A captain is a commissioned officer rank in the United States Navy. This officer may be in command of some of the Navy's largest warships, such as aircraft carriers. The pay scale of a naval captain is directly in the middle among the different ranks of naval officers. Only the five ranks of commodore and admiral are above a captain in pay grade.
A captain's salary is largely dependent on his years of service in the Navy. According to the Defense and Finance Accounting Service, as of January 2011, a naval captain with less than two years experience in the rank earns a monthly salary of $4,893. This represents a 1.4 percent pay increase from the previous year. Salary increases incrementally culminating in a final monthly pay rate of $7,856.70 at more than 18 years of service.
Housing and Other Benefits
Some military benefits have a significant impact on a naval captain's salary but are not included in his monthly paycheck. According to the website for the United States Navy, every service member receives a monthly allowance for food and housing payments completely tax-free. A naval captain may also qualify for special tax incentives, such as a low-interest home loan with easier credit requirements made available through the Department of Veterans Affairs.
The Navy health care plan is also not included in a naval captain's monthly salary but is an integral benefit of serving with the armed forces. The Navy's health insurance plan provides comprehensive coverage at all Navy medical hospitals and dental facilities for all Navy service members and immediate family members. A naval captain can also receive a referral to a specialist in the event a required medical service is not available at a naval medical facility.
Untimely death is a possibility when performing duties in the service of your country. A naval captain might face these circumstances just as any other service member might over the course of a career. The Navy provides life insurance for all ranks to help compensate family members in the event of death in the line of duty. A basic $250,000 policy is available for $16 a month. A $400,000 policy is available for all Navy service members at a cost of $26 a month.