From Illinois Business Journal news services
As part of what the company calls the largest single-day, private-sector pay increase ever, more than 1.2 million Walmart and Sam’s Club associates in the U.S will receive a pay raise in their March 10 paychecks.
Those affected include more than 13,600 workers in the St. Louis Metro area and more than 38,000 in Missouri and 47,900 in Illinois.
The increases are part of the company’s two-year, $2.7 billion investment in higher pay, worker training, clearer career paths and additional educational opportunities.
Walmart associates are eligible for quarterly cash bonuses based on the performance of their store. For the full fiscal year, Walmart associates across the country earned more than $550 million in bonuses, including more than $22.2 million in Missouri and $27.3 million in Illinois.
In addition to the higher wages, the March 10 paychecks for eligible Missouri and Illinois associates will include a share of the more than $15.4 million in bonuses earned in the fourth quarter of the year alone.
Walmart is also creating new training programs that are designed to create clear career paths from entry-level positions to jobs with more responsibility and pay.
Last year, Walmart U.S. and Sam’s Club promoted more than 200,000 associates, including more than 8,300 in Missouri and 10,000 in Illinois. In addition, more than 150,000 associates, including more than 4,700 in Missouri and 6,900 in Illinois were converted from part-time to full-time.
This month’s pay changes include:
• All associates hired before Jan. 1, 2016, will earn at least $10/hour. New entry-level associates hired after Jan. 1 will continue to start at $9/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/hour will see their annual pay increase starting in March rather than waiting until their anniversary dates.
• 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.
Walmart in Illinois
In Illinois, the company:
• Operates 196 retail units.
• Spent $45.1 billion with local suppliers, supporting 139,939 supplier jobs in FYE 2015.
• Paid more than $282 million in taxes and collected more than $602.8 million in sales taxes in FYE 2015.