Certain Walmart managers are getting a pay bump, pushing their total compensation, including stock grants and bonuses, to well over $600,000.
The nation’s largest private employer is raising the salary range for its market managers, who supervise store managers in about a dozen locations, from $130,000–$260,000 to $160,000–$260,000. However, Walmart said that the majority of the 440 market managers across the U.S. already fall within the new pay range.
The company is also raising its annual stock grant from $75,000 to $100,000 and increasing its bonus potential to up to 100% of their salary. That's up from 90%.
Altogether, that totals around $620,000.
WALMART CHANGING TITLES, PAY STRUCTURE FOR CORPORATE STAFF
"Walmart is increasing base pay, bonus opportunity and annual stock awards for our Market Managers," Walmart said in a statement, adding that the role is "key for our business and for serving our customers however they shop."
The changes will take effect at the start of fiscal year 2026, which means the 100% bonus potential will be reflected in their March 2025 payout. Employees will also get the $100,000 stock grant in April 2025, according to Walmart.
This marks the latest in a series of investments the company has made in its hourly and salaried roles that began in 2015. It also comes after a solid rise in wages and strong retail sales growth in December, as U.S. employers hired more workers in a generally tight labor market.
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Earlier this week, the company announced that U.S. store managers would get a raise in February.
Beginning on Feb. 1, the current average salary for store managers of $117,000 will be raised to $128,000, the retail giant said. Additionally, the annual bonus could be as high as 200% of base salary, if managers meet certain targets and profit metrics.
The company also launched a new bonus program for store hourly associates.
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Walmart’s minimum wage across the company is $14 an hour, although starting pay can be as high as $19 an hour depending on the store location.
FOX Business Chris Pandolfo contributed to this report.
