Lowe’s Cos. announced Wednesday that it is handing out another round of bonuses to recognize its front-line employees in light of the COVID-19 pandemic.

The company, which has 144 stores in Texas, said all full-time hourly workers will get $300, and part-time and seasonal employees will receive $150 on Oct. 16. The bonuses total $100 million and will affect hourly workers at Lowe’s stores, distribution centers and store support centers, the company said.

The latest bonus will match the money Lowe’s provided to all hourly associates in March, May, July and August, according to the company.

The retailer joins other companies from Amazon to Kroger to Target that have provided their front-line and warehouse workers bonuses. Some have even offered free access to virtual doctor visits during the pandemic.

The Home Depot on Forest Lane was extensively damaged last Oct. 20, when 10 tornadoes caused $2 billion in damage to homes and businesses in Dallas, Richardson and Garland.

With the latest bonuses, Lowe’s will have provided more than $675 million in financial support to its sales associates this year, the retailer said.

Marvin Ellison has been CEO at North Carolina-based Lowe's since 2018.
Marvin Ellison has been CEO at North Carolina-based Lowe’s since 2018.(Lowe’s)

Also, Lowe’s has committed more than $100 million to support its communities during the pandemic, including $55 million in grants to provide financial relief to rural, minority-owned and women-owned small businesses, the retailer said in a press release.

The Mooresville, North Carolina-based chain has more than 2,200 stores and about 300,000 full- and part-time employees. In August it reported that second-quarter sales surged and profits were better than expected as shoppers spent stimulus money — as well as funds formerly spent on travel and entertainment — on do-it-yourself projects around the house.

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  • Associates at Wall Street investment banks can expect to earn total compensation that, in some cases, exceeds more than $250,000 per year.
  • We tapped data from Wall Street Oasis to determine how much investment banking associates are earning at some of the most prominent firms on the Street.
  • Here’s what banks like Morgan Stanley, Citigroup, Wells Fargo, and JPMorgan Chase pay their associates in salary and bonuses, on average.
  • Are you a young person working on Wall Street? Contact this reporter via email at [email protected], encrypted messaging app Signal (561-247-5758), or direct message on Twitter @reedalexander.
  • Visit Business Insider’s homepage for more stories.

Investment banking associates at firms like Goldman Sachs, Credit Suisse, and Morgan Stanley earn well into the six figures. 

Associates can expect to earn total compensation that, in some cases, exceeds more than $250,000 per year. That’s a combination of their base salary, which exceeds a minimum of $130,000 at all of these firms, and lucrative bonuses that range from just shy of $60,000 to more than $118,000 per year.

Read more: COMP COMPARE: From Goldman Sachs to JPMorgan, here’s what you can make at all the bulge-bracket banks as a first-year IB analyst

Business Insider gathered up salary data from the 10 bulge-bracket banks to figure out exactly what investment banking associates are earning. We used data from the website Wall Street Oasis, which in turn aggregates these figures directly from user submissions.

For comparison, associates outpace more junior analysts significantly when it comes to annual compensation. First-year analysts at big banks pull in an average salary of $91,000 per year (not including bonuses), as Business Insider has previously reported.

Banks hire associates out of MBA programs, and also offer some analysts looking to stay in investment banking direct promotions to the associate level.