Sarah Nassauer on LinkedIn: The $400,000 Job That Doesn’t Require a College Degree (2024)

Wonderful strategy by Walmart prioritizing the well-being and success of their team members resulting in a win-win situation that benefits both the employees and the organization, leading to long-term success and growth!"Take care of your people, and they'll take care of business"- Richard Branson#success #growth #management #motivation #people

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Walmart is allowing its store managers to earn up to $500k a year. A single Walmart store makes about ~$100 million in revenue and employes 400+ people. Each location is basically a successful Series B company. But the company has been facing a pretty significant issue: high turnover. 21% of store managers leave the role in less than 2 years - which was very bad for business.So Walmart came up with a genius plan: Pay them more. And now a Walmart store manager can earn:- $128k in base salary on average - $20k a year in stocks - Up to $320k (or 200% of salary) in bonuses based on the store's profit.Replacing a great employee will cost you much more than keeping them.Just pay people what they deserve.___Interested in career growth & entrepreneurship? Then you'll love my (non-weekly) newsletter: https://lnkd.in/eaR3rFHD

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Employee is an asset, which is not only valuable but also creates value for a company. It’s important to retain employees as valued.

And this is why working with BalancedComp can help you save time and money by tying pay to performance and establishing accurate salary ranges and grades. DM me if you want to have a conversation!

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🚀 Rethinking Retail Careers: Walmart’s Bold Move Beyond Degrees 🚀In a world where college degrees are often seen as the golden ticket to high-paying jobs, Walmart is shattering conventions and redefining career paths in retail. Their recent strategy to offer up to $400,000 in annual compensation for store managers—without requiring a college degree—is a game-changer that challenges traditional career norms.As Walmart increases bonuses and stock grants, they’re not just paying more—they’re investing in the very people who keep their colossal operations running smoothly. These managers are not just overseeing stores; they are driving multimillion-dollar revenue streams and adapting to an ever-evolving e-commerce landscape.This move underscores a powerful message: expertise and leadership can flourish in any environment, and success isn’t bound by academic credentials. By rewarding store managers who have climbed the ranks from clerks to executives, Walmart is promoting a culture of meritocracy and empowering employees to take ownership and drive their own success.As the retail industry continues to evolve, Walmart’s approach serves as a compelling example of how businesses can attract and retain top talent by valuing experience and performance over traditional qualifications. It’s a reminder that in today’s dynamic job market, opportunities are as diverse as the paths that lead to them.Kudos to Walmart for leading the charge and proving that leadership and high performance can—and should—be recognized and rewarded in innovative ways! 👏🏆💼#RetailRevolution #Leadership #CareerGrowth #Walmart #Innovation #FutureOfWorkhttps://lnkd.in/dF6WEWEr

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The retail job market is evolving, with some companies cutting jobs while others are in high demand. Walmart is leading the way by increasing compensation for their superstore managers, offering larger bonuses and stock awards, potentially totaling over $400,000 annually for top performers. Store managers oversee sizable teams and revenue streams, often advancing without college degrees. With the added responsibility of managing e-commerce orders, the role has become more complex. Walmart is addressing concerns about turnover by recruiting and training college graduates for managerial roles and increasing pay and bonus incentives. The new compensation structure includes automatic stock grants, with supercenter managers receiving higher grants compared to those at smaller-format stores.

Exciting news to share about the continued investments we’re making in our Walmart U.S. store managers! Making Walmart the best place to shop means we need to make it the best place to work. To accomplish that, we are on a journey of investing in our associates – from offering competitive front-line pay to benefits that support associates’ health and well-being in all aspects of life. Store manager pay is made up of 1) base pay, and 2) annual bonus. Today, we’re updating both. 1️⃣ First, base pay. We’re simplifying and increasing store manager pay. With this investment and upcoming annual increases, the store manager average base pay will go from $117,000 to $128,000 a year.2️⃣ Second, annual bonus. We’re redesigning our store manager bonus program. In addition to sales, the store profit will play a bigger role in calculating an annual bonus. If a store manager hits all targets, their could now be up to 200% of base salary. Proud of the leadership role our store managers play in communities across the country. Interested in being a store manager at Walmart? Go to Careers.Walmart.com #TeamWalmart #OurPeopleMaketheDifferenceRead more from our EVP of Store Operations, Cedric Clark here: https://lnkd.in/g2eTn2u6

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Exciting news to share today about the continued investments we’re making in our Walmart U.S. store managers! Making Walmart the best place to shop means we need to make it the best place to work. To accomplish that, we are on a journey of investing in our associates – from offering competitive front-line pay to benefits that support associates’ health and well-being in all aspects of life. Store manager pay is made up of 1) base pay, and 2) annual bonus. Today, we’re updating both. 1️⃣ First, base pay. We’re simplifying and increasing store manager pay. With this investment and upcoming annual increases, the store manager average base pay will go from $117,000 to $128,000 a year.2️⃣ Second, annual bonus. We’re redesigning our store manager bonus program. In addition to sales, the store profit will play a bigger role in calculating an annual bonus. If a store manager hits all targets, their could now be up to 200% of base salary.Proud of the leadership role our store managers play in communities across the country. Interested in being a store manager at Walmart? Go to Careers.Walmart.com. #TeamWalmart #OurPeopleMaketheDifferenceRead more from our EVP of Store Operations, Cedric Clark here: https://lnkd.in/g2eTn2u6

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We announced some exciting news this week! We are taking the next step in our journey of investing in our associates. Walmart store managers are the best leaders in retail, and we’re investing in them. Store managers pay is made up base pay and an annual bonus. Now, we’re updating both: ✅ Base pay: raising a store managers average salary from $117,000 to $128,000 a year – once annual increases take effect.✅ Annual bonus: redesigning their bonus program, which gives store managers the opportunity to earn an annual bonus of up to 200% of their base salary. If you’re interested in becoming a store manager at Walmart, visit: Careers.Walmart.com. #TeamWalmart#OurPeopleMaketheDifference #APathforEveryone

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WSJ: Amazon is cutting hundreds of jobs. So are Macy’s and Wayfair. But one retail worker is still in high demand: Walmart WMT 0.13%increase; green up pointing triangle superstore manager. Walmart is giving bigger bonuses and adding stock awards to their annual pay packages, pushing the total compensation for the best ones to more than $400,000 a year. The retail giant has thousands of store managers who act as midlevel executives. Each can often oversee a store with 350 workers and $100 million in annual revenue. Many start as clerks and climb the ranks without college degrees. Store managers will now be able to earn up to $20,000 in annual stock grants and an up-to-200% bonus each year. The average base salary for a Walmart store manager is around $128,000.