The United States has one of the world’s largest pay gaps, with chief executives earning nearly 300 times what the average worker makes. Despite new regulation embedded in the financial overhaul that Congress passed in 2010, publicly held companies have yet to disclose the ratio of CEO pay to the median pay of all other employees. After reading an article about happiness that showed that extra money makes a big difference for people who earn less than $70,000, Dan Price, the owner of credit card processor Gravity Payments, decided to raise the minimum wage at his company to that threshold: $70,000. The average salary of his 120 employees is $48,000 year. The paychecks of about 70 employees will grow, with 30 ultimately doubling their salaries. The way Price anticipates to pay for it all is almost the best part of the story.
Seattle-based Gravity Payments raises its minimum wage to $70,000 a year
More of Today's Solutions
How to make a healthier, tastier cup of coffee
There’s really nothing like a cup of coffee in the morning, giving you comfort and a boost of energy to start off your day. ...
Read MoreStudy: psilocybin therapy 4 times more effective than antidepressants
In 2020, Oregon voted to become the first state to legalize access to psilocybin for all adults. A study reinforces the idea that voters ...
Read MoreAstronomers demand disco balls for science: A shiny spin on solar observation
It’s true that disco balls have had their place in space for decades now. However, some astronomers argue in a new article that disco ...
Read MoreBig toe mobility: don’t overlook this humble joint’s big role in health and f...
BY THE OPTIMIST DAILY EDITORIAL TEAM When thinking about the fundamentals of fitness and health, it's easy to ignore something as seemingly minor as ...
Read More
