Linked by Thom Holwerda on Sat 1st Aug 2015 11:12 UTC
In the News

Three months ago, Mr. Price, 31, announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, and slashing his own million-dollar pay package to do it. He wasn't thinking about the current political clamor over low wages or the growing gap between rich and poor, he said. He was just thinking of the 120 people who worked for him and, let's be honest, a bit of free publicity. The idea struck him when a friend shared her worries about paying both her rent and student loans on a $40,000 salary. He realized a lot of his own employees earned that or less.

Yet almost overnight, a decision by one small-business man in the northwestern corner of the country became a swashbuckling blow against income inequality.

Whether you support his actions or not, ask yourself this question: what does it say about our society that a young man slashing his own salary to increase that of his employees draws more ire than a CEO raising his own salary to 70 times that of an average employee?

Most mystifying of all, though, are the employees leaving because their coworkers got a pay raise to $70000, while they themselves already earned $70000. I don't understand this mindset. You still have your salary. You still get your $70000, except now your fellow men and women on the work floor also get it. Is your self-worth really derived from earning more than the people around you? Is your sense of self really dictated by how much more you earn than Jim from accounting or Alice from engineering?

Maybe I'm just too Dutch and too little American to understand this mindset, but I firmly believe this world would be a massively better place if more CEOs cut their own salaries to raise that of their employees.

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RE[4]: Comment by tidux
by james_gnz on Mon 3rd Aug 2015 13:06 UTC in reply to "RE[3]: Comment by tidux"
james_gnz
Member since:
2006-02-16

I do things because I want to do them. I live not to work; I work to live. As long as I feel that my work is properly compensation, why should I give a fuck how much my colleague is getting?
I can't see how "proper compensation" could be conceived without being relative to something. I guess perhaps you're comparing to the wider society. If we take an even broader view, and consider third world countries, then probably pretty much everyone in the the first world is overpaid. I think most people don't take such a broad view, at least if involves people less well-off than themselves. Stream of consciousness here, I guess. I'm not sure you're wrong, but I don't think it's how most people think.

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