Walmart CEO made Rs 1.4 lakh every 30 minutes ahead of retirement; Report

As Doug McMillon prepares to step down as chief executive of Walmart later this month, his final-year compensation has put the spotlight back on the scale of executive pay at the top of corporate America.

McMillon earned about $27.5 million in total compensation in his last year as CEO, based on company disclosures cited by Fortune. Spread across the year, that works out to roughly Rs 1.4 lakh every 30 minutes, underscoring the widening gap between top executives and average workers.

Pay package breakdown

The world’s largest retailer said McMillon’s compensation included a base salary of $1.5 million, stock awards worth $20.4 million, and non-equity incentive bonuses of $4.4 million. During his tenure, Walmart reported revenues of around $905 billion, cementing its position as the world’s biggest grocery retailer.

On an hourly basis, McMillon’s earnings translate to about $3,100 an hour, or roughly Rs 2.6–2.8 lakh, calculated across the full year.

A long journey from the shop floor

McMillon’s career has often been cited by Walmart as a success story of internal progression. He joined the company in 1984 as an hourly warehouse worker, unloading trailers for $6.50 an hour. Over four decades, he rose through the ranks to lead the retailer’s global operations.

The contrast between his starting wage and his final-year earnings has sharpened public attention. Based on data from the US Bureau of Labor Statistics, the average American worker earns about $62,000 a year. At McMillon’s pay rate, that amount would be earned in less than 20 hours.

Housing comparisons further highlight the disparity. With the median US home price at around $439,000, McMillon could earn that sum in under a week at his final-year compensation level.

Part of a broader pattern

McMillon’s pay is not an isolated case. The Wall Street Journal has reported that executive compensation at major US companies has continued to climb, even as many workers face pressure from higher living costs.

Other high-profile packages have also drawn attention. Reuters reported that Apple CEO Tim Cook earned $74.6 million in 2024, while Tesla chief Elon Musk has faced intense scrutiny over a performance-linked compensation plan that sparked debate around governance and shareholder oversight.

As McMillon exits, Walmart joins a growing list of global companies facing questions over how executive rewards align with workforce realities. For policymakers, investors and labour advocates, the episode highlights a persistent challenge: balancing leadership pay with broader concerns about income inequality and fairness in an era of heightened public scrutiny.