$70,000 minimum wage at this private company...

Sandybestdog said:
I read that his brother, who is part owner, is suing him for basically not considering the interest of the shareholders. Also a woman who was a top salesperson left because other less performing and less tenured people were making the same as her. I applaud the guy for what he did. I honestly think it was not a publicity stunt. I think there could have been a fairer way to do this than to say the new salesperson and the janitor are going to make the same as a senior salesperson. I think the gap between owners/executives and workers is way too large but that doesn't mean everybody should make the same. Perhaps giving away 50% of net profits at the end of the year based on job title, performance, and seniority would be better. That way the the receptionist making $30k can get a $10k bonus and the salesperson making $60k gets a bonus too and both are happy making higher than industry standards.
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Great post. This is a sensible compensation strategy which gives employees an incentive to perform as well as respects the distinct role of each employee. Companies like this need some hierarchy. It is not some silicon valley startup where every staff member is already a talented engineer.
 
Gambit said:
Great post. This is a sensible compensation strategy which gives employees an incentive to perform as well as respects the distinct role of each employee. Companies like this need some hierarchy. It is not some silicon valley startup where every staff member is already a talented engineer.
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Honestly I'm kind of jealous of the guy. I've always been pretty entrepreneurial and thought that I would find a way to be wealthy sooner or later. It hasn't happened yet and may never. I'm a simple person and would probably get bored of all the things money can buy. I would then want to find ways to give it away. I'm not a big believer in charities. I think that the need for charities arises because people aren't able to provide for themselves in one way or another. I would prefer to give somebody a good paying job that they can then support themselves with. There's a huge difference between making $25k and $70k a year. A lot bigger than $250k and $1million.
 
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