Walmart Store Managers Average Income $175k+

[Cold Front]

This story caught my (and many people’s) attention. Large corporations have been paying key store employees a lot of loot. This is not to compare general dentistry’s $200k average income to those jobs - but it’s an interesting insight nonetheless from salary and income perspective.

My local Chipotle store manager told me he easily makes 6 figures. Costco pays $200k+ as well and many other retailers. These corporations are making bank with their growth under strong economy, so there is always a demand for $200k jobs in their stores - and there is no $300-800k student loans involved. 75% of Walmart store managers started as a cashier or store employees.

Dollar store managers pay very well as well. Every 6 hours, a dollar store opens in this country. There are now more dollar stores than Walmarts, CVSs and McDonalds combined.

Walmart says its US store managers make an average of $175,000 a year

On Wednesday, Walmart released its first Environmental, Social and Governance Report, disclosing the average salary of U.S. store managers and how much hourly workers make by comparison.

www.cnbc.com

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[2TH MVR]

I read that also. Good to see that a person can still make decent money without having to attend expensive doctorate programs.

 

[omfsing]

Aren’t we aiming for seven figures?

 

[Cthuluhoop]

Let’s just remind ourselves that the traditionally touted “six figure income” really is 300k+ these days

Isn't $300k+ (pre-tax) in the top 3% of earners in the US? While I don't think $100k is the figure anymore, I find it difficult to believe that is the new six figure income

 

[DK0828]

Those managers work 100+ hours a week and deal with Walmart workers and Walmart customers. NO THANKS. They are paying a steep price for their salary.

 

[AppalachianDentalBoy]

I worked at target in HS. The store manager made six figures but was always there. 80 hours per week, minimum.

 

[princeafrica]

Walgreens store manager makes $50,000 lol

 

[ab117]

Those managers work 100+ hours a week and deal with Walmart workers and Walmart customers. NO THANKS. They are paying a steep price for their salary.

I worked at target in HS. The store manager made six figures but was always there. 80 hours per week, minimum.

Yeah there’s the catch haha.

 

[2TH MVR]

Isn't $300k+ (pre-tax) in the top 3% of earners in the US? While I don't think $100k is the figure anymore, I find it difficult to believe that is the new six figure income

My pre-tax tax salary is adequate. But after they remove: federal income tax, state income tax, social security contribution, medicare, 20% 401K contribution, healthcare with vision insurance ..... well .... you get the picture.

 

[Cold Front]

My pre-tax tax salary is adequate. But after they remove: federal income tax, state income tax, social security contribution, medicare, 20% 401K contribution, healthcare with vision insurance ..... well .... you get the picture.

What’s a 20% 401k contribution?

 

[Cold Front]

Those managers work 100+ hours a week and deal with Walmart workers and Walmart customers. NO THANKS. They are paying a steep price for their salary.

The world is evolving. There won’t be store managers at grocery stores in the future, IMO.

Amazon just opened a “cashier free” grocery store in New York City few days ago. They will open 3,0000 of these stores by next year, essentially forcing the competition to eventually do the same and kill the cashier job for good in the future. With no cashiers, there are fewer employees to manage, and eventually fewer and fewer store managers needed. Amazon owns the largest organic grocery store in the world, Whole Foods - and they will also make those stores cashier-free as well down the road.

Jeff Bezos bought a prescription company last year, and will enter the pharmacy prescription industry very soon. He has his eyes on dental supplies industry as well, and plans to go after dental suppliers like Henry Schein, Benco, Patterson and so on. My curing light died the other day, Henry Schein said they can give me one for $700, but out of no where, I received an email from amazon with recommendations for a curing light - I bought 2 for $50, and arrived next day. This is the future and its here now.

Amazon Go opens for the first time in New York. And the cashier-free store will accept cash

Amazon Go at Brookfield Place in New York will also start accepting cash, Amazon said, after the company faced some backlash over "discrimination" concerns.

www.cnbc.com

 

[Cold Front]

Walgreens store manager makes $50,000 lol

Comparing apples to oranges.

As an example, CVS is bigger than Walgreens, and sees about 80 million customers a year. Walmart sees double that figure in customers a year. Walmart processes about $40M in sales an hour... so store managers at Walmart work at a different level than pharmacy chains.

 

[2TH MVR]

What’s a 20% 401k contribution?

I donate 20% of my check to my 401lK. Just trying to maximize additional retirement funds.

As for Bezos. The Earth as we know it is not enough. It's only a matter of time when Amazon sets up it's global headquarters on the moon.
Not sure why Musk is so into Mars. The moon seems more doable.

 

[Cold Front]

I donate 20% of my check to my 401lK. Just trying to maximize additional retirement funds.

How long have you been contributing to 401k? I started my contribution last year after many years of delays... my wife and I are maxing out our 401k’s (hopefully) for the next 25 years, and will try to go beyond the limit with the office profit sharing program, and the additional $6k a year per person at age 50 and beyond. I still feel so behind with all this. lol

 

[Cold Front]

As for Bezos. The Earth as we know it is not enough. It's only a matter of time when Amazon sets up it's global headquarters on the moon.
Not sure why Musk is so into Mars. The moon seems more doable.

Amazon is so fascinating to me. It has not only been continuously adding household products to its marketplace, but has also been establishing its own brands for things like batteries, toilet paper, light bulbs and towels. As delivery times come down to “one day” for Prime members, what's the point of ever driving to your neighborhood grocery or convenience stores?

Amazon is growing at the equivalence of about 8,000 new retail stores a year. There is a mini-retail store Armageddon happening now across the country. Majority blame Amazon! lol. I think Amazon will be broken up eventually, Europe is already doing that.

