Reward improves memory through both encoding and consolidation processes. In this pre-registered study, we tested whether reward effects on memory generalize from rewarded items to unrewarded but episodically-related items. 59 human volunteers incidentally encoded associations between unique objects and repeated scenes. Some scenes typically yielded high reward, whereas others typically yielded low reward. Memory was tested immediately after encoding (n=29) or the next day (n=30). Overall, reward had only a limited influence on memory. It neither enhanced consolidation, nor did its effect generalize to episodically related stimuli. We thus contribute to understanding the boundary conditions of reward effects on memory.