How much can you make working at Walmart? It turns out, quite a bit if you’re a Superstore manager and you’re good at your job. Walmart has raised the annual pay and bonuses of its best Superstore managers to $400,000. That’s a job that doesn’t require a college degree. Mike Rowe would be pleased. Sarah Nassauer of The Wall Street Journal reports:
Amazon is cutting hundreds of jobs. So are Macy’s and Wayfair. But one retail worker is still in high demand: Walmart superstore manager.Walmart is giving bigger bonuses and adding stock awards to their annual pay packages, pushing the total compensation for the best ones to more than $400,000 a year.
The retail giant has thousands of store managers who act as midlevel executives. Each can often oversee a store with 350 workers and $100 million in annual revenue. Many start as clerks and climb the ranks without college degrees.
Store managers will now be able to earn up to $20,000 in annual stock grants and an up-to-200% bonus each year. The average base salary for a Walmart store manager is around $128,000.
That means a successful manager of a large Walmart store can earn up to $404,000 a year in total compensation. A Walmart spokeswoman declined to share how many managers generally receive their full bonus each year.
The job has become more complex in recent years, said John Furner, Walmart U.S. chief executive. Store managers are now evaluated on and responsible for e-commerce orders sourced from their stores, said Furner, who once worked as a Walmart store manager.
For store managers, the addition of an automatic stock grant, “makes it easier for them to think and act like owners because they are,” said Furner.
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