Some Walmart managers earn more than $600,000
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Some Walmart managers receive a raise, bringing their total compensation, including stock grants and bonuses, to more than $600,000.
The nation's largest private employer is raising the salary range for market managers, who oversee store managers at about a dozen locations, from $130,000 to $260,000 to $160,000 to $260,000. However, Walmart said most of its 440 U.S. market managers already fall within the new salary range.
The company is also increasing the annual stock grant from $75,000 to $100,000 and increasing bonus potential to 100% of salary. This is more than 90%.
In total, that's about $620,000.
WALMART CHANGES COSTS, PAYMENT STRUCTURE FOR CORPORATE GIFTS
“Walmart is increasing the base salary, bonus opportunity and annual stock awards for our Market Managers,” Walmart said, adding that the role is “fundamental to our business and serving our customers as they shop.”
An employee stacks shopping carts at Walmart on July 22, 2020 in Burbank, California. (ROBYN BECK/AFP via Getty Images) / Getty Images)
The changes will come into effect at the start of the 2026 financial year, meaning the 100% bonus potential will be reflected in their March 2025 payment. Employees will receive a $100,000 stock grant in April 2025, according to Walmart.
It's the latest in a series of investments the company has made in hourly and salaried roles since 2015. It also comes on the heels of significant increases in wages and salaries. strong retail sales growth In December, US employers hired more workers in a generally tight labor market.
| Ticker | Security | End | To change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 93.81 | +0.58 |
+0.62% |
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Earlier this week, the company announced that store managers in the United States will receive a salary increase in February.
It's the latest in a series of investments the company has made in hourly and salaried roles that began in 2015. (Patrick T. Fallon/Bloomberg via Getty Images/Getty Images)
According to the retail giant, starting February 1, the current average salary for store managers will increase from $117,000 to $128,000. Additionally, annual bonuses can be as high as 200% of base salary if managers meet certain goals and profit metrics.
The company also launched a new bonus program for the store's hourly employees.
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Starting February 1, the current average salary of store managers, which is $117,000, will be increased to $128,000. (Michael Ciaglo/Getty Images/Getty Images)
Walmart's minimum wage company-wide is $14 per hour, although starting pay can be as high as $19 per hour depending on store location.
FOX Business' Chris Pandolfo contributed to this report.
