Walmart offering hourly employees bonuses of up to $1,000 a year, other benefits (2024)

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Walmart offering hourly employees bonuses of up to $1,000 a year, other benefits? ›

The nation's largest private employer said that both part- and full-time employees will now be eligible for a financial bonus of up to $1,000 a year. The longer an hourly store associate stays with the company, the higher their bonus potential is, Walmart said.

BENTONVILLE, Arkansas, June 5 (Reuters) - Walmart (WMT. N) , opens new tab will pay bonuses to its U.S. hourly store workers, including those at its pharmacy and Vision Center stores, the retailer said on Wednesday, in a move that could boost wages for 700,000 front-line staff.

Walmart's full- and part-time hourly store employees will be eligible for bonuses up to $1,000 per year, two executives announced via Walmart's company website on June 5. The new bonus scales with years of service, Walmart said, and employees have the chance to earn more the longer they stay with the company.

The average Team Leader base salary at Walmart is $43K per year. The average additional pay is $3K per year, which could include cash bonus, stock, commission, profit sharing or tips. How was this calculated?

This year, US hourly and OTR driver associates will be eligible to receive a holiday bonus payout, depending on the length of time they've been with Walmart and whether they're full-time or part-time. The bonus payout will appear on eligible associates' regular paychecks on Dec. 7, 2023.

Store managers are now also eligible for annual bonuses of up to 200% of their salary. Based on the new average salary, the highest annual bonus possible and the full $20,000 stock grant, a U.S.-based Walmart Supercenter manager could earn $404,000 — or more — annually.

Executives receive higher bonuses that can multiply based on performance, while most employees earn bonuses equal to 1% to 5% of their overall salary.

Walmart is bringing back bonuses for U.S. store workers after scrapping its decades-old quarterly bonuses about two years ago.

For example, a full-time worker who's been with Walmart between one year and almost five years can earn a maximum bonus of $350 per year, while a 20-year full-time worker can earn a maximum bonus of $1,000, Walmart said. The plan will be available to 700,000 U.S. workers, the company said.

For associates who have worked with Walmart for one to almost five years, the maximum bonus can be $350 per year, while a 20-year worker can earn a maximum of $1,000. According to the company, the plan will be available to 700,000 U.S. associates.

What is the Walmart incentive payout? ›

A worker who has been with Walmart for one to five years will be eligible for a maximum of $350. A 20-year full-time employee can get up to $1,000, The Associated Press reported. The retailer has about 5,000 stores in the U.S. with 1.7 million employees. Walmart's minimum starting wage is $14, Reuters reported.

Please note that this means you will not be able to be 'double-paid' for working on a holiday. In the case of a holiday when your facility is closed, you would need to use a day of PTO to be paid.

Along with salary increases for managers, comes an increase for the company's hourly workers. Clark, who started as an hourly worker in a Washington state Walmart, said the company will invest in its non-salary workers by increasing the hourly wage to over $18.

Walmart U.S. associates have access to a 10% associate discount on fresh produce and select general merchandise. Associates also get great discounts on services like gym memberships and cell phone plans.

Walmart's announcement marks a reversal of sorts, given that the company phased out its quarterly bonus structure for store associates in 2021 in favor of boosting hourly base pay.

Walmart raised both the base salary range and bonus pay range for store managers in early 2024. Walmart store managers can now make anywhere from $90,000 to over half a million dollars annually in total compensation, including base salary and incentive awards.

The retail giant announced a new average annual salary of $128,000 this month. High-performing Walmart managers now have the ability to earn more than $400,000 a year after the retail giant announced it is offering the ability for some managers to earn $20,000 worth of stock grants starting in April.

No college degree needed

It noted that a college degree isn't required to become a manager, and that 3 in 4 people in management roles at its stores, clubs or supply chain divisions started as hourly workers. On average, it requires about 5 years to move from an entry-level role to management, the company added.

What's considered “typical” or “good” for a bonus amount really depends on the type of bonus you're receiving. An annual bonus of 5-10% of your yearly salary is standard in a lot of industries, just as a 5-10% annual raise is considered standard.

They usually range from 5-10% of your year's earnings. For example, if your salary is $50,000 a year, your holiday bonus can vary from $2,500 to $5,000. You can usually determine your bonus percentage by checking your employment contract or asking a supervisor.

What month are bonuses paid? ›

Year-end bonuses are typically paid within the first few months of the new year. Annual bonuses may be paid at the same time each year, although the company typically sets the timeline for when they will be paid to employees.

Please note that this means you will not be able to be 'double-paid' for working on a holiday. In the case of a holiday when your facility is closed, you would need to use a day of PTO to be paid.

Walmart, the nation's largest private employer, expanded its pay incentives with a plan to offer hourly-wage earners bonuses that could boost incomes and keep people at their jobs.

Walmart stores have varied hours, so Walmart has a company-wide policy to start its workweeks at 12:00 am on Saturday and end them at 11:59 pm on Friday. If a non-exempt Walmart employee works more than 40 hours during this period, they're eligible for overtime pay for those extra hours.