Walmart Raises Annual Pay For Store Managers

(RTTNews) - Walmart Inc. (WMT) has announced that it is redesigning its bonus program and increasing the average pay for managers.

The store managers in the United States will receive a pay increase starting on February 1, from an average of $117,000 their pay will increase to $128,000. Furthermore, the business revamped its bonus program for store managers, which now calculates sales and profits to award managers with an annual bonus of up to 200% provided all goals are met.

"We see an investment in you as an investment in our culture, our core values, and in the day-to-day experience of every associate in every store. Investing in you is an investment in our future," said Cedric Clark, head of store operations for Walmart US, in a note to managers that was posted on Walmart's corporate website.

Furthermore, hourly employees at Walmart will now make over $18 per hour, a small increase from their current wage of $17.50.