Popular big box retail chain, Walmart has recently announced it will be implementing pay raises for its market managers. If a market manager earns the maximum possible amount in all of the compensatory measures, they will take home a maximum payout of over half a million dollars. In these tough economic times, it might not be a bad idea to work your way up the ladder in retail — and Walmart might just be the perfect place to do it this year.
Why should you work at Walmart?
Starting out as a simple associate can prove to be greatly beneficial to you in the long term. Statistics suggests 75% of Walmart employees in managerial positions actually started out as hourly associates who would stock shelves and provide customer service, achieving promotion upon promotion as they climbed the proverbial corporate ladder.
At an associate level, you can expect to receive an average U.S. hourly wage of more than $17.50 (higher in many areas and roles), competitive benefits, and an approximately two-thirds full-time workforce. The company claims to be constantly investing in associates as well. An example of this effort is the introduction of cash bonuses for Walmart U.S. hourly associates based on length of service and performance and it has invested in the compensation structure for store managers, increasing base salary and introducing stock grants.
Skill requirements
Even if you are not college-educated, you can build a fruitful, growth-filled career with the company. This is because 75% of the jobs at Walmart do not require degrees, including store, club, and supply chain management roles paying over $100,000.
Walmart has initiated training programs helping associates build skills for roles like private fleet driver, optician, and technician to fulfill its demand for specialized roles.
According to the company, 40% of Walmart’s U.S. hourly workforce is under the age of 30, with more than 11% under the age of 20. The retailer also sees great value in skills and knowledge gained through work experience, volunteerism, military service, and education, as well as individual interests and aptitude.
Benefits and growth opportunities
In addition to wages and to only name a few, the company also provides its employees with the following:
- A discount card that provides a 10% discount on fresh fruits, vegetables, and regularly priced general merchandise, plus select merchandise on Walmart.com.
- Stock ownership programs that currently have 41% of active full-time and salaried U.S. associates participating in at least one of Walmart’s stock ownership programs, including the Associate Stock Purchase Plan (ASSP) and the Walmart Stock Incentive Plan.
- Access to tools and apps managed by expert third parties for financial planning.
- Full-time associates and eligible part-time associates have access to health coverage through Walmart with coverage starting at $34.50 per biweekly pay period.
A more detailed breakdown of employee benefits can be found on the company website.
The potential for career growth is also quite impressive. As per the corporate website, company statistics have shown:
- Walmart U.S. associates receive their first promotion, on average, within eight months of joining the company.
- Over the last five years (FY2020-FY2024), an average of more than 180,000 U.S. associates received promotions each year.
- 86% of U.S. roles above entry level were filled internally in FY2024.
- Approximately 75% of our U.S. salaried store, club, and supply-chain management started their careers in hourly positions. Associates in these roles earned an average of more than $111,000 in FY2024.
Retirement
The retailers offers a competitive retirement package as well. Benefits include a 401(k)-contribution plan for all U.S. associates beginning on their first day of work and a match of up to 6% for full- and part-time hourly U.S. associates credited with 1,000 hours of service during their first year. FY2024 ended with an average enrollment of approximately 704,000 in the 401(k) program and Walmart’s company match in the U.S. totaled $1.6 billion.