If you’re already a manager at Walmart – or would like to be – you can count on making a little more money.
Walmart said this week it will raise the average yearly salary and bonus levels for the managers in its U.S. stores, taking its average hourly wage to more than $18.
Cedric Clark, executive vice president for store operations for Walmart U.S., outlined the moves in a note sent to employees and posted to the company’s website.
“Making Walmart the best place to shop means we need to make it the best place to work,” Clark wrote. “To accomplish that, we are on a journey of investing in our associates – from offering competitive front-line pay to benefits that support associates’ health and well-being in all aspects of life.”
Pay at Walmart comes in two parts: Base pay and bonuses. In his note, Clark said the retailer was “updating both.”
- First, base pay. The store manager average salary will go from $117,000 to $128,000 a year.
- Second, bonus pay. The company is redesigning its store manager bonus program. In addition to sales, a store’s profit will play a bigger role in calculating the annual bonuses for managers. Those who hit all targets could see a bonus of as much as 200% of their base salary.
“We see an investment in you as an investment in our culture, our core values and in the day-to-day experience of every associate in every store,” Clark wrote. “Investing in you is an investment in our future. This investment is about belief. We believe in you.”
The latest development comes on the back of a solid rise in wages and a strong retail sales growth in December, Reuters reported, as U.S. employers hired more workers in a generally tight labor market. At the end of fiscal 2023, Walmart employed some 1.6 million associates in the United States.
