Walmart is the second-largest retailer in the world, with billions in revenue every year and millions of employees all over the globe.
Such a successful company can afford to pay its employees well, and Walmart has picked up the slack in recent years, upping wages.
But does Walmart give bonuses? Can your average sales associate expect a little extra in their paychecks from time to time based on store performance? Here’s what you need to know.
Does Walmart Give Bonuses?
Walmart no longer dispenses quarterly bonuses to its employees as of January 2022. Previously, Walmart did give bonuses to its employees four times a year and had done so for decades. The company opted instead to raise its hourly wages, saying in a statement the move was almost universally desired by associates.
Let’s look at some of the different types of bonuses Walmart has rewarded, as well as how they plan to make up the difference now for employees, whether anyone will still receive any bonus moving forward, and other ways to earn more from Walmart. Keep reading!
How Much Bonus Does Walmart Give?
Although Walmart has ceased its quarterly bonus program for employees, it did disperse this money for decades.
Four times a year, employees could expect a little bit extra in their checks, but ultimately the money was tied to store performance.
So a less successful quarter could mean a smaller bonus – not a terribly stable bit of income.
Then in September 2021, Walmart announced it was ending the quarterly bonus program, opting instead to raise wages.
This way, their reasoning goes, employees will see more money in their paychecks on a regular and stable basis.
According to a spokesperson for Walmart, the move was partly precipitated by “an overwhelming majority” of employee input saying they preferred the wage raise.
However, that is not the only type of bonus Walmart has doled out in recent years.
With the coming of the COVID-19 pandemic, workers all across retail were pushed to the brink, literally risking their lives for their jobs in the midst of a global public health crisis.
Walmart awarded bonuses as a thank you to their employees for their hard work under strenuous conditions. These amounted to $300 for full-time employees and $150 for part-time ones.
At the same time Walmart announced this, they also reported they would give out that quarter’s bonus (it was 2020) early.
Do Walmart Team Leads Get Bonuses?
Walmart’s quarterly bonus program, which was tied into store performance, is done.
But a commenter on this thread insists that team leads and store managers will still receive annual bonuses, and they’re tied into store performance.
An outraged thread over on Reddit also features many commenters speculating on the hefty store bonuses some store managers may see.
The OP even says that they heard assistant managers get 15 percent of their salary annually,
Co-managers get up to 25 percent and store managers can get as much as 50 percent.
How Often Do You Get A Raise At Walmart?
If you can’t rely on the quarterly bonuses from Walmart anymore, you can rely on your regular paycheck.
And you can also look forward to raises.
It appears that Walmart gives raises every six months to a year. They are, of course, tied into performance, but many find the raises insubstantial.
Many commenters on this thread report raises of $0.25 cents and thereabouts.
And some report that they have worked for the company for over a decade and still don’t make $15/hour.
However, in 2021 Walmart announced it was giving everyone a raise of at least $1, an announcement which meant their average wage was $16.40.
The minimum pay there is currently $12.
Does Walmart Do Yearly Raises?
It appears that the more common timeframe for raises at Walmart is once a year, although some have reported it every six months.
An annual performance review and raise (should performance metrics be met) is most common.
If you are looking to get your foot in the door somewhere and then ascend up the pay scale quickly, it appears Walmart isn’t the company for you.
What Are The Employee Benefits At Walmart?
Despite not giving out quarterly bonuses to their store associates any longer, Walmart still offers a plethora of benefits with employment.
Some examples include scheduling stability, 401(k) matching, health, and life insurance plans, paid maternity and parental leave and even college tuition reimbursement.
In fact, Walmart has made it completely free for their employees to pursue a higher education degree, provided it’s in an associated field (e.g., business, finance, etc.).
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 ended its quarterly bonus as of January 2022, instead bumping up employees’ salaries for a more stable income.
Beyond wages, though, Walmart does offer its employees a generous benefits and perks package, though the company is slow to award substantial wages.