Walmart improves pay for managers, hourly workers

Walmart store managers are getting a raise in pay and a redesigned bonus plan, reports the Associated Press.

The new starting annual base wage will range from $90,000 to $170,000, moving the average up to $128,000. Previously, store managers were pulling in $65,000 to $170,000. According to Walmart, about 75% of store managers started on an hourly pay.

The bonus program for the floor leaders also is being revamped. Profits will play a bigger role, and if a manager hits all their goals for the year, they could double their base salary. Bonuses used to lean heavily on sales rather than profits.

In addition, Walmart hourly workers will receive a bump in pay. The Bentonville, Ark.-based retailer will now pay over $18 an hour, a slight increase from the current wage of $17.50 an hour.

The payroll changes will kick in on Feb. 1 and will usher in a new strategy for employee compensation at Walmart. The retailer wants to retain workers in what has been a very competitive job market the last couple of years.