Walmart (WMT) to raise U.S. average wage to $17.50/h

January 24, 2023 1:20 PM EST

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In a letter published on their corporate website, today Walmart (NYSE: WMT) announced that, starting next month, the retailer will begin investing in higher wages for their associates. With a mixture of regular annual increases and targeted investments in starting rates for thousands of stores, management expects their U.S. average hourly wage to increase to more than $17.50. These changes will be reflected in their March 2nd paychecks.

The company also announced continued investment in associates that run the company’s Auto Care Centers (ACC) by introducing a higher-paying ACC team lead position and elevating the ACC tech position to a higher pay-band that reflects the special skills needed for the role.

Additionally, the announcement included the addition of new college degrees and certificates to Walmart’s Live Better U (LBU) education program. The new options are focused on where Walmart’s business is headed and will equip associates with skills to unlock new career opportunities.

“We’re proud to continue investing in Walmart’s legacy by introducing new job opportunities and raising pay. No matter where you are in your journey, getting your start here can open doors – the first step into jobs that become careers and build better lives.” —John Furner, president and CEO, Walmart U.S. associates.

Shares of WMT are up 0.31% in mid-day trading on Tuesday.

By Michael Elkins | [email protected]

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