The $70K CEO at Gravity Payments
In 2015, Gravity Payments CEO Dan Price took a massive pay cut to raise the minimum wage at his company to $70,000 annually. In the wake of a national discussion of wage equality, he was met with cheers and jeers. The company hoped that the buzz from the unorthodox move would generate enough new business to cover the increasing costs of compensation. Did Price make the right move? Would Gravity thrive or even survive?
Collection: HBSP (USA)
Ref: HBS-816010-E
Format: PDF
Number of pages: 26
Publication Date: Aug 12, 2015
Language: English
Review date: Mar 31, 2017
What material is included in this case:
Description
In 2015, Gravity Payments CEO Dan Price took a massive pay cut to raise the minimum wage at his company to $70,000 annually. In the wake of a national discussion of wage equality, he was met with cheers and jeers. The company hoped that the buzz from the unorthodox move would generate enough new business to cover the increasing costs of compensation. Did Price make the right move? Would Gravity thrive or even survive?
Read more
Year: 2015
Geographic Setting: United States
Industry Setting: Credit cards; Human resources
Leave your rating
"The $70K CEO at Gravity Payments"
Register for free with IESE Publishing and enjoy all the advantages
What type of account do you want to create?
Choose account type
Professors
Academic Institutions
Companies
Individuals