In a bid to attract and retain employees, Sam’s Club is now offering lucrative wages and compensation packages for all of its full-time employees. Not only has their minimum salary been increased to $15 an hour, but Class A driver salaries have also been increased to $105,000 a year. The move has everything to do with inflationary wage pressure created by a lack of qualified employees across the country. With over 11.5 million jobs unfilled throughout the United States, employers across the country are being forced to either increase salaries or shutter operations. Sam’s Club is doing its part to stay competitive in the current market by offering these new, higher salaries. This will no doubt help them keep their shelves stocked and customers happy. On their website, Sam’s promises their regional Class A truck drivers somewhere between 1800 and 2200 miles per week (truck drivers are usually paid by the number of loaded miles they drive).
This move follows a recent announcement by Sam’s Club’s sister company, Wal Mart, which also announced a $12 an hour minimum salary across the United States. Since Wal Mart has more locations in rural areas, it’s able to keep minimums below the $15 mark, however, they are struggling to keep salaries on the low end in some of the more competitive labor markets. Wal Mart has also been working on increasing their driver salaries, but they have not yet released any specific numbers.
The tight labor market is a boon for hourly workers who have seen low salaries for decades. With starting hourly pay of $15, Texas workers may never again have to accept the current state minimum wage of $7.25/hour. While Sam’s Club salaries are now competitive, they may have to continue adding to their average hourly rate as employees move between jobs, accepting higher and higher salaries. Only time will tell how this new Sam’s Club wage will impact their bottom line.
