Walmart is the largest major retailer in the United States with over 4,700 stores across the country. According to the Bureau of Labor Statistics the average employee in a general merchandise retailer is approximately $13.00 an hour.
Compensation is one of the most important factors when searching for a job.
If you are looking for work in the retail space, you are probably wondering how well Walmart pays compares to its competitors. Be sure to read this article to learn all you need to know.
How Much Do Walmart Workers Make?
The average Walmart employee makes an average hourly salary of $16.40 per hour or $32,175 per year. The minimum wage across the company is $12 per hour or $23,400 annually. Meanwhile, management at Walmart stores is salaried, making between $55,000-$101,000 a year.
As with any company, a worker’s wages will depend on years of service, type of job, and location. Most hourly positions at Walmart stores pay less than $20 per hour, but store managers have opportunities for salaried positions that can exceed $100,000 per year.
What’s more, managers are eligible for substantial cash bonuses and other incentives. Bonuses start at $5,000 and other incentives include stocks and profit-sharing.
Read ahead for more insight into high pay can vary from position to position.
What Does Walmart Pay by Position?
There are a variety of different roles within a Walmart store. Depending on the job that one is hired for, can have a huge impact on their overall compensation. Part-time employees are paid hourly starting at $12.00 per hour, while management is paid a yearly salary that typically exceeds $50,000.
The table below shows the most common compensation packages for Walmart store employees.
Average Annual Income (assuming 40 hours per week) Walmart Employees
|Job Title||Type of Wages||Average Yearly Wages||Average Yearly Bonuses|
Based on this data, we can see that salaries can range significantly by position and even vary based on which shift they pick up.
A large component of many of Walmart employee’s compensation packages is an incentive-based bonus which we will discuss in even more detail later in the article, so be sure to read on.
After looking at these positions, you may be wondering what the highest paying job at Walmart is – the next section has you covered.
What is Walmart’s Highest Paying Position?
At its retail stores, Walmart’s highest-paid employee will be a store manager, who can make well over $185,000 per year after salary, bonus, and other factors like stocks. At the corporate level, leadership positions like CEO and President can make over $300,000 per year on salary alone.
According to Glassdoor.com, Walmart Store Managers are paid a base salary of $101,768 per year and a yearly bonus that averages around $85,000 and can exceed $100,00 per year.
In addition, managers are given the stock that is at $13k and is eligible for profit-sharing which pays out $10,000 on average.
At the corporate level, most executives make over $200,000 per year. In 2018, it was reported that the Walmart CEO earned $22.8 million in total compensation, including a salary of $1.3 million.
Aside from position, one major factor towards compensation tends to be location, so read the next part which looks at how compensation may vary from state to state.
How Does Walmart’s Pay Varys by State?
Regardless of the company, wages tend to vary greatly from state to state, because the cost of living can vary if you are in a big city in the Northeast or a rural village in the Midwest.
Likewise, Walmart’s compensation tends to vary from state to state. This section covers the differences in pay in a few example states.
This table shows the average hourly wages at Walmart by state, with the state’s minimum wage for comparison.
Average Hourly Wages by State
|State||Hourly Wage||Minimum Wage by State|
Overall, we see that wages don’t vary as much as expected across states. Generally, Walmart employees are paid more than minimum wage making it a great entry-level position for students and retired seniors.
Read ahead to learn more about Walmart’s compensation structure.
Does Walmart Pay Weekly or Biweekly?
All Walmart employees are paid on a biweekly basis. Many companies across the United States follow this standard of biweekly payment to cut on payroll overhead and cut down on overall errors in payroll.
Another important part of compensation is bonus eligibility, so read on if you are wondering about Walmart’s bonus system.
Do Walmart Employees Get a Bonus?
Walmart recently announced that store employees will no longer be paid quarterly bonuses amidst overall wage increases across the company. Still, store managers and corporate employees are eligible for large bonuses that can be a large component of overall compensation.
While most hourly employees will no longer receive their quarterly bonus, store managers are still eligible for bonuses. Some managers report bonuses that are over $80,000!
Bonuses are a great way to reward employees for their contribution to a company’s success. However, it is not the only way to compensate employees for their hard work.
In addition to bonuses and wages, Walmart employees are eligible for many different benefits. The next section analyzes this package.
What Benefits Do Walmart Employees Get?
Walmart offers all their employees benefits which include health insurance, 401ks and 100% of tuition for students. In fact, benefits are one of the largest components of Walmart’s competitive compensation package. Below is a list of some of the best benefits available for Walmart employees.
- Education Benefits: Walmart covers $100% of tuition and books payments for students. Walmart also helps employees with GED, language training and more.
- Health Insurance: All full-time and part-time associates have health, dental, and eye care covered.
- Retirement Benefits: Associates can contribute to a 401k, with a 6% match after 1 year on the job.
- Discounts: Discounts at Walmart stores, plus discounts on travel, cell phone services and more.
- Parental Benefits: Mothers can receive up to 16 weeks of maternity leave with full pay and benefits. Employees can also receive financial assistance when adopting children.
How Much Do Walmart Employees Get Paid in 2022?
Walmart employees receive a competitive compensation package, with a minimum wage of $12 per hour and an average wage close to $16 nationwide. Walmart employees are also eligible to receive many benefits, and eligible managers can receive hefty bonuses.
Walmart’s compensation package is competitive, with wages that typically exceed the local minimum wage. Coupled with benefits that even part-time employees are eligible for, Walmart can be a great job depending on your education and experience.
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.