Seattle CEO Raises Minimum Wage to $70K Annually and They’re Hiring [PHOTO]

After reading an article about happiness, the CEO of a Seattle based company decided to give all of his employees a huge raise.

On a search for happiness, Price took a $930,000 pay cut so that he could give all 120 of his employees; regardless of their job title, an annual salary of $70,000. This came about after Price read a study that found pay hikes up to $70k led to significant improvements in emotional well-being. He spoke with his employees, who make an average salary of $48,000, about the difficulties to make ends meet on smaller salaries and he decided to make the radical change.

Price began his business, Gravity Payments, which processes credit card payments, in 2004 when he was just 19 and will make an estimated $2.2 million in profits this year.

Wow. Dan Price is setting a great example in our country; hopefully other CEOs are paying close attention. Maybe we should give him a parade, or at least buy the man a drink.