The $128K job as a...Walmart store manager?

Hey there! Hannah here. Tomorrow, I’m hosting a virtual conversation with Hire Women Week on understanding (and applying!) salary transparency policies at the job. We’ll cover:

✔️ Practical ways to pitch salary transparency to your organization

✔️ How salary transparency benefits employee satisfaction & company culture

✔️ …and tons more!

Can’t wait to see you January 24 at 11:30 AM!

 1   DC to require pay transparency starting this June 🙌

The nation’s capital is joining #teamtransparency. Washington, DC will start requiring pay ranges in job descriptions—joining states like California, Colorado, and Rhode Island—Bloomberg reports. 

• The Deets: Employers will have to list the minimum and maximum salary ranges or hourly pay, alongside employee benefits (healthcare, bonuses, etc). Oh, and employers can’t ask a candidate about their previous wages.

This legislation was needed like…yesterday. Full-time working women in DC earn, on average, $15,978 less annually than their male counterparts. Meanwhile, Black women earn just 52 cents for every dollar earned by the average white man. 

Heads Up: Mayor Muriel Bowser signed the law on January 12, but it still needs to undergo Congress’ 30-day review before going into law. If all goes well, expect to see it go live on June 30. 

• P.S. - The STS team testified in support of this bill last year. We’re thrilled to see it pass and positively impact thousands of lives!

• P.P.S. – Do you know your state’s transparency laws? Our interactive map will give you the answer, stat. 

 2   “No spend challenges” take TikTok by storm 🌪️

Have you heard of the “No Spend Challenge?” To curb overconsumption, people are challenging themselves to not spend any money on non-essentials for an entire month. The #nospendjanuary tag has 51.5 million views on TikTok alone. 

It’s not hard to see why being #frugal is hot right now. Since 2020, the price for groceries has spiked 25%, while rent has risen 20%. As the cost of living skyrockets, people are eager to cut their spending. This challenge helps people regain a sense of control over their finances in an uncertain economic landscape.

• Zoom Out: While the challenge is just a month long, its effects are lasting: “It’s made me think harder about a purchase decision and ask myself, ‘Do I really need this?’” says TikToker Matilda Relefors. 

 3   Walmart managers can now earn up to $128K 💰

Looking for a six-figure salary? Sure, you could go into medicine, technology, or…you could become a store manager at Walmart. The retailer announced last Thursday that it’s bumping managers' annual salaries by 9%, up to $128,000. 

• Bonus: Walmart is also redesigning its store manager bonus program. If managers hit their targets, they’re eligible for a bonus of up to 200% of their base salary.

But, let’s not forget: The company lowered pay for new hires in certain roles last July. Employees who pack online orders and stock shelves earn $1/hour less than they would have if they joined just a few months earlier.

Meanwhile, Walmart’s CEO, Douglas McMillon, made $24.1 million in 2023. That’s 933 times the median salary of a Walmart employee.

In 2023, the STS team interviewed hundreds of people nationwide. But who among them had the highest-paying salaries? 

This video has your answer. It features the 14 people who hit that coveted six-figure salary (and sometimes beyond), ranging from nurse anesthetists to finance influencers. 

Here’s a challenge for you before you dig in: Who earned what? Answers revealed below! 

• STS was featured in The Washington Post! This feature dives into how we built a seven-figure business and exactly where that money comes from.

• How a product manager earning $80,000 in Washington, DC started her career. 

• The wild, lucrative world of football coaching (Bill Belicheck made $25 million in 2023). 

• The 25 fastest-growing jobs in the US, according to LinkedIn. 👀

• Siggis is paying $10,000 for people to write an essay about…digital detoxing?

Thanks for being here! Before we part ways, enjoy this comic on an all-too-relatable occurrence: 

And to think…it could all be avoided by listing the salary range up front. 🧐

See you next week! 

^{Answers: The finance influencer (shout-out to Your Rich BFF!) paid herself a salary of $300K. Meanwhile, the person in healthcare technology made $230K last year. The cardiac anesthesiologist has the highest salary of anyone we’ve ever interviewed, raking in $700K a year!}