ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Walmart Store Managers Can Now Earn $400,000 Annually Without Having a College Degree

US Walmart CEO John Furner announced the opportunity in a recent LinkedIn video.
PUBLISHED JAN 31, 2024
Cover Image Source: A worker collects shopping carts from the parking lot of a Walmart store | Getty Images | Photo by Scott Olson
Cover Image Source: A worker collects shopping carts from the parking lot of a Walmart store | Getty Images | Photo by Scott Olson

Walmart stands out as the preferred supermarket for Americans, not only for its budget-friendly products but also for its inclusive treatment of employees, captivating both shoppers and job seekers. Beyond the iconic blue vest and expansive stores, Walmart has established itself as a top-tier workplace, offering financial incentives and fostering a positive work environment for all staff, from sales representatives to managers. The company exemplifies equal opportunity for advancement, with individuals who started in lower positions now thriving as store managers. Investing in the future, the company provides digital skills education through various programs and tools, ensuring its workforce remains competitive in the ever-evolving retail landscape.

Customers shop at a Walmart store on May 18, 2023 in Chicago, Illinois. Walmart, the world's largest retailer, today reported first-quarter same-store sales growth that beat expectations and the company raised its full-year forecast.|Getty Images|Photo by Scott Olson
Image Source: Customers shop at a Walmart store | Getty Images | Photo by Scott Olson

Climbing the Corporate Ladder at Walmart Made Easy

Walmart aims to be inclusive, opening its doors to passionate individuals by eliminating the requirement for a college degree and announcing a pay raise for managers. Approximately three out of four current managers began their careers at Walmart as hourly workers, with the journey to becoming a store manager typically taking around five years. In a bid to strengthen its workforce, the company is offering store manager opportunities even to college graduates. The recent pay increase for managers, ranging from $14 to $19 per hour, highlights a significant wage gap between low-level store workers and managerial positions.

A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. They currently earn between $12 and $18 an hour.|Getty Images|Photo by Joe Raedle
Image Source: A worker stocks the shelves at a Walmart store | Getty Images | Photo by Joe Raedle

Stock Grant Perks at Walmart

In a recent LinkedIn video, US Walmart CEO John Furner revealed a groundbreaking initiative, announcing that Supercenter managers will now have the chance to earn $400,000 annually. Walmart plans to grant $20,000 in stocks each year to these managers, fostering a sense of ownership in their roles. The move not only provides enticing incentives but also encourages the managers to take their responsibilities seriously.

Starting in April, the stock grants for Supercenter managers will be an added benefit, complementing the recent average pay raise. Changes in the company's payscales involve an increase in the average base pay for managers to $128,000, marking a 9% rise from the $117,000 in 2023. Furthermore, managers can earn extra income through bonuses, potentially reaching 200% of their base pay based on performance and store sales, amounting to an additional $256,000 annually.

John Furner, CEO of Sam's Club speaks during the annual Walmart shareholders meeting event on June 1, 2018 in Fayetteville, Arkansas. The shareholders week brings thousands of shareholders and associates from around the world to meet at the company's global headquarters.|Getty Images|Photo by Rick T. Wilking
Image Source: John Furner speaks during the annual Walmart shareholders meeting event | Getty Images | Photo by Rick T. Wilking

When combining the higher base pay and stock grants, managers have the potential to earn $404,000 per year, presenting an attractive income for the role. Furner highlighted the lack of such opportunities when he and others pursued their careers, emphasizing the desire for everyone to experience growth amidst increased competition and a fast-paced lifestyle. With approximately 4,600 stores in the United States and around 600 Sam's Clubs, Walmart also announced stock grants for smaller stores, with Hometown store managers receiving $10,000 and other smaller stores receiving $15,000.

RELATED TOPICS WALMART
MORE ON MARKET REALIST
Several consumers have reportedly been affected by the bacteria and 21 have been hospitalized with severe complications.
13 hours ago
Mr. Wonderful asked for a ridiculous part of the business at first before changing his offer.
15 hours ago
Chum Lee had the cuffs on in front of a customer as Rick Harrison walked out of the store.
18 hours ago
Other similar incidents have also been reported regarding food from big ticket retailers.
1 day ago
“Can I look that way?” Cheryl requested if she could close her eyes before the big reveal.
1 day ago
She claimed that her uncle used to accompany Monroe on the piano and even drove her once.
1 day ago
The two did not agree on a deal the first time over $50, but things worked out in the end.
2 days ago
The item belonged to the guest's grandmother who wore it at her own and her son's weddings.
2 days ago
The founder revealed how they ran out of inventory that was supposed to last for a whole summer.
2 days ago
"Everybody wants them, and that's what drives the value up on these two games," an expert weight in on the possibilites.
2 days ago
“I won the jackpot!” Frasca exclaimed before the buzzer could time him out, concluding the game with a dream win.
3 days ago
The lamp originally belonged to the guest's godfather who cared deeply about him and his wife.
3 days ago
The guests who had very little idea about the instrument weren't expecting to get a 2333x return.
3 days ago
The contestant got it wrong in his first guess but then fixed it just in time.
3 days ago
Jennings confessed his ignorance to a contestant who shared the same on Reddit.
4 days ago
Jennings would be following in the footsteps of Bob Barker, who appeared in the film's first edition.
4 days ago
Despite his love for the book, Harrison negotiated hard to bag a good deal.
5 days ago
The contestant won a trip to Bora Bora on Showcase, a good place for a honeymoon.
5 days ago
The player was so hung up on the word that she almost said a bad word.
5 days ago
The item she had brought to the shop was a signed picture of former US President Benjamin Harrison.
5 days ago