Do Walmart managers earn up to $400,000 annually without requiring a college degree?
Walmart did announce an initiative offering stock grants to high-performing managers, allowing them to earn up to $20,000 worth of stock grants starting in April 2023. This opportunity is available to Walmart Supercenter managers, with the amount of the stock grant rewards being based on the store formats where the managers are employed.
In addition to the stock grants, Walmart also announced a new average annual salary of $128,000 for its managers. Combined with the ability to earn up to 200 percent of that salary in bonuses, a Walmart manager could potentially earn as much as $404,000 a year, CNBC reported.
“A Walmart store manager is running a multimillion-dollar business and managing hundreds of people, and it’s a far more complex job today than when I managed a store,” Walmart U.S. President and CEO Brian Furner said in a video posted in late January on LinkedIn. He explained the amount of the stock grant rewards would be based on the store formats where the managers are employed. Walmart Supercenter managers are eligible to receive the $20,000 limit.
He added, “And we ask our managers to own their roles and act like owners. And now, they’ll literally be owners.”
A Walmart spokesperson told NBC News there are about 4,600 Walmart stores, including more than 3,500 Supercenters.
According to the retail giant, about 75 percent of its managers started out as hourly workers, suggesting that many of the early managers never went to college, Forbes reported.
Walmart manager, Walmart Careers website, https://careers.walmart.com//