RICHMOND, Va. (WRIC) — More than a million Walmart and Sam’s Club associates in the U.S., including over 5,600 locally and 37,000 in Virginia, will receive a pay raise in their March 10 paycheck.
The increases are part of the company’s two-year, $2.7 billion investment in higher pay, better training, clearer career paths and additional educational opportunities for its workers.
This month’s pay changes include:
- All associates hired before Jan. 1, 2016 will earn at least $10 an hour.
- New entry-level associates hired after Jan. 1 will continue to start at $9 an hour and will move to at least $10/hour after successfully completing the company’s new retail skills and training program known as Pathways.
- Associates already earning more than $10 an hour will see their annual pay increase starting in March rather than waiting until their anniversary date.
- Walmart is raising the starting rate of its non-entry level hourly pay bands. Anyone earning below the new minimum will automatically move up to the new minimum.
- Associates at or above their pay band maximum will receive a one-time lump sum payment equal to 2 percent of their annual pay.
In addition to the higher wages, the March 10 paycheck for eligible Virginia associates will include a share of the more than $7.8 million bonus earned in the fourth quarter of the year alone.
Walmart associates are eligible for quarterly cash bonuses based on their store’s performance. For the full fiscal year, Walmart associates across the U.S. earned more than $550 million in bonuses, including over $20.4 million in Virginia.
Walmart’s associate investment is designed to provide workers with the skills, knowledge and tools they need to grow with the company. Walmart is creating new training programs, which will create clear career paths from entry-level positions to jobs with more responsibility and higher pay.
Last year, Walmart U.S. and Sam’s Club promoted more than 200,000 associates, including over 7,600 in Virginia, to jobs with higher pay and more responsibility. In addition, more than 150,000 associates, including over 4,600 in Virginia were converted from part-time to full-time.