Target is one of the largest and most popular retailers in the United States. Across the country, the average hourly wage for retail workers is just over $13.00. With Targets almost everywhere across the United States, it may be a great place to work.
If you are looking for a job, how much a company pays is without a doubt the biggest factor, so you may be wondering how much does Target pay? This article breaks down the compensation for some of the most held roles at Target stores across the nation.
How Much Does Target Pay in 2023?
Target has a company-wide minimum wage of $15.00 per hour which comes out to about $31,200 annually. Most staff members at Target do make about $15.00 per hour, while managers and team leads can make $18 per hour or more.
With a company-wide minimum wage of $15.00, Target compensates its employees more than other retail workers across the United States. For example, Walmart’s minimum wage is currently set at $12.00 per hour nationwide.
Meanwhile, being the manager of a Target Store is a lucrative career where base salaries can exceed $200,000 per year on top of performance incentives.
In the next section, we break down the wages of the most common positions at Target, so be sure to keep reading.
How Much Does Target Pay by Position?
In any company, wages will differ from role to role. Depending on the role you have within the Target team, your wages can vary both in terms of overall earnings as well as pay structure.
For example, team members tend to get paid on an hourly basis, at a rate that is close to the company minimum wage. Meanwhile, management can earn annual salaries that exceed the median US income.
The table below shows common roles in a Target store and their annual income.
Average Full Time Income for Target Employees
|Job Title||Types of Wages||Average Yearly (40hr/week)||Average Yearly Bonus|
|Food and Beverage Manager||Annual Salary||$105,206||$1,500|
|Visual Merchandiser||Annual Salary||$44,535||$1,200|
|Store Director||Annual Salary||$153,617||$32,000|
Based on the above table, we see that most entry-level positions pay $15.00 per hour or about $31,200 per year. Compared with the more professional careers, where employees are compensated by salary and exceed wages of $44,000 per year.
Read on for an analysis of some of the highest-paying jobs at Target.
See Also: How Much Does Costco Pay?
What is Target’s Highest Paying Position?
In the previous section, we examined the highest paying jobs at a Target retail location. Yet the highest paying roles company-wide are at the corporate level, where executives earn large six-figure salaries; below we examine the pay of Target leaders by their role.
Executive Compensation at Target
|Job Title||Types of Wages||Average Yearly Wages||Average Yearly Bonus|
|Chief Executive Officer (CEO)||Annual Salary||$1.4 million||$1.12 million|
|Senior Director of Procurement||Annual Salary||$265,000||$39,000|
|Vice President||Annual Salary||$245,611||$69,000|
Executives at Target make extremely large salaries and yearly bonuses. In addition, many executives receive additional compensation by way of stock options and equity.
For example, according to Fox Business, the CEO of Target actually received $77.5 million dollars in total compensation when accounting for equity, stock, salary, and bonus. By this measure, the CEO earns over 800x as much as the average Target employee.
Read on to the next section to see how pay may differ from state to state.
How Much Does Target Pay Vary by State?
Compensation tends to vary depending on the cost of living in the area that a store is located. Generally, in a high cost of living area like the Northeast or California, pay tends to be higher. However, when examining Target’s data from Glassdoor.com, pay appears to be standard across the US.
One factor that likely contributes to the lack of variance in compensation, is the company-wide minimum wage. At $15.00 per hour, Target employees across the country and compensated well above the federal minimum wage, and even exceed states with higher minimum wages.
If you are considering a career at Target, you may also wonder how often Target employees are paid – the next section has you covered.
How Often Do Target Employees Get Paid?
Target, like many employers in the United States, pays its employees every two weeks. While some employees may prefer to be paid more frequently, biweekly pay appears to be the standard for almost all companies.
The reason biweekly pay is the standard is to reduce overhead around payroll. Even with sophisticated software, payroll needs to be completed by employees in the payroll department.
By processing pay every two weeks, the payroll team has more time to process payroll and helps reduce mistakes.
Continuing the line of compensation structure, the next section covers whether Target employees are eligible for a bonus.
Do Target Employees Receive a Bonus?
Target employees have historically received bonuses, though the frequency and scale of the bonus tend to vary on the role at the company. Executives and managers receive bonuses that are worth thousands of dollars, while hourly employees may receive other small bonuses or temporary boosts to their hourly rate.
For management and company-wide leaders, bonuses can start as low as $1,200 and exceed $1 million. Generally, senior managers receive bonuses over $30,000. Additionally, leadership positions are eligible for lucrative equity and stock bonuses.
Regular employees can also receive bonuses. Recently, Target gave a $200 bonus to all employees considering the work they did throughout the pandemic. However, this type of bonus is not a standard part of compensation but simply a one-time thank you from the corporate office.
Another important factor for compensation is the benefits that employees receive. The next section gives an overview of Target’s benefits.
What Benefits to Target Employees Get?
Target offers a comprehensive benefits package that ranges from career development, financial support, and continuing education. Below is a highlight of some of the best benefits that Target has to offer its employees.
- Health – Medical, dental and vision insurance.
- 401(k) plans
- Tuition Assistance
- 10% discount at Target
- And more!
What Does Target Pay in 2023
Target offers a comprehensive and competitive compensation package, that includes a high $15 per hour company-wide minimum wage, as well as many different employee benefits.
The company also has offered bonuses to all companies to acknowledge employee impact on company success. All in all, Target offers great pay, especially for entry-level employees who would typically make minimum wage.
Benjamin is a certified financial advisor, with over 10 years of experience in the industry. He is knowledgeable about various business and financial topics, such as retirement planning and investment management. Ben has been recognized for his work in the financial planning industry. He has also been featured in various publications.