This document presents the proceedings of the 2004 Defense Economics Conference -- Military Compensation: Informing the Debate, which was held on June 9, 2004 at the Institute for Defense Analyses in Alexandria, Virginia. The contents are as follows: Welcome, by Richard P. Burke and Stanley A. Horowitz; Keynote Address, by Bernard D. Rostker; Active Duty Compensation: Are We Getting What We Want for What We Pay? by William J. Carr, ...