Matt Carberry (kingpin248) wrote,
Matt Carberry

Big Navy pulls away the feeding trough...

About a month ago, I wrote about the Navy giving out substantial re-enlistment bonuses for a three-month period. After that period, the levels would be dropped to at or below their previous values. I expected the multiples to be at those old levels, but not more than one point below. Today, the multiples effective 2009-05-11 were released by Navy Personnel Command. And to quote directly from the NPC statement,
Navy is seeing the highest reenlistment rates in a decade and is projecting to meet most required reenlistment needs for Sailors with critical skills this fiscal year (FY).
Gone are the $90,000 caps for nuclear ratings. Gone are the double-digit multiples. In fact, for RC, RL, and M submariner-types, the number is down to 6.5 - the lowest value since 2005, and drastically lower than prior to last month. (The electricians' multiple drops back to its previous level of 5.0.) Let me put this in more easily understandable terms, using my current base pay. At that amount and the current multiple, I could reach the current ($90k) cap by obligating 3.21 additional years. After 11 May, I would need to tack on 4.94 more years to cap out (at only $75k).

It could be argued that this is a result of a need to reshuffle money around to support the $787,000,000,000 stimulus package. I don't think so - we're in an era were the government thinks it can print money with impunity. I think that the stated reason is in fact the cause. The big bucks on offer, combined with the tanking economy, are undoubtedly helping retention. In contrast to myself, there are many out there who don't have both an unending frustration with their job and a substantial cash position to fall back on. I also believe the Navy is trying to push the re-enlistment numbers even higher by creating a bubble in these next couple of months. I expect NPC to see a flood of re-enlistment requests in the near future - I'm talking about a rush like the Running of the Brides, the mass sales on bridal dresses at Filene's Basement. And just as I would sit back and watch that spectacle, so too shall I gaze from on high, turning away on occasion to glance at the large number (presently "68") in front of me.
Tags: money, navy hate

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