Walmart Raises Wages to Average Over $15 an Hour; Minimum Remains the Same

By Sheridan Fifer

On Thursday, Walmart announced that 425,000 associates will receive a raise in pay, which will have the effect of raising Walmart's average wage to over $15 an hour. Walmart's minimum starting wage will remain at $11 an hour.

Walmart has faced pressure to raise wages, especially as rivals such as Amazon and Target raise theirs. In 2020, Target raised its starting hourly wage to $15.

CEO Doug McMillon has said that he supports a higher federal minimum wage (which currently stands at $7.25 an hour), but not the movement to raise it to $15 an hour. He wants to offer Walmart associates a true career path, in which pay is tied to responsibility and tenure. 

“What we’re trying to do is put together the opportunity for our associates to climb a ladder,” he said. He noted that he began at Walmart as an hourly worker.

Read the full story at CNBC.