Doug McMillon Wal-Mart Store, Inc., Chief Executive Officer Doug McMillon speaks at the Wal-Mart shareholder meeting in Fayetteville, ArkWal Mart Annual Meeting, Fayetteville, USA

The paychecks are big atop the world’s largest retailer.

Doug McMillon, president and chief executive officer of Walmart Inc., saw his pay rise 3.6 percent to $23.6 million last year, according to a filing with the Securities and Exchange Commission. In 2017, the ceo was the second highest-paid executive in retail, fashion and beauty behind Ralph Lauren Corp.’s Patrice Louvet, according to a WWD tally.

McMillon’s take included a salary of $1.3 million, incentive pay of $5.1 million and stock awards valued at $15.6 million, although his actual payout from stock compensation will depend on market fluctuations and vesting schedules.

Also logging eight-figure compensation packages at the company last year were Greg Foran, president and ceo of Walmart U.S., $13.5 million, and Judith McKenna, president and ceo of Walmart International, $12.9 million.

The pay for Walmart’s top executives is always controversial given the size of the compensation packages — which tend to be large in keeping with the size of the company overall — and continuing pressures on the massive retailer to up its pay for average workers.

Walmart’s starting pay for hourly associates has been moving up in recent years, but it’s still $11 an hour (although most of its warehouse associates have been making more than $15 for some time).

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