Walmart's CEO made 976 times the median employee's pay last year

Dominick Reuter
Updated ·2 min read
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  • Walmart CEO Doug McMillon received $26.9 million in total compensation last fiscal year.

  • The median compensation for Walmart employees was $27,642, per the company's annual proxy statement.

  • Since 2009, McMillon has been paid $136 million for his work as a Walmart executive.

The CEO of the world's largest company just had another very good year.

Walmart's Doug McMillon received $26.9 million in total compensation last year, up $1.6 million from the year before, according to the company's annual proxy statement filed Thursday with the SEC.

The pay package consisted of $1.5 million in base salary, $19.6 million in stock awards, and $5.8 million in other compensation.

It's a sizable pay increase from his first job for the retailer in 1984, where he unloaded trucks for $6.50 an hour — about $19.79 in today's dollars.

The 57-year-old Arkansas native is now in charge of 2.1 million workers and more than 10,000 retail locations around the world. Walmart's annual revenue amounted to $648 billion last year — that's more people and higher sales than any other private employer in the world.

Walmart's median employee was paid $27,642 last year, up 1.8% from the previous year. McMillon's compensation is 976 times that amount.

By comparison, Target CEO Brian Cornell's most recently disclosed compensation package was $17.6 million, while Craig Jelinek made $16.8 million in his final year as Costco's CEO. They made 680 and 336 times more than their median employee, respectively.

Under a new calculation that companies are required to disclose to the SEC, McMillon's net worth grew by nearly $47.5 million last year after adjustments to recognize the fair value of his stock awards.

Since 2009, Walmart has paid McMillon nearly $163 million. Before becoming CEO in 2014, McMillon was in charge of the corporation's international division from 2009 to 2014 and was the head of Sam's Club from 2005 to 2009.

McMillon now owns more than 5.1 million shares of Walmart stock, worth $306 million at Friday's closing price.

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