Good luck, here's some info to get you started.

First, pay: here's a link to the 2010 officer pay chart
2010 Military Basic Pay Charts
You will start out as a 2LT, with is an "O-1" pay grade. With less than 2 years in service, you'll earn 2745/month in basic pay.

In addition to basic pay, you will also earn a nontaxable "Basic Allowance for Subsistence (BAS)" which is nontaxable and currently it's about $220/month. On a side note, anything with the word "pay" in its title is taxable income, anything without the word "pay" is not taxable.

Another huge nontaxable source of income is Basic Allowance for Housing (BAH). BAH rates depend on where you live and whether or not you're married. Here's a link: 2010 Basic Allowance for Housing Rates - Military Benefits - Military.com. BAS in Enid OK (a pilot training base) is currently $925/month.

Flight pay would also start when you attend pilot training. I think it starts out at $125/month, but eventually it goes up about 5-6 times that much depending on how many years of service.

So starting 2LT pay is about 4K/month, and only about 3K of that is taxed. You also do NOT pay for any retirement or medical insurance, which will easily save you $500/month.

You would be promoted to 1LT (O-2) after 2 years, Capt (O-3) after 4 years, and Major (O-4) is typically around 9-10 years, assuming active duty. Reserves is about the same but maybe a little slower.

For your reserve pay - if you are on extended active duty orders (such as the year of pilot training and several months of follow on C-130/C-5/etc training), you'd be getting the same pay as active duty guys. However, if you are not on orders, you generally get 1/30 of equivalent active duty pay for every day that you work. Reserve pay is way more complicated than that, but for this point in your life, just plan on 1/30 for each day you work. Most traditional reservists work about 5-7 days per month, some work way more, some work way less.

So how do you start? Search this forum, and also Baseops.Net Flight Planning and Aviation Weather. Your first step is talking to an officer recruiter.

Good luck,
Riddler