What happens when $70,000 is the minimum salary? [Mic Archives]

2020-05-19 64

In April 2015, Gravity Payments’ Chief Executive Officer Dan Price decided to make the minimum pay at his company $70,000 a year. Now, two and a half years later, Price has no regrets. As a result of the pay raise, doors have opened for many of employees at this Seattle-based company. Some went on family trips, others purchased homes — and, for some, the wage increase allowed them to start a family.