Stock grants are the company’s latest effort to boost compensation for managers. It said in January that the average store manager’s salary will increase to $128,000 from $117,000. Walmart is also redesigning its bonus program so that store profits play a bigger role in determining awards. Managers can now receive as much as 200% of their base salary in bonuses if targets are met. About 75% of Walmart’s managers started as hourly employees and on average took about five years to land a management role, according to the company. A manager making the new average salary and hitting the top end of the bonus range could make $404,000 a year with the maximum stock grant.
- Date Posted:
- January 29, 2024
Funding for U.S. startups topped $300 billion in 2021—more than double the prior year—pumping up valuations. But a series of steep rate increases beginning in 2022—the fastest pace in four decades—sapped desire to chase returns in the riskier world of startups. Venture funding dropped for a second year in a row to $167 billion last year. Venture capitalists like to say that the best companies can weather any macroeconomic storm. Take OpenAI, which is set to roughly triple its valuation to almost $90 billion. But for most of startup-land, the era of cheap money was over.