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Remember Boss Who Set Minimum $70k Salaries For All Employees? See How It’s Working Out

Dan Price got a lot of kudos a few months back after establishing minimum $70,000 salaries for all employees at his credit card processing company, Gravity Payments, in Seattle. “Income inequality has been racing in the wrong direction,” he told the New York Times. “I want to fight for the idea that if someone is intelligent, hard-working and does a good job, then they are entitled to live a middle-class lifestyle.” But it appears Price’s fight hasn’t been a cakewalk. Apart from the hit his own salary took — $1 million down to $70k — Price began renting out his house to help with his diminished income. He also had to hire a dozen new employees at much higher wages to handle new clients intrigued by his stance. And then some older clients backed out believing fee spikes were around the corner, while others walked away because they took Price’s announcement as political.

via TheBlaze

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