Minimum wage of $70,000 a Year

The owner of Gravity Payments, a credit card processor in Seattle, said he heard stories of how tough it was to make ends meet even on salaries that exceeded the federal minimum wage.

This is a pretty radical experiment by Gravity Payments. Their new minimum wage is going to be $70,000 per year, and the article also cites that the CEO is reducing his wage to that amount as well. I’d love to see more companies think outside the box like this.

Source, NY Times: One Company’s New Minimum Wage: $70,000 a Year, via Dave Pell’s NextDraft.

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