Key Takeaways Sam's Club is raising its entry-level wage to $16 and is increasing the rate at which pay rises with years of service.The membership-based retailer anticipates the average hourly wage for Sam's Club front-line associates will be above $19.

(Reuters) - Walmart-owned Sam's Club said on Tuesday it would raise average hourly wages for nearly 100,000 of its workers, as part of a new employee compensation plan that will come into effect ahead of the holiday season rush. Wages for its entry-level workers will now start at $16 per hour from $15 that was set three years ago, it said.

Sam's Club workers with longer tenures to get larger increases in changes slated to take effect in early November.

Sam's Club is increasing wages for its frontline workers in an effort to retain staff. This announcement comes ahead of the busy holiday shopping season.

The average hourly wage at Walmart-owned Sam's Club has increased by nearly 30% in the past five years and is expected to top $19 with the new plan.

Sam’s Club said Tuesday it will raise pay to incentivize workers to stay with the company — and not jump ship to Costco.

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