For a young person just finishing high school, unsure about what he (or she) wants to do in life, the military offers glory, adventure, and the chance to serve one’s country. It also promises more tangible rewards: a steady job, money for college, the potential for career advancement. Military recruiters and advertisements rely on images of heroism and duty, but they also tout the practical benefits of service. The question is, do these promises pan out?
A new study from RAND finds that there are long-term career benefits to joining the military. Individuals who enlist see a short-term jump in earnings of about 40% and a longer-term income boost of about 10%, compared to what they would be expected to earn if they didn’t enlist. The long-term boost is mostly among people who stay in the military, suggesting that military service may not help you find a better-paying job outside the armed forces but can pay better than the private sector if you stick with it. (This analysis doesn’t even factor in the free healthcare and other valuable benefits veterans receive.)
Interestingly, military service has a limited impact on the likelihood of completing college. Funding for postsecondary education has been a big enticement to potential soldiers since the G.I. Bill passed over 60 years ago. The RAND study finds, however, that those who serve are slightly more likely to complete a two-year college degree but slightly less likely to complete a four-year degree than those who don’t enlist.