MINNEAPOLIS (WCCO) — In what it’s calling the largest single-day, private sector pay increase ever, Walmart says more than 20,300 of its workers in Minnesota will receive a pay raise.

Nationwide, more than 1.2 million Walmart and Sam’s Club associates – and more than 8,400 in the Twin Cities area – will receive the pay raise in their March 10 paycheck.

Walmart associates are also eligible for quarterly cash bonuses based on their store’s performance. In their March 10 paycheck, eligible Minnesota associates will also get a share of the more than $2.4 million bonus earned in the fourth quarter of the year alone.

The company says the pay increase in pay is part of its two-year $2.7 billion investment in “higher pay, better training, clearer career paths and additional educational opportunities for its workers.”

All associates hired before Jan. 1, 2016 will earn at least $10 an hour. New entry-level associates hired after that date will start with $9, but will move to at least $10 an hour after completing the company’s new retails skills and training program, called Pathways.