US Company to have 70k a year min. wage

[Fahrenheit]

http://mobile.nytimes.com/2015/04/14...html?referrer=

If I were an owner of a company that had dealings with credit card collections I'd use him and his company even if is cost me a bit more.

[Deleted]

he sounds like a complete twaz

[RaoBurning]

he sounds like a complete twaz

Elevating his employees at the cost of his own paycheck makes one a "twaz," (I assume twat?) does it? I think this sounds phenomenal. Seattle is really pushing ahead with this whole "let's pay people enough to not be poor" thing.

[Ausr]

Good guy CEO. Now if only more followed his example (along with Costco's guy), there may be hope in this country.

[Torgent]

I hope this doesn't fail for him. Not just because he seems like a good guy, but because that will add fuel to the "We can't pay people enough money to survive, or we won't have businesses." Not that it is comparable to raising minimum wage, but I promise you that if it fails, it will be used to argue against it.

[Mormolyce]

Payments processing is a goldmine, they should be earning at least 70k!

Does he have an India team though? :P

he sounds like a complete twaz

He built this start up company out of his college dorm with a loan from his brother after an idea that he could process payments more cheaply than the current industry giants, and now it's the biggest payments processor in Washington. Not the first time he gave his staff a pay hike either, apparently last year he gave everyone a 2% raise. Also, he partly funded this by giving up $1m from his paycheck, and now he earns $70k as well.

I don't know the guy or anything but he seems to be pretty switched-on at least.

[Ayla]

Elevating his employees at the cost of his own paycheck makes one a "twaz," (I assume twat?) does it? I think this sounds phenomenal. Seattle is really pushing ahead with this whole "let's pay people enough to not be poor" thing.

As much as I like it, its just going to fuck BC over. and over and over and over. Then over some more. Yaay more poverty for me. Oh well, pretty soon I wont be able to cross the border at all!

[cuafpr]

This is the change that needs to happen... man they are gonna get so many applications for jobs they can truly choose the best and brightest to work for them.

[Pendulous]

Unfortunately, this is a one-in-a-million guy. Most corporations, even ones much bigger than him, wouldn't give up a penny to give their employees working equipment or better wages.

[kyoloco]

where do you apply?!

[Celista]

I don't think this is viable for most companies, but it is commendable Costco's model is likely more widely applicable.

[Fugus]

I don't think this is viable for most companies, but it is commendable Costco's model is likely more widely applicable.

At $70,000 a year, yeah, it probably isn't viable for most companies as of yet.

But at about $45,000-$50,000. That should be viable for pretty much every company if phased in over the course of 10 years while tying it to inflation so no matter how much inflation kicks it, it will still hit this point to keep the top from trying to inflate the income away.

$40,000 per year would be what minimum wage would be NOW if adjusted for inflation and increases in productivity.

The only reasons why this sounds like a lot now is because we have been dealing with substandard wages for so long it is considered the norm.

Kinda like if you went to Sierra Leone which has a minimum wage of 3 cents per hour and started offering them wages of 50 cents an hour. To them, it would be considered way too much and would risk bankrupting companies in the eyes of many who are used to 3 cent an hour while to the rest of the world would still consider them exploited and abused by any multinational using them at those wages.

Still surprising to see people who think that actually paying decent wages would bankrupt everyone who tries to in this country even though many of the stuff has been tried successfully in other nations with superior results than we have currently.

[Malachi256]

Does anyone know if employees who are already making around 70k are having their salaries bumped as well? I think the article I scanned over talked about a guy making 35k who was ecstatic, but I didn't see anything about the people already at the upper end.

[wowaccounttom]

great business model.

it will increase morale and performance within the work environment

ideally, many people will "fight" for the jobs and they will only bring in the most qualified to do the job..

win win

[Celista]

Still surprising to see people who think that actually paying decent wages would bankrupt everyone who tries to in this country even though many of the stuff has been tried successfully in other nations with superior results than we have currently.

I don't think that, I think a 30k a year min wage is more than viable in the US. And no college grad should be making less than 40k a year imo. Nothing irritates me more than seeing college graduates being forced to take shitty retail jobs/customer service for minimum wage, even if only temporarily.

[mmouser]

If he is paying the customer service rep 70k then I hope he is appropriately paying the other employees. IE if an unskilled worker goes for $15/hr and a skilled worker goes for $30/hr, then when the unskilled pay increases to $30, the skilled better increase to $60 or you are unfairly paying the skilled laborer for his work.

[Doctor Amadeus]

Awesome guy I hope others have the same courage. I personally think it will make him more money down the line.

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If he is paying the customer service rep 70k then I hope he is appropriately paying the other employees. IE if an unskilled worker goes for $15/hr and a skilled worker goes for $30/hr, then when the unskilled pay increases to $30, the skilled better increase to $60 or you are unfairly paying the skilled laborer for his work.

Nonsense this everybody has to eat poo or someone else won't feel special.

No pay people fairly and right and they reward you by working hard and being loyal. People tend to remember when you do things like that for them.

[Barnabas]

More money won't solve the problem if the people receiving the money don't understand what to do with it. Case in point with the woman making $45k a year and can't pay her rent. I know Seattle is expensive place to live but you don't need to blow that much of your income on rent.

[Fugus]

I don't think that, I think a 30k a year min wage is more than viable in the US. And no college grad should be making less than 40k a year imo. Nothing irritates me more than seeing college graduates being forced to take shitty retail jobs/customer service for minimum wage, even if only temporarily.

Yep, one of my friends has been to college for computer programming, he is now been at Walmart for about 13 years now and delivers pizza at night to provide for himself, his daughter who is now about 5 or 6 years old and pay off his $27,000 in college debt that he still owes.

One of my own clerks at the local convenience store was working there at least 3 years and making less than $8 an hour with a degree in CGI Animation. Not sure if she finally got work after she left though.

Also seen plenty of military infantry guys get out bashing people fighting for higher wages and unions and all only to spend 6 months to a year working at Walmart or some other minimum wage job only to do a 180 on their views as working in a military town does give you some priority for jobs with an honorable discharge, but still doesn't help your raises, benefits or anything else.

[tj119]

More money won't solve the problem if the people receiving the money don't understand what to do with it. Case in point with the woman making $45k a year and can't pay her rent. I know Seattle is expensive place to live but you don't need to blow that much of your income on rent.

I think he is drastically overpaying them. Many of these people may over splurge with this money and put themselves in some serious debt issues. I think if he had started them at $50,000-55,000 he would be in much better shape. I don't think he's an idiot but he better hope his company continues to grow so in 3 years he can continue paying them these overpriced wages.