Surprise announcement for Walmart store managers in Mississippi

All of the Walmart store managers in Mississippi received more great news on Monday. Monday morning, Walmart U.S. CEO John Furner made a surprise announcement of a new benefit for store managers – that starting this year, all Walmart store managers in Mississippi and across the U.S. will receive an annual stock grant of up to $20,000. The official announcement is posted to John Furner’s LinkedIn.

This news comes on the heels of the Jan. 18 announcement about investments in store manager pay in Mississippi and across the U.S. – resulting in the store manager average salary increasing to $128,000/year and a newly designed bonus program which gives store managers the opportunity to earn an annual bonus that’s up to 200% of their salary.

Monday’s announcement is the latest step in our ongoing journey of investing in our store associates – a journey that’s focused on pay raises for hourly store associates over the past several years.

Key Highlights:

While on stage this morning at Walmart’s annual Year Beginning Meeting in Houston, John Furner surprised the store managers in the audience with news that the company is now giving all store managers up to $20,000 in Walmart stock every year.
The amount of the annual stock grant is based on store format, here’s the breakdown:
$20,000 – Supercenter
$15,000 – Neighborhood Market or Division 1 store
$10,000 – Hometown store
Walmart store manager total pay now includes:
$128,000 average salary
Yearly bonus that’s up to 200% of their salary
Yearly Walmart stock grant up to $20,000
Last week, the company announced a redesigned bonus program which gives store managers the opportunity to earn an annual bonus that’s up to 200% of their base salary.
Starting next month, Walmart store manager’s base salary (before bonus) will increase to $128,000/year.

Here’s the secret few people know: With hard work and dedication, just about any Walmart associate can become a Walmart store manager and run a multimillion-dollar business. In fact, approximately 75% of Walmart store, club and supply chain management started as hourly associates and on average it only took 5 years to get to a management position, and a college degree is not required.