Current:Home > MarketsHere's how much Walmart store managers will earn this year -Infinite Edge Learning
Here's how much Walmart store managers will earn this year
View
Date:2025-04-13 05:22:36
Some people go into fields like medicine or engineering in hopes of earning top dollar. But there's another way to earn six figures: become a store manager at Walmart.
The world's largest retailer announced this week that it is raising managers annual salary to $128,000, up 9% from $117,000 per year in 2023. Managers can also earn up to 200% of their pay as yearly bonuses, based on their stores' profits and sales, according to the retailer. The company will offer the enhanced compensation package to managers across its U.S. stores starting on February 1.
Walmart's move to sweeten managers' pay could help counter the high rate of turnover in retail. According to a survey from employee screening firm Checkr, 74% of retail workers were actively searching for a job or considering doing so in 2023.
While Walmart is bumping up pay for store managers, it has also recently lowered pay for certain roles within its ranks. Since July, the company has been paying one dollar less per hour to newly hired shelf stockers, delivery people and curbside delivery order preparers, the Wall Street Journal reported.
Walmart did not immediately reply to CBS MoneyWatch's request for comment.
By contrast, Walmart last year increased its U.S. employees' starting wages to between $14 and $19 an hour, depending on a store's location. The current federal minimum has been stuck at $7.25 an hour since 2009, though many states and cities have sharply increased hourly pay in recent years.
Higher minimum wages took effect in 22 states this year, while workers in 20 states remain subject to the federal baseline pay.
- In:
- Minimum Wage
- Walmart
Elizabeth Napolitano is a freelance reporter at CBS MoneyWatch, where she covers business and technology news. She also writes for CoinDesk. Before joining CBS, she interned at NBC News' BizTech Unit and worked on The Associated Press' web scraping team.
veryGood! (47154)
Related
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Wendy Williams spotted for the first time since revealing aphasia, dementia diagnoses
- US Open favorite Alcaraz crashes out after a shocking straight-sets loss
- Lupita Nyong'o honors Chadwick Boseman on 4-year anniversary of his death: 'Grief never ends'
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- Bill Belichick's packed ESPN schedule includes Manningcast, Pat McAfee Show appearances
- US economic growth for last quarter is revised up to a solid 3% annual rate
- Zappos Labor Day 60% Off Sale: Insane Deals Start at $10 Plus $48 Uggs, $31 Crocs & $60 On Cloud Sneakers
- The Super Bowl could end in a 'three
- Justice Department watchdog finds flaws in FBI’s reporting of sex crimes against children
Ranking
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Nikki Glaser set to host 2025 Golden Globes, jokes it might 'get me canceled'
- Average rate on a 30-year mortgage eases to 6.35%, its lowest level in more than a year
- Steph Curry re-ups with Warriors, agreeing to one-year extension worth $62.58 million
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- Kelly Osbourne's Boyfriend Sid Wilson Says His Face Is Basically Melted After Explosion
- Cowboys to sign running back Dalvin Cook to one-year contract, per reports
- 'Incredibly dangerous men': These Yankees are a spectacle for fans to cherish
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Baltimore ‘baby bonus’ won’t appear on ballots after court rules it unconstitutional
Postmaster general is confident about ability to process mail-in ballots
Nordstrom Rack Clear the Rack Sale: $9 Heels, $11 Shorts + Up to 94% Off Marc Jacobs, Draper James & More
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Jewish family can have anti-hate yard signs after neighbor used slur, court says
Travis Kelce Professing His Love for Taylor Swift Proves He’s Down Bad
College football season predictions: Picks for who makes playoff, wins title and more