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Walmart raises pay for store managers to $128,000, with a 200% bonus

Jan 18, 2024 - businessinsider.com
Walmart has announced plans to increase the salaries of its US store managers from an average of $117,000 to $128,000 per year, with bonuses of up to 200% of base pay. The changes, which will take effect on February 1, are part of an investment in the company's culture and future, according to Cedric Clark, head of store operations for Walmart US. The company also revealed that store managers at the lower end of the salary range will see the largest increases, with salaries jumping from $65,000 to $90,000.

The retail giant, which employs 1.6 million people in the US and operates over 4,600 retail locations, said the pay increases and previous wage hikes will soon bring its average hourly wage to over $18. The move is expected to boost the company's recruitment and retention efforts. Notably, these six-figure jobs do not require a college degree.

Key takeaways:

  • Walmart announced it will increase salaries for US store managers, raising the average from $117,000 to $128,000 a year, and offer a bonus of up to 200% base pay.
  • The changes will take effect on February 1, with store managers at the lowest end of the salary range seeing the largest increases, from $65,000 to $90,000.
  • Walmart employs 1.6 million people in the US and operates more than 4,600 retail locations. The company believes these changes will boost its recruiting and retention efforts.
  • No college degree is required for these six-figure jobs at Walmart, and the company's US average hourly wage will soon be more than $18.
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