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Updated: Friday, April 17, 2015

Gravity Payments resets minimum wage

As demonstrators staged “tax day protests” across the United States demanding higher pay, Gravity Payments dramatically increased its staff’s salaries, making headlines around the world. The ISO's Chief Executive Officer, Dan Price, revealed April 14, 2015, in a televised meeting that the company would pay a minimum salary of $70,000 to all employees. The plan, effective immediately, allots incremental raises over a three year period.

“Starting today, everybody in the company that makes under $50,000 a year is automatically going to make the greater of $50,000 a year or $5,000 more than you’re making today," Price said.

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