With new stock grants, Walmart store manager pay could exceed $400K (2024)

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How much does the highest paid Walmart manager make? ›

The retail giant announced a new average annual salary of $128,000 this month. High-performing Walmart managers now have the ability to earn more than $400,000 a year after the retail giant announced it is offering the ability for some managers to earn $20,000 worth of stock grants starting in April.

In smaller stores, a store manager can be granted up to $10,000 to $15,000 annually. Combined with the previously announced annual average salary of $128,000 and the ability to earn up to 200% of that salary in bonuses, a Walmart manager could earn as much as $400.000 a year if running a large store.

Jan. 18, 2024, at 2:00 p.m. NEW YORK (AP) — Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders. The moves, announced Thursday, will be effective Feb.

Store managers are now also eligible for annual bonuses of up to 200% of their salary. Based on the new average salary, the highest annual bonus possible and the full $20,000 stock grant, a U.S.-based Walmart Supercenter manager could earn $404,000 — or more — annually.

Walmart managers now can make up to $400,000 a year. Walmart is further sweetening the perks for its U.S. store managers as the nation's largest retailer and private employer seeks to retain and attract top workers in a still competitive job market. Annual stock grants to managers will vary by store size.

Some of the highest wages a worker can make at Walmart are in the job titles Director Of Software Engineering ($271,000), and title Director Of Product Management ($263,037) which are the highest paying jobs at Walmart.

Starting in April, all US store managers will receive as much as $20,000 in Walmart stock every year, as the world's largest retailer seeks to attract and retain staff. The amount of stock grants will vary by store format, with those overseeing smaller outlets eligible for less, the company said Monday.

Walmart CEO Doug McMillon received $26.9 million in total compensation last fiscal year. The median compensation for Walmart employees was $27,642, per the company's annual proxy statement. Since 2009, McMillon has been paid $136 million for his work as a Walmart executive.

WALMART shoppers have praised the retailer after it's revealed that a store manager is raking in hundreds of thousands a year. The success story of Nichole Hart has many Walmart customers excited for the company, as she receives great benefits and a $240,000 salary.

Walmart lays off hundreds of employees and requires others to relocate. Shoppers exit a Walmart store, on Feb. 21, 2024, in Englewood, Colo. Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant's campus offices.

Are Walmart managers getting a raise? ›

We're simplifying and increasing store manager wages. With this investment and upcoming annual increases, the store manager average salary will go from $117,000 to $128,000 a year. Second, we're redesigning our store manager bonus program.

The Biden Administration has worked to reverse these trends, providing federal employees a 4.6 percent pay raise in 2023 and a 5.2 percent raise in 2024. Nonetheless, federal employee pay increases have failed to keep pace with rising labor and living costs.

Walmart store managers will get up to $20K in stock every year, pushing top-earners over $525K in total compensation. Walmart store managers are set to receive annual stock grants ranging from $10,000 to $20,000. The amount of the grant will depend on the size of the store, from hometown stores to Supercenters.

Position: Executive-level roles usually have higher percentages, while mid-level managers may receive 10% to 20%. Entry-level positions might not receive bonuses or get a smaller percentage. Company Performance: Companies may base bonuses on individual, team, or company performance.

No college degree needed

It noted that a college degree isn't required to become a manager, and that 3 in 4 people in management roles at its stores, clubs or supply chain divisions started as hourly workers. On average, it requires about 5 years to move from an entry-level role to management, the company added.