Walmart Raises Pay for Market Managers
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Walmart Inc. is raising compensation for some managers as the big-box retailer seeks to attract and retain staff.
Market managers, who each supervise roughly a dozen store managers, are set to receive higher annual stock grants, bonuses and base pay, effective in the company’s new fiscal year.
The retailer said annual stock grants for market managers are rising to $100,000 from $75,000. They’ll also be eligible to earn an annual bonus of as much as 100% of their salary, up from 90%.
Market managers’ new pay range will be at least $160,000, up from a previous floor of $130,000. The high end of the range is $260,000. Walmart said most market managers already fall within the new range.
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Walmart ranks No. 1 on the Transport Topics Top 100 list of the largest private carriers in North America.
Higher compensation marks Walmart’s latest effort to boost pay and benefits for employees. Last year, it raised compensation for store managers, bringing their potential pay to more than $500,000. Walmart has roughly 440 market managers across the U.S.
Walmart shares have gained 73% in the past 12 months, powered by stronger-than-expected earnings and market share gains. Over the same period, the S&P 500 has increased 26%.
The Wall Street Journal earlier reported the change.
