sign-on bounus payout - page 2

Has anyone recently received one of the big sign-o bonuses? If so, do you mind sharing how much was left after taxes....percentage is fine if you don't want to share a number. I just want to plan... Read More

  1. by   The Little Greek
    Quote from PageRespiratory!
    Ouch, 6 year commitment! Still 68 grand in bonus isn't bad at all.
    That does seem like a lot of time, but my intentions are to join and retire with the Air Force. When you look at it that way, it's just extra money! Since there is no way in the world I'd ever be able to accomplish that amount of student loan payoff with my current taxable income, the deal seems even sweeter.
  2. by   bonodonnaonaroll
    What areas are considered critical need? My area is oncology-the service doesn't seem to see that as a needed speciality.
    Julie
  3. by   Miss Mab
    Quote from bonodonnaonaroll
    What areas are considered critical need? My area is oncology-the service doesn't seem to see that as a needed speciality.
    Julie

    Special Pay Incentive (SPI) "Bonus" for Selected Reserve Health Care Professionals in Critically Short Wartime Specialties program.

    Y'know, I'm honestly not sure. Above is the name of the program I accepted my commissioned under. There are a list of AFSC's that apply--I went in as a 46F3 (flight nurse) and I think I saw a few other 46 field positions as well as some allied health codes.

    My own caveat to this, do notice that it is for the Reserve component only--at least at this time. My understanding is, after a number of years now of extremely uptempo involvement, a LOT of the reserve corps health professionals have chosen to finish their service or have declared their intention to do so very soon. Thus, leaving many "critically short wartime specialties"(like the evac. squadrons, deployable MSS) full of openings.

    Some of you may or may not remember but my odessy into the Air force was a looooong one. Advance age will do that to ya! Anyway, this particular incentive program was not available during my initial application phase and didn't come into play until about 6 months ago--which I would have missed out on had I entered when I originally planned. (I think initially it was the 25000 student loan and then 5k a year for three years) Truthfully, I would've rather just skipped it and got in two years ago but oh well.

    Being an RN in California, my decision to serve, even with this respectable "bonus" will never be a cost effective choice. BUT, that's not what it's all about so i am grateful for the little extra. (Especially because I just spent more on my uniform alterations today then i did on the uniform!):spin:
  4. by   NursePamela
    I never figured out how to quote people. But regarding the switch from a california nurse to an active duty nurse; Are you saying you made more money in california than an Active Duty nurse with a 75,000$ bonus??? Does that include cost of living variance too??

    Just curious,

    Pam
  5. by   KDRUS22
    Hi everyone. I am considering joining the navy as a nurse as soon as I finish nursing school. I have another degree which I have obviously paid for. I know that the military will pay for your nursing education, but if I have previous loans do they reimburse you for that as well? It is a medical degree so it is relevant.
  6. by   Miss Mab
    Quote from NursePamela
    I never figured out how to quote people. But regarding the switch from a california nurse to an active duty nurse; Are you saying you made more money in california than an Active Duty nurse with a 75,000$ bonus??? Does that include cost of living variance too??

    Just curious,

    Pam
    I've been gone for a bit, sorry it took so long. Remember, I was speaking of reserve which can affect pay in a sneaky way which I will explain but, yes, even at active duty pay and the 25k a year bonus I would be making less than I did in even my new grad year civilian nursing.

    With apologies to LCDR Dan i need to copy his posted stats to make mine make sense:
    This is his @ O-4 rank with 10+ years:

    For 2007 Jan 1, 2008
    Base Pay - $5602.80 Base Pay - $5798.70
    Housing - $2470 Housing - $2470
    Food - $192.74 Food - $192.90
    Total - $8265.54/ month Total - $8461.44/ month
    Per Year - $99,186.48 Per Year - $101,537.28

    Time in and rank has it's privileges

    Me, as an O-2(which after bouncing between O-1 and O-3 finally went in as O-2 with a tiny bit of time credit toward promotion)if I were ACTIVE and starting now I'd make at the most during my third year:

    Base pay--4169.40
    Housing---1814
    Food---192.90

    6176.30/ month---74,115/year. Add on that 25 k----99, 115 ---no that is not as much as I make now or made as a new grad nurse. Nor will i be making even that much until my third and possibly final active drilling year. (I can assume civilian pay would increase COLA at least same as military so let's assume all things equal)

