The average store manager salary will hit $128,000 on Feb. 1, up from the current $117,000 per year. The retail giant is also redesigning the bonus program for managers to consider the store’s profit more heavily when calculating annual bonuses. Managers that hit their targets could receive up to 200% of their annual base salary.
“We’re increasing our commitment to you with an investment in store manager wages and redesigned bonus program,” wrote Cedric Clark, executive vice president of store operations of Walmart U.S., in a letter sent to store managers and posted on the company’s website. He later wrote, “Investing in you is an investment in our future.”
Mr. Clark said the current store managers are the “driving force” behind developing the next generation of leaders and passing along the company’s core values and culture. Walmart is making this investment after increasing the starting pay for employees last year.
With the pay raise, Walmart’s average hourly wave will exceed $18.
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