Whole Foods CEO: Store managers could be making ‘well over $100,000,’ without a college degree

Discussion in 'Mayberry Lounge' started by TidWell, Nov 9, 2020.

  1. TidWell Steel Belt

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    Pretty good policy where everyone knows your salary, and the CEO feels it makes people motivated to climb the ranks. Some of you homeless sherbros who dont have a degree should try to get work at whole foods, trader joes or sprouts they are also fun work environments and you get discounts on the foods. I know whole foods has 20 percent off employee discounts and after 6 months employment you get 30 percent off.

    Whole Foods CEO John Mackey: Store managers could be making ‘well over $100,000,’ without a college degree

    At Whole Foods, every employee knows what everybody else is making. It’s a practice called “wage transparency.” The average pay of professional titles of employees is published on the Whole Foods website.

    Whole Foods CEO John Mackey thinks of wage transparency as a source of motivation for employees.

    “It gives people something to strive for,” Mackey told Freakonomics Radio host Stephen Dubner in an episode released Wednesday.

    According to Mackey, the idea is that employees think, ”‘Wow, I had no idea that a coordinator could get paid that much. I want to be a coordinator.’ Or, ‘I really want to be a store team leader, because I had no idea that including their RSUs — the restricted stock units they get from Amazon — I mean, they may be making well over $100,000.’ And if you don’t have a college degree, that’s something to aspire to,” he says.

    (The mean yearly income earned by male workers, 25 and older, with only a high school degree, was $45,971 in 2019, and $29, 261 for females, according to the Census Bureau.)

    Here are some average Whole Foods employee salaries, according to Whole Foods’ website. (Whole Foods has both hourly and salary employees, and most of the employees who work in stores are paid at an hourly rate.)

    “Team members,” which are employees working on the floor of a store and do things like stock shelves, cut meat, prepare food, or check out customers, make an average annual pay of $30,000.

    “Team leaders,” who are the employees in charge of a section of the store and train new employees, buy products and set pricing to determine profits, make $57,000 per year on average.

    “Associate team leaders,” who assist a team leader, make an average annual pay of $43,000.

    “Store team leaders,” or store managers, are paid an average of $99,000 per year.

    “Associate store team leaders,” who are “the right-hand” to store managers and are involved in everything from hiring and training to merchandising and logistics, according to Whole Foods, make $73,000, a year on average.

    The restricted stock units that Mackey referred (which are Amazon stock because the company bought Whole Foods for $13.7 billion in 2017) vest according to a pre-determined structure, either defined by years of employment or performance goals. Though distribution of stock units are not part of the compensation listed on the Whole Foods website, an internal email from Mackey leaked to Gizmodo in October 2018 stated that Whole Foods employees with more than 6,000 hours of “service” would receive a “one-time grant” of Amazon stock if they had not already been compensated with stock. (On Thursday, Amazon is trading at about $3,300 per share.)

    In addition to acting as incentive, Mackey says wage transparency has another important purpose: You can fix mistakes.

    “When you reveal a pay structure very transparently ... sometimes things aren’t just. And people will complain about it. And that gives you an opportunity to correct it,” Mackey told Dubner.

    “At other times, though, [the pay] is correct, and you can defend it. And then you’re pointing out to people what the organization most values and rewards.”

    Though statistics on private sector pay transparency can be hard to come by, according to a small study published in January by nonprofit association for human resources management World at Work and human resources consulting firm Mercer, only 14% of organizations have “significant” or “extreme” pay transparency. The study surveyed 478 companies (mainly located in the U.S.) in October 2019.

    Many companies “believe that [wage transparency] is going to stoke envy. So it’s better to try to keep it hidden. I believe envy can be a problem, but I think about it differently,” Mackey said.

    Full article
    https://www.cnbc.com/2020/11/05/ceo-john-mackey-on-how-much-you-can-make-working-at-whole-foods.html
     
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  2. FierceRedBelt Red Belt

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    Alright, who do I have to blow?
     
  3. Badger67 Taxidea taxus

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    They banned poppies. Fuck them.
     
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  4. Cherry Brigand We're gonna put some heat on 'em.

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    FEDOR FOREVER!
    So roughly 85k more than Tidwell makes?
     
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  5. Sickness1 Sickness Belt

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    Make that 95k a year
     
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  6. mrsenor Black Belt

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    Did the workers have their hours cut when bezos took over?
     
  7. Rhood Gold Belt

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    And people thought raising minimum wage would hurt the economy.......

    {<hhh]
     
  8. nostradumbass Steel Belt

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    What does this have to do with minimum wage? It says "team members" make an average of $30k. If every store was as expensive as whole foods, $30k would be poverty.
     
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  9. Jack&Cat Green Belt

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    Poppies?
     
  10. Jesus X Hunter eyes

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    I find it hard to believe that a store manager makes like 9,000 or more bucks a month.
    <DontBelieve1>

    I am to believe that they make like 50 bucks an hour
    <YeahOKJen>
     
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  11. Jesus X Hunter eyes

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    that 30 k is probably before taxes.
     
  12. Big Brain you poor fools

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    beyond comprehension
    they work slave hours

    first job as a teenager was at trader joes...i remember them telling me "you can make as much as a college professor and come to work in shorts"...i also remember them telling me "legally, you only need to be off the clock for 6 hours"

    now i'm a college professor and only work a few hours a week, full-time lol
     
  13. TidWell Steel Belt

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    What is the purpose of your reply?
     
  14. nostradumbass Steel Belt

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    And whole foods are all clustered in the highest tax, most expensive cities. Like 200 of the 500 stores are in California, Boston, NYC, Chicago and Northern NJ. Have fun with $30k in NYC.
     
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  15. Jesus X Hunter eyes

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    I think he will just start using workers from temp agencies he is already doing that in his warehouses here in Hawaiian gardens and the I.E. temp workers don't have to be paid the same an hour or even get benefits and can be fired with zero notice.
     
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  16. TidWell Steel Belt

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    But they get 30 percent off all foods at Whole Foods!!!! lol
     
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  17. FierceRedBelt Red Belt

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    Lol God damn it. Should have picked up that PhD. I thought they all killed themselves doing research?
     
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  18. Wet Blanket Cultural globalist yt from Canada.

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    That's a pretty decent pay structure.
     
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  19. Anung Un Rama Idol of Millions Platinum Member

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    They e salary, so they can work ~60h/ week and they can get huge bonuses if their store does well.
     
  20. Big Brain you poor fools

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    i just fudge the numbers and make it sound "right"...but, in all honesty, if "academic" work isn't one's strength, it can be a real mountain to climb...school was always easy for me so i went that route

    if you want to make serious money, however, go another route...the free time is the best part of my job for sure
     
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