This article originally appeared on Business Insider.
It’s a good year to be a store manager at Walmart.
Fresh from announcing earlier this month substantial pay and bonus increases, the company said Monday that it will add annual stock grants of up to $20,000 to store managers’ pay packages.
“The manager of a Walmart store runs a multimillion-dollar business and manages hundreds of people, and it’s a much more complex job today than when I ran a store,” John Furner, president and CEO of Walmart’s U.S. division, said in a video. Walmart. posted on LinkedIn as the company kicks off an annual meeting in Houston, Texas.
“We ask our managers to take responsibility for their roles and behave like owners,” he added. “Now they will literally own it.”
The grant amount will depend on the size of the store, with $10,000 for Hometown store managers, $15,000 for Neighborhood Market or Division 1 store managers and $20,000 for Supercenter managers. Furner said the grants will begin in April.
Walmart operates more than 4,600 stores in the United States and employs 1.6 million people there.
These grants are in addition to a new salary and bonus structure that goes into effect Thursday, Feb. 1, bringing the average base salary for U.S. store managers to $128,000, up from $117,000.
Under the plan announced on January 18, the maximum bonus is increased from 1.5 times the annual salary to 2 times the annual salary and will focus more on the store’s profitability as well as peak sales.
That means a Supercenter manager with a high-end base salary of $170,000 could earn a total of $530,000 after receiving the maximum bonus and stock award, while the average U.S. store manager could see compensation of about $400,000 this year.
About three-quarters of Walmart store managers started in hourly roles, and the company does not require a college degree to be considered for the job.