UNDATED (WKRC) — Walmart claims its Supercenter managers can now make up to $400,000 annually.
According to CBS, the retail giant announced that it will also offer $20,000 in stock grants annually to its Supercenter managers.
"We ask our managers to own their roles and act like owners, and now, they'll literally be owners," Walmart U.S. CEO John Furner said in a LinkedIn video.
Per the network, the move came after Walmart boosted the average base pay for managers to $128,000, which was a 9% increase from $117,000 per year in 2023. CBS reported that managers can additionally earn up to 200% of their base pay as yearly bonuses, which will be based on their stores' sales and profits, or an additional $256,000 annually. With the higher base pay and stock grants, managers can make around $404,000 annually, per the network.
"It's a far more complex job today than when I managed a store," Furner said in the video posted to LinkedIn.
A college degree isn't required to become a manager, adding that three in four people in management positions at Walmart's supply chain divisions, clubs and stores started as hourly workers, according to CBS.
It takes around five years to move from an entry-level role to management, the company said, CBS reported. Although good news for Walmart's managers, the pay boost widens the gap between the company management and its rank-and-file workers, who make around $14 to $19 per hour, depending on location.
Per CBS, Walmart managers of other stores will receive smaller stock grants. Neighborhood Markets and smaller Walmart locations will receive $15,000 annually in stock, while hometown store managers will receive $10,000, according to the network.
