Want to earn a six-figure income? Become a manager at Walmart
Walmart is raising the starting base pay for store managers, while updating its bonus plan that will put more of an emphasis on profits for these leaders.
The moves will be effective February 1.
The nation’s largest retailer and largest private employer said that the store managers’ starting ranges will be from $90,000 to $170,000. Previously, the ranges were from $65,00 to $170,000. That means that the average base pay for store leaders will go from $117,00 to $128,000.
Walmart’s move could help lessen the high rate of turnover in retail. According to a survey from employee screening firm Checkr, 74% of retail workers were actively searching for a job or considering doing so in 2023, CBS News reports.
While Walmart is bumping up pay for store managers, it has also recently lowered pay for certain roles within its ranks. Since July, the company has been paying one dollar less per hour to newly hired shelf stockers, delivery people and curbside delivery order preparers, the Wall Street Journal reported.
(Copyright 2024 The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)
