Office workers in Walmart corporate probably aren't loving some of the cuts and changes coming their way, including the phasing out of telecommuting, reduced pay, and a downgraded health-insurance plan. Regional managers for the big-box retailer, however, are getting an ample paycheck boost: The Wall Street Journal reports that once the changes take effect, these 450 or so middle managers around the US—often responsible for dozens of stores with hundreds of workers in each—will see their minimum base pay rise from $130,000 to $160,000, with a cap of $260,000. However, once stocks and bonuses are added into the mix, these so-called market managers will be able to bring in between $420,000 and $620,000 annually.
For context, that range last year was $320,000 to $570,000. The Journal notes that potential bonuses, which were capped at 90% of one's base pay last year, this year rise to 100% of an employee's annual salary, while stock grants increase from $75,000 to $100,000. "I almost fainted when I found out," Dallas-area store manager Greg Harden told Bloomberg last spring about his reaction to discovering that, thanks to last year's changes in Walmart's compensation setup, he could make up to $530,000 a year.
Although many companies have reduced or gotten rid of their middle-manager roster to streamline operations and save money, Walmart has been working hard to improve working conditions for its management teams. Initiatives include improving technology, new benefits like telehealth, and yes, salary boosts—all of which have helped with employee retention and kept turnover lower, Cedric Clark, Walmart's executive VP of store operations, told Bloomberg.
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Interested in working your way up the Walmart ladder for one of these six-figure paychecks? TheStreet reports that the states with the most Walmart stores—ie, where you're likely to find the most job opportunities—include California, Florida, Georgia, North Carolina, and Texas. Walmart notes on its site that about 75% of its salaried managers started out in hourly positions. (More Walmart stories.)
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