On Monday, Walmart announced that its store managers can now make up to $400,000 a year. This was said along with the company stating that it will give $20,000 in stock grants annually to Supercenter managers.
Starting in September, the Supercenter managers will be provided with the $20,000 annually. This moves comes as the average base pay of managers increased from $117,000 to $128,000 in 2023.
Managers can make up to 200% of their base pay as annual bonuses. This is based upon the sales and profits at their store, or a yearly additional amount of $256,000. Thus, with the higher earnings and stock grants, managers can earn up to $400,000 each year.
Walmart has noted that they are making a way for any employee to have a lucrative career within the company. They added that a college degree isn’t necessary to become a manager, and 3 out of 4 managers in their company began as hourly workers.
Walmart says that it generally takes about 5 years to go from an entry-level position to management.
They also said that managers of other stores will get smaller stock grants, about $15,000 a year. To add, hometown store managers will get $10,000 each year.
