CEO Cut His Own Salary To Give Raises To Employees
One CEO making upwards of a million dollars a year read a study suggesting the emotional well-being of his employees could be improved by a raise. Gravity Payments founder Dan Price took this very seriously. So seriously, in fact, that he cut his own $1 million salary by a whopping $900,000 to give his employees raises. He will now make $70,000 and some employees will see their salaries double.
This bold move shows the significant difference between corporate executives and regular workers' salaries, and it's ridiculous. "The market rate for me as a CEO compared to a regular person is ridiculous, it's absurd," Price told the Times. "As much as I'm a capitalist, there is nothing in the market that is making me do it."
We can only hope Price's action catches on and raises the bar for a 'normal' person's salary.