U$A
Here's how much the typical worker makes at 19 retail companies, from Amazon to WalmartDominick Reuter
Sat, March 4, 2023
America's biggest public companies have to disclose their workers' median annual salary.Noah Berger/Reuters
Retail employers like Walmart and Target are spending big bucks to hire and retain workers.
SEC rules require publicly traded companies to disclose their workers' median annual pay.
Here's what the median worker gets paid at 19 retail companies, from lowest to highest.
Retail workers have seen their hourly wages increase substantially in the last several years.
Major employers like Walmart, Target, Home Depot, Lowe's, and more have plowed billions of dollars into pay increases in a bid to get workers to join their workforces — and stay.
Ever since Amazon set its minimum wage to $15 in 2018, more retailers have followed suit by offering starting wages worth more than double the national minimum wage of $7.25. The Federal minimum was last set in 2009.
But hourly wages are just one part of the pay equation. An employee's earnings also depend a lot on how many hours they work, and hours in the retail business can vary considerably, especially in seasonal segments.
To get a picture of what the typical worker makes in a year at various retail brands, Insider looked through the most recent proxy filings that publicly traded companies must file with the US Securities Exchange Commission. Rules following the financial crisis of 2008 require public companies to calculate their median worker's annual salary in order to compare it to the CEO's compensation.
Scroll through below to see where 19 of the largest companies rank, from lowest to highest annual pay.
Hillary Hoffower contributed to an earlier version of this story.
ANNUAL SALARY IN U$D
19. Gap: $7,348
Justin Sullivan/Getty Images
The 2021 calculation is up from $5,375 in 2018, and the company says its median employee was a part-time sales associate in Canada who did not work the full year.
18. McDonald's: $8,897
Justin Sullivan/Getty Images
The burger giant's median is up from the 2018 level of $7,017, and it says the 2021 median worker is a part-time restaurant crew member in the UK.
17. Foot Locker: $12,135
Phil Long/AP Photos
The shoe retailer's pay is up from 2018's median of $8,554, and the company says its median worker in 2021 averaged 17 hours per week in a Fresno, California store.
16. Starbucks: $12,254
AP Photo/Seth Wenig
Starbucks considers its median employee to be a part-time barista in the United States.
15. Ulta: $13,403
Jean-Marc Giboux
Ulta identifies its median employee by ranking all 43,986 associates from high to low by total cash compensation and selecting the middlemost one. In 2018, the company added in the value of employer paid health care benefits, which it does not say that it did for 2021. The 2021 median is down to less than half of the 2018 median of $27,235.
14. TJX: $14,139
Paul Morigi/Shutterstock
TJX Companies — which include TJ Maxx, Marshalls, and others — increased its median pay in 2022 from 2018's level of $11,243.
13. Chipotle: $15,811
A Chipotle ordering bar.Chipotle
Chipotle's median worker is an hourly part-time employee who works roughly 25 hours per week at one of our restaurants in Kansas.
12. Lowe's: $22,697
Joe Raedle/Getty Images
Lowe's includes full-time and part-time employees to determine the median employee and considers actual base salary, bonus or commission paid, and any overtime. Its 2021 rate is down from the 2018 level of $23,905.
11. Target: $24,535
A Target employee restocks shelves on January 5, 2011 in Miami, Florida.Joe Raedle/Getty Images
Target annualizes the pay of all full- and part-time employees, but takes only the actual earnings of seasonal and temporary workers to find the median for the whole workforce.
10. Advance Auto Parts: $24,960
19. Gap: $7,348
Justin Sullivan/Getty Images
The 2021 calculation is up from $5,375 in 2018, and the company says its median employee was a part-time sales associate in Canada who did not work the full year.
18. McDonald's: $8,897
Justin Sullivan/Getty Images
The burger giant's median is up from the 2018 level of $7,017, and it says the 2021 median worker is a part-time restaurant crew member in the UK.
17. Foot Locker: $12,135
Phil Long/AP Photos
The shoe retailer's pay is up from 2018's median of $8,554, and the company says its median worker in 2021 averaged 17 hours per week in a Fresno, California store.
16. Starbucks: $12,254
AP Photo/Seth Wenig
Starbucks considers its median employee to be a part-time barista in the United States.
15. Ulta: $13,403
Jean-Marc Giboux
Ulta identifies its median employee by ranking all 43,986 associates from high to low by total cash compensation and selecting the middlemost one. In 2018, the company added in the value of employer paid health care benefits, which it does not say that it did for 2021. The 2021 median is down to less than half of the 2018 median of $27,235.
