The Home Depot is based in Atlanta and operates 2,286 home improvement stores throughout the United States, Canada, and Mexico. Here, we describe the duties, salary, and benefits of the store managers ultimately tasked with these establishments’ success. Moreover, to offer perspective, we compare The Home Depot store manager salary with that of managers at two other players in the home improvement retail sector.
The Home Depot Store Manager Description & Duties
The Home Depot focuses its retail strategy on customer service, proper stock levels and appearance of the store. Managers of The Home Depot stores have as their goals successful execution of this strategy. To do so, Home Depot store managers conduct weekly staff members and tour the stores with their assistant managers and department supervisors and train and evaluate store management and associates. Other tasks include analyzing sales and cost figures for the store, encourage sales of clearance items, answer questions from customers, initiate and monitor pilot programs and meet with district and regional managers.
The Home Depot requires its store managers generally to be available at least 55 hours per week. Work schedules may extend into evenings and weekends. As a general rule, The Home Depot store managers work inside. However, some of the work may involve lifting heavy equipment or inventory, bending, standing and climbing. Frequently, store managers must walk to inspect the store and monitor their conditions and associates.
The Home Depot Store Manager Salary & Benefits
According to Glassdoor, a Home Depot store manager can expect an annual mean base salary of $90,677, or approximately $7,556 per month.
Additional pay registers on average at $36,093. The components of additional earnings consist of cash and stock bonuses and the sharing of profits and commissions. For instance, mean cash bonuses equal $36,093. The Home Depot store managers may participate in the employee stock option plan and enjoy stock bonuses with a mean value of $13,650. The pay of this professional can range from $49,573 to $132,870 per year, meaning $4,131 to $11,073 per month.
The Home Depot touts job benefits under its “Orange Life Advantage” tag. Store managers may find performance bonuses, paid vacation and other time away from the store. Also, participation in a 401(k) plan, help with repaying tuition, health (vision, medical and dental) coverage and insurance covering home, property in apartments and other rentals and pets. With the title of Home Depot store manager also come savings on cell phone service, consumer electronics, lodging, air, bus or another transportation fare, and benefits for commuting.
Alternative Companies Salary
The median Home Depot store manager salary compares well with that of the chain’s major competitor, Lowe’s Home Improvement. There, store managers garner a mean pay of $88,443 per year. However, pay at the higher end of the spectrum can peak as high as $155,812. This eclipses the maximum pay for The Home Depot store managers.
At Menards, headquartered in Eau Claire, Wisconsin and serving primarily locations in the Midwest, store managers have a mean base salary of $113,436, as reported by Glassdoor. Some managers fetch as much as $135,000. Menards offers managers and other employees “Instant Profit Sharing Bonus” opportunities and weekly and yearly bonuses. The mean pay reaching $125,000 with these additional sources of compensation.
Finally, we can say that The Home Depot store manager salary corresponds on a mean basis with those of competitors. Opportunities exist for managers to earn bonuses and grow their total pay. Insurance, retirement, and repayment of college tuition are also available. For another retail position, look at the Walgreens store manager job position. Please share with us your earnings and work experience as a store manager at The Home Depot.