- Walmart said it will increase compensation for around 440 market managers starting this year.
- Top earners could see total compensation of $620,000 in salary, stock grants, and bonus pay.
- The job is one step up the ladder from store manager, a position that saw big pay bumps last year.
Walmart continues to be a place where a person can earn a hefty annual pay package — without a college degree.
The retail giant said Thursday that, starting this year, it will increase compensation for around 440 market managers, each of whom are responsible for multiple stores in a given area. Walmart has roughly 4,600 US locations.
Under the plan, top earners could see total compensation of more than $600,000 in salary, stock grant, and bonus pay, a spokesperson told BI.
While the salary floor for the job is increasing from $130,000 to $160,000, the spokesperson said the broader impact on compensation for many in the position will be the increased stock grant from $75,000 to $100,000, distributed in April.
In addition, the potential maximum bonus is increasing from 90% to 100% of base pay.
All told, a market manager earning the maximum $260,000 base salary could earn $620,000 starting this year. The Wall Street Journal first reported the news.
The job is one step up the ladder from store manager, a position that saw big pay bumps last year.
Store manager base salaries now range from $90,000 to $170,000, while the total possible bonus is 200% of base pay, and is contingent on store profitability as well as top-line sales.
That role is also eligible for a stock grant of up to $20,000, bringing the total compensation for top-earning store managers to $530,000.
Walmart is also big on hiring from within. The company says three-quarters of its salaried field management team started off in hourly roles.
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