Walmart says managers can now earn $400,000 — with no college degree

Walmart said its store managers can now earn up to $400,000 annually, with the company announcing on Monday that it will give $20,000 in stock grants each year to Supercenter managers. 

“We ask our managers to own their roles and act like owners — and now, they’ll literally be owners,” said Walmart U.S. CEO John Furner in a video posted to LinkedIn. 

Managers of Walmart Supercenters will receive $20,000 annually beginning in April, Furner added. The move to provide stock  comes as the retailing giant recently boosted the average base pay for managers to $128,000, up 9% from $117,000 per year in 2023. 

On top of that, managers can earn up to 200% of their base pay as yearly bonuses, based on their stores’ sales and profits, or an additional $256,000 annually. With the higher base pay and stock grants, that means managers can earn up to $404,000 per year. 

“It’s a far more complex job today than when I managed a store,” Furner said. 

The boost to Walmart managers’ pay provides a pathway to a lucrative career to almost any worker, Walmart said. 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.

While good news for Walmart’s managers, the pay boost widens the gap between the company’s top employees and its rank-and-file workers. Walmart last year increased its U.S. employees’ starting wages to between $14 to $19 an hour, depending on location. 

Walmart stock grants

Walmart said that managers of other stores will receive smaller stock grants, with Neighborhood Markets and smaller Walmart stores receiving $15,000 annually in stock. Hometown store managers will receive $10,000 per year. 

Walmart shares have gone up 16% in the past 12 months.

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