Costco store managers' 'surprising' 6-figure salaries revealed
Watch out, Walmart — Costco is trying to give its rival retail giant a run for its money (literally) when it comes to paying some of its top store managers.
Roughly a week after Walmart shared in a new report that its U.S. store managers are taking home an average of $175,000 a year, Reader's Digest resurfaced just how much Costco is shelling out in comparison. And the publication says its findings are pretty "surprising."
According to Glassdoor, general managers at the chain get an average base pay of over $106,000. Overall, their salaries range from nearly $50,000 to $180,000. Meanwhile, warehouse managers make between $52,000 to $146,000 each year, while assistant managers typically take in around $85,000.
But, as Reader's Digest points out, these totals don't even include the various benefits the employees enjoy throughout the year including bonuses, stocks and commission which can tack on an additional $8,000 or so annually.
"Salary and benefits are great for the industry ... great culture," a full-time Costco employee, who has been working at the company in Virginia for more than a decade, commented on Glassdoor's review. "[The company's] adaptive to growth and innovation as shoppers turn online for groceries."
Glassdoor named Costco one of the best places to work in 2019 after a year hiatus off the list.
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In June 2018 the wholesale retailer announced it was raising its minimum wage to $14 per hour from $13 and this past March management boosted that rate to $15.00-$15.50, as noted by CFO Richard Galanti on the company's March earnings call.
In comparison, Walmart and Target pay $11 and $13, respectively.
Costco pays employees some of the highest wages among U.S. retailers — with the average hourly salary of $22.50.
Fox Business' Jade Scipioni contributed to this report.
*The article was updated to reflect Costco's 2019 hourly pay hike.