Why Walmart Wants To Snag College Graduates For 6-Figure Salaries
This summer, retail giant Walmart is creating a new talent pipeline for new college graduates, who will need to bring their recent degree and positive personality to the table.
It is known that the consumer goods company is one of the largest employers in the United States (via Disfold). Not to mention, it provides a wealth of benefits for its corporate employees, including gym memberships and a "401(k) plan with a 6% match," according to its website. However, Walmart employees also have to deal with difficult customers and unhappiness with management. Some employees have taken to Reddit about challenges they've faced with the latter.
One user, @Lark_vi_Britannia, commented on a Reddit thread titled, "Why is Walmart known for bad management?" that "the manager never properly learns how to be an Assistant Manager because the store processes are so [effed] up that an entire day is spent doing notes and putting out fires instead of touring departments with department managers and making your areas better."
Notably, the company's new College2Career program not only seeks to bring in new talent with a view toward training them to become managers down the line.
Walmart's new program has high earnings for new grads
New grads who have received their diploma within 12 months of graduating are eligible for Walmart's new College2Career program. As a part of their role, these employees will gain experience through classroom training, coaching from mentors, and in-store interactions to become "a salaried member of management at a local store" (via Walmart's website). Participants will start with a base salary of $65,000 per year. Furthermore, the company predicts that as these new grads continue to learn and develop in their roles, this wage can grow to as much as $210,000.
Some economists praise the corporate giant for this new program, for both the company and new grads. Bill Murphy Jr. of Inc., emphasizes that unemployment is at a low. In fact, The Denver Post reported in October 2021 that unemployment claims had decreased consistently, falling from around 900,000 in January of that year all the way down to 290,000. According to Murphy, "Simply by promising stability, growth, and significant financial rewards, Walmart makes a pretty intriguing sales proposition here." In the midst of an unpredictable job market, Walmart's new recruiting program may be aiming to capitalize by offering a steady path to college grads.