BENTONVILLE, Ark. – More than 1.2 million Walmart U.S. and Sam’s Club associates will receive a pay increase under the second phase of the company’s two-year, $2.7 billion investment in workers. The pay raise, which takes effect Feb. 20, will be one of the largest single-day, private-sector pay increases ever. The discount retailer is also implementing new short-term disability and simplified paid time off (PTO) programs.

“We are committed to investing in our associates and to continuing to simplify our business. When we do so, there is no limit to what our associates can accomplish,” said Judith McKenna, chief operating officer for Walmart U.S., in a press release.

A job at Walmart means competitive pay for all associates. Every year, the company promotes 160,000 associates to jobs with higher pay and more responsibility. Last year, Walmart converted more than 150,000 associates from part-time to full-time. On Feb. 20, 2016, the company will implement one of the largest single-day, private-sector pay increases ever, benefiting more than 1.1 million hourly associates. The changes taking effect include:

• All associates hired before Jan. 1, 2016 will earn at least $10/hour.
• New entry-level associates will continue to start at $9/hour and move to at least $10/hour after successfully completing the company’s new retail skills and training program known as Pathways.
• Associates already earning more than $10/hour will receive an annual pay increase in February rather than waiting until their anniversary date.

When these changes go into effect, Walmart’s average full-time hourly wage will be $13.38/hour. The average part-time hourly wage will be $10.58/hour. Many Pennsylvania convenience stores pay their workers above the state minimum wage as well.