Best boss in America? CEO raises firm's minimum wage to $70k after reading study on happiness
by Josie Ensor, San Francisco

The Telegraph    Translate This Article
15 April 2015

On 15 April 2015 The Telegraph reported: Dan Price, founder and CEO of credit card payment processing company Gravity Payments, decided to introduce a new minimum wage of $70,000 (£47,000) while reducing his own by 90 per cent. Mr Price, whose company handled $6.5billion in transactions last year, decided to raise his employees' pay after reading a study about happiness in the workplace. Research conducted by Nobel Prize-winning economist Angus Deaton and psychologist Daniel Kahneman found that what they called emotional well-being rises with income, but only to a point. And that point turns out to be about $75,000 a year. Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.

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See study by Daniel Kahneman and Angus Deaton here

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