Walmart to Bring Back Bonuses for Store Employees (2024)

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Walmart to Bring Back Bonuses for Store Employees? ›

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 amount employees receive is tied to their store's performance and the number of years the person has been with the company. Walmart offered hourly employees one-time bonuses during the pandemic, but the incentive pay announced Wednesday will continue as long as a worker stays with the company.

June 5, 2024, at 9:28 a.m. BENTONVILLE, Arkansas (Reuters) -Walmart 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.

The estimated total pay range for a Team Leader at Walmart is $44K–$63K per year, which includes base salary and additional pay. The average Team Leader base salary at Walmart is $48K per year. The average additional pay is $4K per year, which could include cash bonus, stock, commission, profit sharing or tips.

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.

By the numbers: The first payout for the new annual bonus program for hourly workers will be in March 2025, Walmart told Axios. Walmart has approximately 1.2 million U.S. associates and the majority are hourly employees, the company said.

The maximum bonus of $1,000 per year will be available to full-time workers who have been working for approximately 20 years in the company, while those who have worked between one and five years could receive a bonus of $350 per year.

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.

Its overall revenue rose 4.8% to $169.3 billion, beating Wall Street forecasts of $168.53 billion. Walmart shares rose as much as 8.4% to a record high of $74.44. The blue-chip stock has climbed 30.7% in 2024 as of Wednesday's close, outperforming the S&P 500's (. SPX) , opens new tab 14.4% rise.

What is the manager bonus at Walmart? ›

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.

Based on feedback from 275 Walmart employees about sign on bonuses, 71% said “I didn't receive a signing bonus.”In the case of employees at Walmart who did receive a bonus the most common sign on bonus received was $1,000 - $5,000.

Walmart announced Wednesday it is paying annual bonuses to U.S. hourly store workers, including those at pharmacy and Vision Center stores. Both part-time and full-time associates will be eligible for the new annual bonus program, Walmart U.S. CEO John Furner said in a release from the retail giant.

It is important to note that, though there is no longer any such thing at Walmart as Holiday Pay it has not been taken away - that time is now part of PTO. Walmart no longer pays for holidays . You have to use your vacation or your accumulated personal days. They don't pay for anything extra.

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.

This new associate bonus rewards great work and customer service and it celebrates long-term associates who build a career at Walmart: The longer an hourly store associate stays with the company, the higher their bonus potential, up to $1,000 a year.