CEO Who Cut His Own Salary Gives New Employees Immediate $10K Raise And Pledges Additional $30K Within 5 Years

Getting a raise is something that most working people aspire to. However, the reality is, most people have to change their job or career if they would like to earn more money. But that is not the case for employees at Gravity Payments in Seattle, Washington.

Gravity Payments is a company that processes credit card payments. In an era where the financial compensation for many CEO’s is in the seven-figure range, Gravity Payments CEO Dan Price made news in 2015 with his decision to significantly cut his own salary from $1 million to $100,000. Dan did not stop there, however. He also announced that everyone in the company would immediately begin earning a minimum salary of $70,000. At the time, he was quoted by ABC News as saying: “Previously, I was making a million dollars a year and people working for me were making $30,000 a year and that’s wrong, I was feeding into the problem.”

Gravity Payments recently acquired another credit card processing company headquartered in Idaho. At the time of the purchase, Dan Price announced that all of the new Idaho employees would be given an immediate $10,000 raise, with plans to gradually move them up to the $70,000 minimum wage within five years. Considering the fact that most of the employees at the newly acquired company were earning around $30,000 annually, a $10,000 raise is truly life-changing.

Dan told ABC News that one employee has already told him that the salary increase will allow them to work one job instead of two and spend more time with their children. Send this story of a CEO who is changing lives by generously compensating his employees to someone who would enjoy this story of everyday people being rewarded for their hard work.

What do you think about Dan Price's decision to cut back on his own salary to give his employees a raise? Let us know in the comments and be sure to pass this article along. Maybe it'll inspire others to give their employees a raise.

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