Dan Price, the CEO of Seattle-based company Gravity Payments, recently announced that he will be raising the salary of every Gravity employee to a minimum of $70,000 per year. He aims to do so by cutting his own salary. Last week's CI CyberNews CyberPoll asked readers whether it is important for companies to address income inequality. The majority of respondents (75%) said yes. No earned 16.7% of responses, while maybe/unsure received 8.3%.
"When you look at the compensation packages for CEOs of large companies, you have to wonder what makes their efforts so very valuable as to have a salary 10 or more times the income of senior managers."
"The difference in pay between the top and the bottom can be tens of times in many American companies. Some jobs should be higher paying than others, but these kinds of pay gaps within the same companies are simply absurd. There are things that can be done to help correct this issue. The Ben and Jerry’s company had a decent rule to keep this in check when it started. Of course, that rule went out the window when the company was acquired by Unilever."
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