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Walmart increases wages for Pharmacists and Opticians

By Nithya Bose in US business news, posted June 2, 2023

Walmart is raising wages for 7,700 pharmacists and opticians to expand its health business and retain employees in a competitive market.

The hike will bring the average annual salary for affected pharmacists to over $140,000, while opticians can expect an average hourly wage of more than $22.50.

However, the big box retailer did not disclose the current salary rate as it varies based on location and role.

The move aims to align pay with industry standards, as the Bureau of Labor Statistics reports a mean annual wage of $129,410 for pharmacists and a mean hourly wage of $21.58 for opticians.

Walmart plans to introduce a program allowing Vision Center associates to obtain certification and licensing for higher-paying positions.

Brian Setzer, Walmart’s executive VP of health and wellness, said: “We’ve listened to our associates and taken their feedback about how their work environment needs to improve.”

This year, the firm has been raising wages for workers throughout its business as part of its strategy to attract and retain talent in a competitive labor market.

In January, it raised its minimum wage for store workers to $14 to $19 per hour, and it has consistently taken steps to improve compensation for its pharmacy technicians.

However, the company's average wage still falls behind competitors like Costco.

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Walmart had previously reduced pharmacy hours in response to labor market challenges.

The healthcare industry is facing a shortage of pharmacists nationwide.

Many pharmacy workers have experienced burnout and left the industry after the demanding battle against the COVID-19 pandemic.

The Bureau of Labor Statistics predicts slower expansion in the industry compared to other sectors, with most job openings arising from the need to replace workers transitioning to different occupations or leaving the workforce.

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