    You can argue that eventually it would surpass CA civilian pay and it might but I wasn't arguing who made more, just pointing out that although an extra 75k is nice and I'm not turning it down, it does not financially benefit me to serve IN GENERAL. Yes, there are tax advantages, etc. However, on the reserve side, it is very rare to get full BAH--or housing--when you are activated for schools and deployments less than 30 days which my unit often does. Always seems to be multiple trips of 28 days..hmmm. That might be because at those lengths you get something called BAH Reserve/transient which pays again by rank and dependent status but doesn't take into account where you live. It is only 535 dollars a month whether I live in Iowa or here in $$$$CA.

    Again, money should always be a factor in decision making but doesn't need to be the factor. I've always admitted that I probably wouldn't still work as an RN in the "real world" except the $$ in CA is good. Otherwise, the stress and drama ain't worth it.

    My fifty cents....


    Oops. forgot the offical COLA payment which for O-3 is 192/month. 2304 + 99115--101,419. Nope--still doesn't.
    Last edit by Miss Mab on Nov 5, '07
  7. by   NursePamela
    WOW! Can I ask just how much CA nurses make?? Where is CA?

    Dont forget in the military your food and housing is not taxed - that makes a difference - doesn't it?

    I know it's not all about finances but money does help pay the bills.

    Pam
  8. by   jfmfdny
    Hey all,

    On a related subject, I am completing my packet for the Army Nursing Corps Reserves and was wondering if anyone has taken advantage of the Healthcare Professional Loan Repayment Program. (20k, 20k, 10k over 3 years...)?

    Is that taxed before they write the check to my creditor, or is it 20k tax free?

    Thanks
  9. by   Gennaver
    Quote from Miss Mab
    It is, in fact, true. I am USAFR RN signed into a "critical need" specialty. It is 25k for each of three years, payable on each DOR anniversary provided I have a "good" year each of those years. (meaning you show up and do your job)

    Sheesh, no one believed me when I told them my first year RN salary even though I was in SF, too. Oh well. W-2's and contract available to anyone curious. Better yet, contact an Air Force Reserve healthcare recruiter. I know mine would love to hear from ya.

    Why, what did you get offered and for what?
    Hello,
    I'm glad to know that now Army nurses can get this too, Incentive Specialty pay, (ISP) up to 20K a year. It is nice. I do not have it...yet, but, I am only begining my initial service obligation.
    Gen
  10. by   Miss Mab
    Yes Gennaver, I wasn't aware of that re. the Army SPI but that is good news!! Spread the wealth I say

    The only part that bothers me--about this thread and bonuses in general----is that i REALLY hope no one would be swayed to make such a life altering service commitment primarily motivated by that.

    I don't have knowledge of anyone who has, I guess i just want to caution the 'still decider's' that, like always, $$$ can and should be a motivation but please don't let it ever be the only one.

    I have some misgivings about my open-ness here but know it comes from an effort to help others with as much info as I can give. I'm an honest one--if any RN interested in USAFR has a question and I can answer it I will do my best to try. Good, bad or ugly--within limits I suppose, but you'll get my drift I promise. BTW, the majority of the info folks seek is available on each of the service component's websites.

    Anyway, best to all...these are decisions worth researching to the best of our abilities.

    Mab
  11. by   eltrip
    I've been speaking w/ an AF reserve recruiter this week. They're offering 45,000 as a sign-on bonus for one of their critical-need areas.
  12. by   The Little Greek
    Quote from jfmfdny
    Hey all,

    On a related subject, I am completing my packet for the Army Nursing Corps Reserves and was wondering if anyone has taken advantage of the Healthcare Professional Loan Repayment Program. (20k, 20k, 10k over 3 years...)?

    Is that taxed before they write the check to my creditor, or is it 20k tax free?

    Thanks
    That's a really good question. I'm applying for loan repayment upon entry and I'd love to know the answer too. I'm also wondering, does the gov't just make the monthly payments, or do they simply write a check to the loan company and pay the loan outright? I had a friend at school that entered the navy after graduation and she said they would pay the loan outright and that it wasn't taxed. Not sure if that's true though...

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