Walmart boosts store manager base pay, changes bonus pay

Walmart store managers earned an average base pay of $117,000 in 2023, and that is increasing to $128,000 this year, the retail giant said Thursday (Jan. 18). The increase not include bonus pay which is typically more than the base salary.

Store manager pay is comprised of base salary and bonus pay and Walmart said the pay bump in average salary will take effect in February. The annual bonus calculation is also being revamped to pay out 200% of the base salary if all the sales targets are hit during the year.

Cedric Clark, head of store operations for Walmart U.S., made the announcement to store managers this week.

“The number one driver of job satisfaction is an associate’s manager, and we believe that you, our frontline leaders, are the best in retail. Not only are you responsible for exceeding customer expectations day in and day out; each of you is the CEO of a multimillion-dollar business. And you’re the driving force behind the development of our next generation of leaders,” Clark noted.

Walmart said an investment in store managers is an investment in the company culture and in the day-to-day experience of every employee in each store. As of Oct. 1, 2023, the company had at least 4,717 U.S. stores.

Clark, like Walmart U.S. CEO John Furner and other execs at Walmart, logged time as store managers earlier in their career. Furner and Walmart CEO Doug McMillon began as hourly employees in stores. That is the case for 75% of Walmart’s field management, according to the retailer.

“I was able to grow my career because people invested in me. I know firsthand that the possibilities are endless when working at Walmart. And the possibilities are endless for you and for everyone you lead every day,” Clark noted in the memo.