SEATTLE — Tuesday night, three hours after the doors were locked at 6 p.m., a dozen workers were still quietly but intensely focused on computer screens at Ballard’s Gravity Payments offices, hammering fingers on keyboards, still aglow from Monday’s surprise, life-changing announcement.
"We're going have a minimum $70,000 pay rate for every single person who works here," said Gravity Payments’ founder and CEO Dan Price as he looked into the eyes of dozens of stunned teammates, who were too surprised to even utter a sound before erupting into wild cheering and high-fives.
"I think its life changing for everybody in various ways," said an emotional Jose Garcia, whose $33,000 salary will jump to $50,000 immediately and more than double to $70,000 within three years.
Until Monday, the average worker at the rapidly growing credit card payment processing business was earning $48,000.
Price, who started the business at age 19 in his Seattle Pacific University dorm room, is cutting his own $1 million salary to $70,000 to help pay for the raises.
“I want to be part of the solution in inequality in this country,” said Price, who noted a Princeton University study which made a correlation between happiness and an enhanced sense of well-being with an income level of about $70,000.
“And if corporate America also wants to be part of this solution, that would make me really happy,” Price said. “What matters to me is that the problem gets solved."
Last year, Gravity Payments’ human resource director rolled-out another unusual worker benefit; unlimited paid vacation.
“Unlimited paid vacation is something most people don't even know about," said Leah Brajcich, who works in Gravity's sales department. Brajcich said Gravity workers don't over-use the benefit, and the company’s H.R. manager confirmed it. The average worker took only two days more in 2014 when they made paid vacations completely unlimited.
Price was lauded on KIRO 7's Facebook page.
"You are an inspiration, blessings to you sir," said one commenter.
I'm impressed by this man,” said another. “He put his money where his mouth is, literally. He's taking a $930,000 cut in HIS pay to help 30 people have better lives.”
Brajcich said workers feel a responsibility to support each other, as a team.
"We're all like-minded, we all work really hard, so it really comes down to trust," she said.
KIRO
