Seattle CEO Sets Minimum Wage at $70K
Can money buy happiness? CEO Dan Price announced a whopping new minimum salary for his credit card processing firm: $70,000. While doubling the earnings for 30 of his 120 employees, Price is also cutting his own pay from nearly $1 million to $70,000. He attributed the move to research indicating that salary makes a difference in happiness, but only up to about $75,000. It’s one way to battle the widening gap between executives and employees, but some doubt it’ll spark a trend — or enable Price’s company to grow.