How much money do Walmart store managers make in 2024? Is a college degree required?
The world’s largest retailer and biggest employer in the US has implemented raises for its workers. This is how much a Walmart store manager earns in 2024.
In February, Walmart increased the salary of store managers at locations in the United States. According to a press release put out by the company, the nine percent increase will be tacked onto the $117,000 yearly salary registered in 2023, resulting in a salary of $128,000 per year by the end of the year. The statement was released by John Furner, the Presidnet and CEO of Walmart.
In addition to the salary increase, the company offered managers up to 200 percent of their salary in annual bonuses based on the profits and sales of their respective stores, resulting in a much-improved compensation package. The salary hikes came into effect on 1 February. Though this salary hike is good news for many, Walmart’s store managers have even more cause to celebrate. The company said that Supercenter managers can now make up to a total of $400,000 per year. Lastly, Walmart announced earlier this year that they would be giving up to $20,000 in stocks each year to store managers, making them, in effect, part owners of the company.
Does being a manager at Walmart require a college degree?
This career path is open to almost any Walmart worker, as the store manager position does not always require a college degree. According to the retailer, an employee takes about five years to advance from an entry-level position to a management post. The company adds that 75% of its managers began their careers at the store as hourly employees.
However, on the company’s career website, the Superstore Manager positions do say that the candidate should have a Bachelor’s degree and at least two years of general management experience. The job postings for Manager positions at locations other than Supercenters do not require a college degree. So, there are options for college graduates and those prepared to put in the years at the company to get on a management track.
The best and worst paying jobs at Walmart
Although being a Walmart manager will pay you a great salary, this position is far from one of the best paid in the company.
Employees who operate within the corporate sector of the company or those who supervise the organization’s activities at a financial and stock level earn the most. According to the Glassdoor database, a recognized job board software in the United States, these jobs have an average annual salary of over $580,000.
On the other end of the scale, the worst salaries go to Cap 1 members, who are in charge of removing all the things from the back room and putting them on the shelves. The average annual salary of these workers ranges from $27,000 to $31,000.