US retail giant Walmart has said that it will raise the average annual salary and bonus for its store managers in the US.

Starting 1 February, the average salary for store managers at Walmart will increase from $117,000 to $128,000, with the annual bonus potentially reaching 200 per cent of base salary depending on targets achieved.

In a note sent to staff, Cedric Clark, executive vice president, store operations, Walmart US, said that “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.”

Clark noted that approximately three quarters of the company’s field management teams began their Walmart careers in the “hourly ranks”, with the executive citing his own experience of starting as a sporting goods hourly associate in Washington state.

“I was able to grow my career because people invested in me. I know firsthand that the possibilities are endless when working at Walmart. And the possibilities are endless for you and for everyone you lead every day,” he said.

Walmart in September announced a change in its wage structure to align hourly starting pay across all job roles and departments. The company employed around 1.6 million associates in the US at the end of the 2023 fiscal year.

---