Walmart Truck Driver Pay 2019: New Hires to Earn Nearly $90K

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Walmart (NYSE:WMT) is making changes as the company announced that it will increase the salary of its truck drivers starting next month.

walmart truck driver pay

The retail giant said that it will raise its truck driver pay to nearly $90,000, with most new hires earning roughly $87,500 a year as the chain is hoping to fill the hundreds of workers it needs to fill its fleet. The wages bump will be in effect starting on February of 2019.

Walmart added that it hired more than 1,400 new drivers in 2018, but this figure is not enough as close to two-thirds of the country’s freight is transported by truck, resulting in consumer demand for Walmart’s trucks increasing last year. The chain’s same-store sales were up by 3% during 2018, but the company still needs more new drivers to keep it running moving forward.

The idea of becoming a truck driver for the company just became more attractive than ever as most of the chain’s drivers will be making roughly twice as much as your average tractor-trailer truck drivers across the U.S., who have a median annual wage of $44,500 per year, according to the Bureau of Labor Statistics.

Plus, only about 10% of truckers are garnering more than $64,000 in wages every year. Being a Walmart truck driver also gets you three weeks of paid time-off on your first year, as well as quarterly bonuses for safe driving. Plus, they also get two days a week at home, which is rare in the truck driving world.

WMT stock is sliding a fraction of a percentage on Monday following the news.


Article printed from InvestorPlace Media, https://investorplace.com/2019/01/walmart-truck-driver-pay/.

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