Remember That Company With the $70K Minimum Wage? Here’s How It’s Doing Now | Inc.com


Remember how five years ago, Dan Price, the CEO of Seattle-based payment processing company Gravity Payments, raised all of his 120 employees’ salary to at least $70,000 a year, taking a huge pay cut to make it happen?

A media firestorm resulted, including here in Inc.com, much of it focused on negative blowback from the decision, including executive resignations, sniping from local startups, and a lawsuit from Price’s co-founder (also his brother). Rush Limbaugh called Price “a communist.” All in all, the coverage painted a messier picture than a simple feel-good story of a generous CEO doing good by his employees.

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