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Walmart To Raise Annual Salaries for Store Managers
January 19, 2024
Walmart is set to raise the annual salaries of its store managers.
The Associated Press reported that the average base pay for store managers will increase from $117,000 to $128,000 starting on Feb. 1. This pay raise is an effort to keep qualified managers and make sure that hourly employees see that there is a path to higher pay and more responsibility.
Cedric Clark, executive vice president of store operations at Walmart U.S., sent a memo to all Walmart U.S. store managers sharing his vision for the future.
Clark claimed that to make Walmart the best place to shop, it has to be the best place to work. To accomplish that, he stated, the company is “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.”
Along with increasing base pay, Walmart plans to redesign its store manager bonus program. A store’s profit will have a bigger impact when calculating annual manager bonuses. If all production targets are hit, a manager’s bonus could be up to 200% of their base salary.
Clark wrote, “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. Investing in you is an investment in our future.”
He continued, “I’m proud Walmart is making this investment following last year’s increase in starting pay for stores. As a result of those investments in front-line hourly associates and upcoming annual increases, our U.S. average hourly wage will soon exceed $18.”
Clark noted that approximately 75% of Walmart’s field management teams began their Walmart careers in the hourly ranks. He said he did as well and understands “firsthand that the possibilities are endless when working at Walmart.”
He concluded by calling managers Walmart’s “front-line leaders” and “the best in retail.” He called each one the CEO of a “multimillion-dollar business” and the “driving force” behind the development of the store’s next generation of leaders.
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