Would You Make $70,000 the Minimum Salary at Your Company?
Entrepreneurs are known for doing crazy things. Dan Price, founder of credit-card processing company Gravity Payments is no exception. He made headlines this week for taking a pay cut and announcing a plan to make $70,000 the minimum salary at his 120-person company.
Entrepreneur
Price -- who earned distinction last year as our Entrepreneur of 2014 -- told The New York Times that the idea for raising the minumum salary at Gravity Payments came to him after reading a study about happiness. Apparently, people who earn less than $70,000 a year are less happy than those who make more.
Seventy of Price's employees will see pay increases. As you can imagine, Price has been lauded in the media for championing the interests of employees.
Do you think he's crazy as a fox or just plain crazy?
Either way, check out our video of Price explaining how he caught the entrepreneurial bug:
Related: This Entrepreneur Just Announced $70,000 Minimum Salaries for His Entire 120-Person Team
Entrepreneur Editors' Picks
-
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
-
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
-
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
-
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
-
How to Unleash Your Creativity and Transform Your Marketing Strategy
-
The 5 Personalities You Meet in a Coworking Space
-
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising
