Walmart's CEO Says He's Just Another Associate—Except He Makes $9.56 Million a Year

Analyzing the top news stories across the web
June 5 2014 8:06 AM

Walmart's CEO Says He's Just Another Associate—Except He Makes $9.56 Million a Year

176560632-the-walmart-logo-is-displayed-on-a-shopping-cart-at-a
A place for millionaires?

Photo by Scott Olson/Getty Images

This post first appeared on Business Insider.

Walmart's CEO made about $10 million last year, but he's just another "associate," he says.

Advertisement

Doug McMillon, Walmart's president and CEO, was giving an interview at the Code Conference in Southern California on Wednesday.

During a question-and-answer session with audience members, Bloomberg Businessweek's Brad Stone asked McMillon what he was doing to make life better for Walmart's million-plus retail employees, also known as "associates."

McMillon answered by saying that he's also an "associate."  

"I'm one of them," he said, reminding everyone that he used to work in a store and in a warehouse.

McMillon said that Walmart pays its people pretty well.

Walmart has 1.3 million associates; 30,000 of them make the minimum wage.

McMillon also said that, more than wages, Walmart provides "opportunity." Employees can join and move up into higher-paying positions, McMillon said. He said the average wage for managers is $150,000.

He said that one challenge is that Walmart has some employees who "want to join and be a cashier for a long time."

McMillon also said that Walmart is concerned about the economic situation of its customers: "these last few years, the average customer in our stores has felt pressure, living paycheck to paycheck ... What we do is try to help them save money."

Nicholas Carlson is chief correspondent at Business Insider. Follow him on Twitter.

TODAY IN SLATE

Politics

Don’t Worry, Obama Isn’t Sending U.S. Troops to Fight ISIS

But the next president might. 

IOS 8 Comes Out Today. Do Not Put It on Your iPhone 4S.

Why Greenland’s “Dark Snow” Should Worry You

How Much Should You Loathe NFL Commissioner Roger Goodell?

Here are the facts.

Amazon Is Launching a Serious Run at Apple and Samsung

Television

Slim Pickings at the Network TV Bazaar

Three talented actresses in three terrible shows.

Foreigners

More Than Scottish Pride

Scotland’s referendum isn’t about nationalism. It’s about a system that failed, and a new generation looking to take a chance on itself. 

The Ungodly Horror of Having a Bug Crawl Into Your Ear and Scratch Away at Your Eardrum

We Could Fix Climate Change for Free. Now There’s Just One Thing Holding Us Back.

  News & Politics
Weigel
Sept. 17 2014 7:03 PM Once Again, a Climate Policy Hearing Descends Into Absurdity
  Business
Business Insider
Sept. 17 2014 1:36 PM Nate Silver Versus Princeton Professor: Who Has the Right Models?
  Life
Outward
Sept. 17 2014 6:53 PM LGBTQ Luminaries Honored With MacArthur “Genius” Fellowships
  Double X
The XX Factor
Sept. 17 2014 6:14 PM Today in Gender Gaps: Biking
  Slate Plus
Slate Fare
Sept. 17 2014 9:37 AM Is Slate Too Liberal?  A members-only open thread.
  Arts
Brow Beat
Sept. 17 2014 8:25 PM A New Song and Music Video From Angel Olsen, Indie’s Next Big Thing
  Technology
Future Tense
Sept. 17 2014 9:00 PM Amazon Is Now a Gadget Company
  Health & Science
Jurisprudence
Sept. 17 2014 4:49 PM Schooling the Supreme Court on Rap Music Is it art or a true threat of violence?
  Sports
Sports Nut
Sept. 17 2014 3:51 PM NFL Jerk Watch: Roger Goodell How much should you loathe the pro football commissioner?