14. TJX: $14,139
Paul Morigi/Shutterstock
TJX Companies — which include TJ Maxx, Marshalls, and others — increased its median pay in 2022 from 2018's level of $11,243.
13. Chipotle: $15,811
A Chipotle ordering bar.Chipotle
Chipotle's median worker is an hourly part-time employee who works roughly 25 hours per week at one of our restaurants in Kansas.
12. Lowe's: $22,697
Joe Raedle/Getty Images
Lowe's includes full-time and part-time employees to determine the median employee and considers actual base salary, bonus or commission paid, and any overtime. Its 2021 rate is down from the 2018 level of $23,905.
11. Target: $24,535
A Target employee restocks shelves on January 5, 2011 in Miami, Florida.Joe Raedle/Getty Images
Target annualizes the pay of all full- and part-time employees, but takes only the actual earnings of seasonal and temporary workers to find the median for the whole workforce.
10. Advance Auto Parts: $24,960
Mike Mozart/Flickr/Some rights reserved
Advance Auto Parts includes all team members in their analysis of the median employee, including part-time, full-time, and seasonal team members. The 2021 level is up from $18,460 in 2018.
9. Walmart: $25,335
Joe Raedle/Getty Images
Walmart uses statistical sampling to identify a group of associates paid within a range of .5% of the company's median earnings amount, and then chooses the median compensated associate from that group. Its 2021 median was up from $19,177 in 2018.
8. Nordstrom: $26,479
Elaine Thompson/AP Photos
Nordstrom included full-time, part-time seasonal, and temporary employees to identify the median employee and says roughly half of its workforce is part-time or seasonal. The 2021 median is down from $30,105 in 2018.
7. Kroger: $26,763
UNIONISED
Kroger
Kroger's median employee is a part-time associate in the Midwest region, and more than half of its associates are part-time workers.
6. Macy's: $28,037
Kena Betancur/Getty Images
More than half of Macy's workforce is comprised of part-time or seasonal employees, and the company estimates its median based off of all employees other than the CEO. The 2021 median more than doubles 2018's median of $13,810.
5. Home Depot: $28,697
Rick WIlking/Reuters
Home Depot bases its median on its total workforce and says the median-paid associate was an hourly employee in the US. The 2021 median is up from $21,095 in 2018.
4. Best Buy: $29,999
PATRICK T. FALLON/AFP via Getty Images
3. Albertson's: $31,781
Kroger
Kroger's median employee is a part-time associate in the Midwest region, and more than half of its associates are part-time workers.
6. Macy's: $28,037
Kena Betancur/Getty Images
More than half of Macy's workforce is comprised of part-time or seasonal employees, and the company estimates its median based off of all employees other than the CEO. The 2021 median more than doubles 2018's median of $13,810.
5. Home Depot: $28,697
Rick WIlking/Reuters
Home Depot bases its median on its total workforce and says the median-paid associate was an hourly employee in the US. The 2021 median is up from $21,095 in 2018.
4. Best Buy: $29,999
PATRICK T. FALLON/AFP via Getty Images
3. Albertson's: $31,781
UNIONISED
REUTERS/Fred Prouser/File Photo
Albertson's says its median worker is a full-time hourly employee.
2. Amazon: $32,855
Pablo Blazquez Dominguez/Getty Images
Amazon considers all full-time, part-time, and temporary employees worldwide, except for CEO Andy Jassy, when calculating its median compensation. The company's 2021 median is up from 2018's level of $28,466.
1. Costco: $45,450
REUTERS/Fred Prouser/File Photo
Albertson's says its median worker is a full-time hourly employee.
2. Amazon: $32,855
Pablo Blazquez Dominguez/Getty Images
Amazon considers all full-time, part-time, and temporary employees worldwide, except for CEO Andy Jassy, when calculating its median compensation. The company's 2021 median is up from 2018's level of $28,466.
1. Costco: $45,450
UNIONIZED
John Gress/Reuters
Costco's calculations include full-time, part-time, seasonal, and temporary employees, and use a combination of salary, bonus, equity compensation, and other measurable benefits paid during the year.
Read the original article on Business Insider
John Gress/Reuters
Costco's calculations include full-time, part-time, seasonal, and temporary employees, and use a combination of salary, bonus, equity compensation, and other measurable benefits paid during the year.
Read the original article on Business Insider
No comments:
Post a Comment