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Apples to Apples - Tools to Help Analyze Salary Value

Military to Civilian Transition

Thank you for the military service to our country. Good luck and all the best to you and your family in your upcoming civilian lifestyle.

Compensation in the civilian world is not as simple as a number on an offer sheet. Transitioning veterans not only have to consider basics such as salary, but other “perks” and conditions that potentially come with civilian employment as well. A company phone or iPad might significantly impact your quality of life. So does the length of your commute, availability of on-site fitness and recreational facilities, proximity to a bike/running path, parking availability…you see? It’s complicated. These items say nothing of your proximity to the local base for health care, exchange, and commissary facilities and services. Working conditions also matter: will you be working in a cubicle farm or have a private office? And do NOT forget bonus eligibility! You want your new company to have the option of giving you a bonus of a certain percentage of your salary. What about stock options?

It all might sound foreign to a person who has been serving in the military for an extended number of years. Here is a list of current resources that will help you analyze your next employer and the many of the considerations I mentioned above:

A) If you are a member of Military Officers Association of America (MOAA), you'll find information on many of the items discussed above.

B) There is a current list of resources available on the U.S. Department of State's site "Salaries, Costs of Living, & Relocation".
http://useconomy.about.com/gi/o.htm?zi=1/XJ&zTi=1&sdn=useconomy&cdn=newsissues&tm=39&f=00&su=p284.13.342.ip_&tt=11&bt=6&bts=6&zu=http%3A//www.state.gov/m/fsi/tc/79700.htm.

C) www.salary.com has a salary comparison tool that allows you to compare what salary you would need to maintain your current cost of living if you move to another location.

D) CNN Money has a calculator that compares the salary where you are now and where you are going to move to. It also shows you the difference in groceries, housing, utilities, transportation and health care.
http://money.cnn.com/calculator/pf/cost-of-living/

E) How Money Walks” explains where people are moving and the tax implications of those moves. You can visit it at www.howmoneywalks.com/irs-tax-migration

F) www.glassdoor.com provides certain salaries by company as well as anonymous employee reviews.

G) If you still have access to .mil sites, try Air Force Personnel Center’s (AFPC) site. They have one that considers all your service dates in addition to your rank. Survivor Benefit Plan (SBP) is also factored in. Go to https://w20afpc.randolph.af.mil/retsepcalcnet35/retirementcalculator.

H) The ADP payroll processing company has a website that allows you to select different criteria and specific states. www.adp.com

I) It will be worth your while to read Jack Chapman's excellent book on (What is the subject?), "How to Make $1000 a Minute". Jack is a nationally-known career advisor and speaker on career development.

J) Lastly, here are six sites that are also helpful:
www.homefair.com/
www.bestplaces.net/cost-of-living/
www.suburbancomputer.com/tips_calculator.php
www.gijobs.com/sign-up/?redirect_to=/military-pay-calculator/
www.Payscale.com
www.banknote.com
www.paycheckcity.com

If you have comments or feedback about any article, please email your thoughts to info@acp-advisornet.org.

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