This text originally appeared on Business Insider.
It’s an excellent 12 months to be a store manager at Walmart.
Fresh off the announcement earlier this month of substantial pay and bonus increases, the corporate said Monday that it’s adding annual stock grants of as much as $20,000 to the shop managers’ compensation packages.
“A Walmart store manager is running a multi-million dollar business and managing lots of of individuals, and it is a way more complex job today then after I managed a store,” said John Furner, President and CEO for Walmart’s U.S. division, in a video posted on LinkedIn as the corporate kicks off an annual meeting in Houston, Texas.
“We ask our managers to own their roles and act like owners,” he added. “Now, they’ll literally be owners.”
The quantity of the grant will rely upon the scale of the shop, with $10,000 for Hometown store managers, $15,000 for Neighborhood Market or Division 1 store managers, and $20,000 for Supercenter managers. Furner said the grants will start in April.
Walmart operates greater than 4,600 retail locations across the US and employs 1.6 million people here.
These grants are on top of a latest salary and bonus structure that can kick in on Thursday, February 1, bringing the typical base salary for US store managers to $128,000, up from $117,000.
Under the plan announced on January 18, the utmost bonus increased from 1.5x annual salary to 2x annual salary — and can focus more on store profitability along with top-line sales.
This implies a Supercenter manager with a top-end base salary of $170,000 could earn a complete of $530,000 after receiving the utmost bonus and stock grant, while the typical U.S. store manager could see roughly $400,000 in compensation this 12 months.
Roughly three-quarters of Walmart store managers began off in hourly roles, and the corporate doesn’t require a school degree to be considered for the job.