 

[deleted659902]

Not sure why Musk is so into Mars. The moon seems more doable.

dihydrogen monoxide

 

[321931]

While I am bullish on Amazon in general- I do feel for the small local business retail owner. You may say "get with the times" and those are being phased out and who cares about the little guys....

But: JP Morgan, Berkshire Hathaway, and Amazon have already announced an initiative for healthcare that may expand further. Who knows how they come up with their insurance plan but if it does effect the overall market- and Amazon has a GREAT track record of disruption- then small business dentists, optometrists, physicians may start to feel the hurt.

So bottom line: save your money because while dentistry is good today- it can change tomorrow. So every year max out 401k with wife is a given, sock away money in money market funds and keep on treading water while the times are good.

 

[Cold Front]

Yes, Dentistry is changing quicker than anyone expected. Insurance companies like Guardian and Dentaquest are buying multiple practices... can you imagine insurance companies being the employer and the insurance/payer for dentists? Less power to the dentists in the long run. So yes, lookout!

Apple is another company that’s ridiculously growing like Amazon. Apple buys a new company every other week. I honestly believe these large corporations will come for the health industry - including dentistry, eventually. We are just watching their reach unfold, and maybe 5-10 years away from a large dental group being picked up by one of the FAANG companies. Economic expansion promotes aggressive acquisitions.

 

[321931]

Yes, Dentistry is changing quicker than anyone expected. Insurance companies like Guardian and Dentaquest are buying multiple practices... can you imagine insurance companies being the employer and the insurance/payer for dentists? Less power to the dentists in the long run. So yes, lookout!

Apple is another company that’s ridiculously growing like Amazon. Apple buys a new company every other week. I honestly believe these large corporations will come for the health industry - including dentistry, eventually. We are just watching their reach unfold, and maybe 5-10 years away from a large dental group being picked up by one of the FAANG companies. Economic expansion promotes aggressive acquisitions.

The healthcare industry is ripe for disruption. Apple is expanding and so is amazon. It’s a trillion dollar business that is just asking to disrupted from the monopolies of insurance companies that are getting flack from the democrats and Washington congressional hearings.

Who knows what will happen. Maybe more transparent pricing. Maybe a new model where you pay as you use. Maybe reimbursement is cut 50% maybe it’s not cut at all maybe a raise.

Either way healthcare will change and it’s crucial to be up to date and evolve as a small business to the times. If that means opening more... then good, maybe a concierge ffs practice that focuses on sleep apnea or tmj or cosmetic... (but those tend to be few and far in between) and if it means even closing shop and working for a small Corp then so be it.

 

[2TH MVR]

How long have you been contributing to 401k? I started my contribution last year after many years of delays... my wife and I are maxing out our 401k’s (hopefully) for the next 25 years, and will try to go beyond the limit with the office profit sharing program, and the additional $6k a year per person at age 50 and beyond. I still feel so behind with all this. lol

Did the profit sharing plan in private practice for 24 years. At the time it was the perfect way to put away pre-tax money and establish an investment for the staff and myself. As you maybe aware ... the staff was vested dependent on how long they were under my employ. I believe after 2 yrs ... they were 20% vested. And so forth. The staff contributed nothing. Essentially free money for them as long as the practice was doing well. Not sure the conventional profit sharing plan is still viable in today's economy. Has to be ran (with their ridiculous fees and regulations by the govt) by a 3rd party administrator. The bulk of my retirement investments were the result of this PSP.

After selling the practice two yrs ago .... the PSP was terminated (took 2 yrs, more fees). The vested employees were allowed to cash out with penalty or move their funds to their own retirement accts. My money was placed into an individual retirement acct amonst my other investment accts.

The Corp I work with has an office 401K. The cheap bastards do not match any of my contributions. Since my wife and I are in our 50's .... I like to contribute as much as I can for a pretax writeoff and to continue bulking up the retirement fund.

As for you Dr. Cold Front. Sounds like you'll be OK.

 

[Cold Front]

The healthcare industry is ripe for disruption.

Who knows what will happen. Maybe more transparent pricing. Maybe a new model where you pay as you use. Maybe reimbursement is cut 50% maybe it’s not cut at all maybe a raise.

Either way healthcare will change and it’s crucial to be up to date and evolve as a small business to the times.

Corporations are working together in some cases to change healthcare. For example, pharmaceutical companies are price fixing generic antibiotics and anti-fungal medications. They are essentially raising prices as a cartel and cornering the market at the expense of the government (Medicare and Medicaid), and pushing patients to pay unrealistic cost, when it should be the opposite. I think this is going to happen in dentistry, where corporate dentistry will be colluding with dental insurances in price fixing under the Umbrella ownership. It may sound this is outrageous claim - a simple research can unfortunately show anyone this is happening already.

 

[Mad Jack]

You couldn't pay me enough for that headache. Retail management isn't a 9-5 job, my old GM when I worked retail put in 70-90 hour weeks to keep his head off a pile because he was ultimately very replaceable

 

[Cold Front]

Did the profit sharing plan in private practice for 24 years. At the time it was the perfect way to put away pre-tax money and establish an investment for the staff and myself.

The Corp I work with has an office 401K. The cheap bastards do not match any of my contributions. Since my wife and I are in our 50's .... I like to contribute as much as I can for a pretax writeoff and to continue bulking up the retirement fund.

As for you Dr. Cold Front. Sounds like you'll be OK.

My accountant is in his mid-70s and he kept contributing to his 401k pre-tax until the law allowed him - at age 70.5, then he had to withdraw 4% by law. You and your wife can keep doing that too, and may also wait to max Social Security at age 70.5 as well. With another 20 years of contributing, you guys will be OK too!

 

[2TH MVR]

Middle management does suck. Stuck in the middle between employees who just want to get by and Corp setting unrealistic expectations. These individuals should be paid well.