EARNING A $400,000.00 COMPENSATION, WITHOUT DROWNING IN COLLEGE DEBT!
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
Mike Rowe, Host of “Dirty Jobs,” is NOT a fan of the value of some college degrees. I agree. Too many of our universities have for decades increased tuition and room and board at levels the cartel envy! Below is ONE example of a career path that, with the right TUDE and Damn Hard Work, can lead to a $400,000.00 annual compensation package. Education requirement: High School Degree! FYI- That is all Bill Gates has earned!
I support college education but get a value-added degree. My rule of thumb is NEVER to borrow more than the average first year of compensation. To borrow $150,00 for a degree in NONSENSE that pays about the minimum wage is INSANE. Think before you place a lifetime burden on your shoulders.
One more thing. When you work at Walmart, McDonald’s, or ANY JOB and your attitude is that this job is beneath me, don’t waste your time reading this blog!
“From Debt-Free Dreams to $400,000: Your Guide to a Successful Career Without College Loan Stress”
“The $400,000 Job That Doesn’t Require a College Degree“
Sarah Nassauer
“Walmart is giving store managers higher bonuses and stock grants as the job becomes more difficult in the e-commerce era.
Amazon is cutting hundreds of jobs. So are Macy’s and Wayfair. But one retail worker is still in high demand: Walmart superstore manager.
Walmart is giving bigger bonuses and adding stock awards to their annual pay packages, pushing the total compensation for the best ones to more than $400,000 a year.
The retail giant has thousands of store managers who act as midlevel executives. Each can often oversee a store with 350 workers and $100 million in annual revenue. Many start as clerks and climb the ranks without college degrees.
Store managers will now be able to earn up to $20,000 in annual stock grants and an up-to-200% bonus each year. The average base salary for a Walmart store manager is around $128,000.
That means a successful manager of a large Walmart store can earn up to $404,000 a year in total compensation. A Walmart spokeswoman declined to share how many managers generally receive their full bonus each year.
The job has become more complex in recent years, said John Furner, Walmart U.S. chief executive. Store managers are now evaluated on and responsible for e-commerce orders sourced from their stores, said Furner, who once worked as a Walmart store manager.
For store managers, the addition of an automatic stock grant, “makes it easier for them to think and act like owners because they are,” said Furner.
Walmart has worried about its pipeline of store managers. In 2022 it started a program to recruit and train college graduates for the job to help build its pool of possible candidates.
Store manager turnover has stabilized over the past year compared with earlier in the pandemic, said Furner. “We are keeping store managers in their location a bit longer,” he said.
Earlier this month, Walmart raised the average store manager pay to $128,000 from $117,000 and increased the possible bonus one could earn to 200%, up from 150%.
The automatic stock grants are highest for managers who run supercenters, the large format Walmart stores that sell everything from food to vacuums. Those who run smaller format stores earn less.“
Write to Sarah Nassauer at Sarah.Nassauer@wsj.com
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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
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