All 64 of the Walmart store managers in Washington state received great news this week from its U.S. CEO, John Furner, announcing they will receive up to $20,000 in annual stock grants on Wednesday, January 31.
This news comes on the heels of the January 18 announcement about investments in store manager pay in Washington and across the U.S. resulting in the store manager average salary increasing to $128,000/year and a newly designed bonus program which gives store managers the opportunity to earn an annual bonus that’s up to 200% of their salary.
The announcement is the latest step in Walmart’s ongoing journey of investing in their store associates – a journey that’s focused on pay raises for hourly store associates over the past several years.
Key Highlights:
- While on stage this week at Walmart’s annual Year Beginning Meeting in Houston, John Furner surprised the store managers in the audience with news that the company is now giving all store managers up to $20,000 in Walmart stock every year.
- The amount of the annual stock grant is based on store format, here’s the breakdown:
- $20,000 – Supercenter
- $15,000 – Neighborhood Market or Division 1 store
- $10,000 – Hometown store
- Walmart store manager total pay now includes:
- $128,000 average salary
- Yearly bonus that’s up to 200% of their salary
- Yearly Walmart stock grant up to $20,000
Last week, the company announced a redesigned bonus program which gives store managers the opportunity to earn an annual bonus that’s up to 200% of their base salary. Starting in February, Walmart store manager’s base salary (before bonus) will increase to $128,000/year.
Author: Lynnwood Times Staff
