Walmart-owned Sam’s Club said Tuesday it would raise average hourly wages for nearly 100,000 of its workers as part of a new employee compensation plan that will take effect before the holiday season.
Wages for entry-level workers will now start at $16 an hour, up from $15 three years ago, he said.
The company also said hourly wages will grow at a “faster” pace, increasing by 3 to 6 percent based on years of service, allowing workers to quickly reach the top pay rate for their given position.
As a result, Sam’s Club expects the average hourly rate for its workers to be more than $19, not including bonuses. The new pay plan will go into effect on Nov. 2.
“In an increasingly competitive retail landscape, attracting, hiring and, most importantly, retaining quality talent has become a true competitive advantage,” Sam’s Club said.
The department store chain, a rival to members-only retailer Costco, has seen sales growth in nearly every category in recent quarters after underperforming for years.
There are more than 600 Sam’s Club locations in the United States and Puerto Rico.
Walmart, which raised wages for its workers earlier this year, said Monday that its holiday hiring plans would be consistent with those of recent years. The retailer has hired about 40,000 seasonal workers in 2022.
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