Click here to sign up for our FOX43 Blood Drive on January 17

Boss sets minimum salary starting at $70,000 for entire company

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SEATTLE, WA(WPMT) The boss of a Seattle based company has set the minimum starting wage at $70,000 for the entire company.

Dan Price, the head of Gravity Payments, is doing it because he is aware of  the difficulties of making $40,000 a year.

Price also says that he will cut his nearly $1 million salary to $70,000 and use about 80 percent of the business’ anticipated profit to increase the salary of about 70 employees.  His company employes a staff of 120.

Gravity Payments provides progressive and transparent merchant services to small- and medium-sized businesses.