A Navy captain, paygrade O6, is equivalent in rank to a U.S. Army, Air Force or Marine Corps colonel. Sitting just below the flag officer rank of Navy rear admiral, lower half, a Navy captain typically exercises a great deal of command and authority. In terms of total numbers of Navy commissioned officers on active duty, only a small number attain the rank of captain. Regardless of the specific military retirement system they fall under, retiring Navy captains earn good pensions. Show
Navy Captain RetirementsAt minimum, it takes 21 to 23 years of commissioned service in the Navy to be promoted to captain. Navy captains also generally can't serve past 30 years of commissioned service. Except for needs of the service, Navy captains failing to be selected for promotion to rear admiral are subsequently moved to the retired list. As of 2018, a Navy captain's projected retirement pay after 20 years would average $5,238 in year one after retirement and rise to $11,752 per month forty years after retirement. The department of defense website provides a compensation calculator to adjust assumptions based on rank at retirement and other factors. Military Retirement SystemsThe military has three non-disability retirement systems. Military personnel joining before September 1980 receive Final Pay pensions ranging from 50 to 75 percent of the base pay they were earning upon retirement. The September 8, 1980, to August 1986 High 36 military retirement system pays pensions based on the average of the highest 36 months of base pay earned. The post-August 1986 military Redux retirement system pays eligible recipients at the High 36 averaged rate or a combined career status bonus and Redux rate. Calculating Retired PayUp to 30 years of service, the military's Final Pay and High 36 retirement systems pay an additional 2.5 percent in retired pay for every year served past 20. Under all three retirement systems, though, a retiring Navy captain with 30 years of service would earn 75 percent of his base pay, or up to $8,529 monthly. Redux initially creates lower base pay earning floors up to 30 years, however, resulting in up to 10 percent less military retirement pay to start. Military Retirement BenefitsMilitary members' retirement benefits include health care and annual cost-of-living adjustments. Retired military personnel and their eligible dependents may receive medical care in on-base treatment facilities or through TRICARE, the military's health insurance program. Another part of a retired military service member's retirement compensation is the cost-of-living adjustment. Military retired pay COLA increases are tied to the government's consumer price index. Military Redux retired pay recipients receive COLA based on the CPI minus 1 percent. O-6 Senior Officer, U.S. Navy Navy Ranks » Captain Rank • CAPT Pay • CAPT Rank History • Promotion Information How much does an O-6 Captain in the Navy get paid?A Captain is a senior officer in the United States Navy at DoD paygrade O-6. A Captain receives a monthly basic pay salary starting at $7,332 per month, with raises up to $12,980 per month once they have served for over 30 years. In addition to basic pay, Captains may receive additional pay allowances for housing and food, as well as special incentive pay for hostile fire and dangerous duties. Including the most common pay allowances, the average total compensation for a Captain may range from $116,953.99 to $184,723.99 per year as of 2022.
Additional Pay & Allowances for an O-6In addition to Basic Pay, a Captain may be eligible to receive several types of allowances and incentive pay. Basic Allowance for Housing (BAH)Basic Allowance for Housing is a monthly payment meant to subsidize a servicemember's housing while deployed. The amount of BAH received each month depends on the location in which they live. The average Basic Housing Allowance for a Captain with dependants is $2,580.58, or $2,133.88 with no dependants. Basic Allowance for Subsistance (BAS)All Navy officers receive a monthly allowance for food and drink of $280.29. Officers' BAS is lower than the enlisted BAS rate, as officers generally have access to subsidized meals in the Officers' Mess. Hazard Pay / Hostile Fire PayA Captain may receive hazard pay of $250.00 / mo while serving in an active combat zone or subject to hostile fire or other hazards. Captain Pay Calculator for 2022 As this page shows, the total compensation paid to a Navy Captain is significantly more than just basic pay. This simple pay calculator can estimate the total compensation for a Captain by adding basic pay to housing allowance (BAH) and subsistance allowance (BAS), the two largest payments received by most seamen. O-6 Basic Pay with years service $87,984.00 per year Average BAH allowance (no dependants) $25,606.51 per year Average BAS allowance (officer) $3,363.48 per year Total Estimated Compensation $116,953.99 per year The Government civilian employee equivalent of a Captain is paid under the General Schedule paygrade. To learn more, see this Navy ranks to civilian General Schedule grades conversion table .How much does a retired captain in the Navy get?If you retire with 20 years of service, you'll receive 50 percent of your base pay; this goes up to 100 percent after 40 years of service.
How much is a retirement captain?Up to 30 years of service, the military's Final Pay and High 36 retirement systems pay an additional 2.5 percent in retired pay for every year served past 20. Under all three retirement systems, though, a retiring Navy captain with 30 years of service would earn 75 percent of his base pay, or up to $8,529 monthly.
How much does a retired sailor make?US Navy Salary FAQs
The average salary for a Retired is $131,058 per year in United States, which is 15% higher than the average US Navy salary of $113,036 per year for this job.
How much is US Navy retirement?Your retirement benefit is determined by your years of service. It's calculated at 2.5% times your highest 36 months of basic pay.
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How Much does a Navy captain make in retirement
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