 4.6% pay increase in 2023, according to a defense budget draft. It’s the largest military pay raise in two years, but it might not be enough to keep up with inflation, which was 8.6% in June, according to the Bureau of Labor Statistics. If passed, military pay increases will go into effect on Jan. 1, 2023.

2023 Military Pay Charts The Military Wallet
2023 Military Pay Charts The Military Wallet from d12t4t5x3vyizu.cloudfront.net

Here are the projected 2023 military pay charts. Troops may see a 4.6% pay increase in 2023, according to the Employment Cost Index (ECI) formula and the draft 2023 defense.