Enormous corporations like Walmart rely on the hard work of dedicated employees to keep operations going, and they can afford to reward them amply.
In some cases, employees in a variety of levels have seen increases in pay and can take advantage of numerous company benefits, like car-buying programs and stock purchases.
But does Walmart give bonuses? Here is what I discovered!
Does Walmart Give Bonuses In 2021?
Walmart employees receive quarterly bonuses and will continue to do so until the first quarter in 2022, when the program will be phased out in favor of higher wages. Walmart also recently offered strategic bonuses to incentivize employees to delay vacations, as well as to employees who have worked through unprecedented crises.
For more on who receives Walmart bonuses, why Walmart phased out their quarterly bonuses, and how much the CEO of Walmart receives in bonuses, check out all the details below!
Who Receives Walmart Bonuses?
Historically, associates in stores, clubs, distribution centers and fulfillment centers, as well as drivers, managers, and assistant managers have received bonuses.
For example, this entire group received cash bonuses, amounting to $300 for full-time employees and $150 for part-time and temps.
According to Walmart, the company spent about $1.1 billion in cash bonuses for employees throughout the entire year, a period marked by undue hardship on retail workers.
Additionally, Walmart announced it would offer as much as $500 extra per week to full-time warehouse employees who delayed their vacation time through the end of the year.
(Depending on their locations, employees could see between $200 and $500 extra per week.)
This move is designed to keep operations running as smoothly as possible into what is shaping up to be an unpredictable holiday shopping season.
Does Walmart Still Give Quarterly Bonuses?
Walmart still gives quarterly bonuses to its employees, though the company plans to phase these out after the final payment, in Q1 2022.
Walmart announced this move in September 2021.
The quarterly bonuses were given out, as the name suggests, four times a year, starting in 2007, and they were tied into store performance.
However, a representative from Walmart said of the shift that employees had expressed their desire for more pay on a weekly basis, and for reliable amounts that they could count on.
Because the quarterly bonuses could dip if performance dipped, they represented a nice bit of extra income, but they weren’t a stable one.
They also raised the wages of about 425,000 employees (thus making their average wage $15 an hour) earlier in the year.
Walmart is clearly hoping that employees won’t miss their quarterly bonuses in favor of higher paychecks that they can reliably predict each pay period.
The end of quarterly bonuses does not seem to indicate a lack of bonuses completely, though.
Associates and employees will likely continue to receive bonuses, given at the company’s discretion, as incentives or awards.
Do Walmart Managers Get Bonuses?
Historically, Walmart management is included in bonuses.
According to the r/Walmart thread on Reddit, assistant store managers could pull in as much as $8,000 from their annual bonus.
Some store managers received as much as $60,000 to $90,000!
The announcement that Walmart was ending quarterly bonuses in favor of higher pay for their waged employees may not apply to management, though.
According to a commenter on an article, it appears managers and team leaders will continue to receive regular bonuses tied in with store performance.
However, I cannot verify this from any other sources.
Does Walmart Offer A Hiring Bonus?
Walmart does not currently offer a hiring bonus as other retailers might.
However, there are no waiting periods for employees to take advantage of Walmart’s Live Better U higher education payment program or their stock purchase program.
How Much Does The Walmart CEO Get In Bonuses?
One individual who receives a major bonus every year is the CEO.
On top of his $1.276 million base salary, CEO Doug McMillon received a cash bonus of $3.816 million!
This bonus is directly tied in with operating income and sales revenue.
Walmart is phasing out their quarterly bonuses for full and part-time waged associates, in favor of higher pay.
These changes won’t take effect until Q1 in 2022, but in the meantime, there is no telling when Walmart might issue other performance-based bonuses to their hard-working employee pool.