By David Baumann and Michael Teitelbaum, CQ Staff

These are tough financial times, and they’re out looking for new jobs. But unlike most Americans, these two candidates are competing for a big raise.

The two presidential nominees — Democrat Barack Obama and Republican John McCain — both make $169,300 as U.S. senators. But one of them is about to get a substantial bump in pay to $400,000, the current salary for president of the United States.

Obama’s vice presidential running mate, Sen. Joseph R. Biden Jr. of Delaware, or McCain’s partner, Sarah Palin , can also expect a nice raise. The salary for vice president is currently $221,100, meaning Biden would receive a pay increase of $51,800 from his current Senate salary if the Democrats are elected.

If the Republican team wins, Palin will do even better. She currently makes about $122,000 as governor of Alaska.

Of course, there are many other benefits that go along with those raises. The president and vice president — and their immediate families — get free housing and transportation as well.