Minimum $70K Salary for All Employees

Last week, we asked about a finance company’s plans to raise every employee’s salary to a minimum of $70,000 per year, as an effort to address the issue of salary inequality. We asked if readers thought it was a good idea.

Most readers (54%) said no, while 36% said yes and 10% weren’t sure.

Comments
“Salary inequality (male vs. female for the same position-level and also CEO salary vs. general workforce pay) is a problem, and this company should be applauded for at least trying to rectify the problem.”

“The economic engine works best when worker spend their money. One person spending $1 million does not have the same impact as 1 million workers spending $1 and those spent dollars are re-spent by the sellers.”

“An employee has to at least pay for themselves. This does not allow for this. Also, the CEO of the company took his $1,000,000 salary to $70,000. What does that prove? The CEO is not worth $1,000,000? Foolish move.”

Teresa McPherson was the former Editor of Adhesives & Sealants Industry. She has held several editorial positions during her more than 20 years with BNP Media. She holds a bachelor’s degree in English and journalism from Eastern Michigan University.