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  • August 2015 (Revised March 2017)
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The $70K CEO at Gravity Payments

By: Mitchell Weiss, Michael I. Norton, Michael Norris and Sarah McAra
  • Format:Print
  • | Language:English
  • | Pages:26
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Abstract

In 2015, Gravity Payments CEO Dan Price took a massive pay cut to raise the minimum wage at his company to $70,000 annually. In the wake of a national discussion of wage equality, he was met with cheers and jeers. The company hoped that the unorthodox move would, through a range of levers, cover the increasing costs of compensation. Did Price make the right move? Would Gravity thrive or even survive?

Keywords

Wage Gap; "Credit Card Processing"; CEO Pay; Inequality; Human Resources; Compensation and Benefits; Human Capital; Wages; United States

Citation

Weiss, Mitchell, Michael I. Norton, Michael Norris, and Sarah McAra. "The $70K CEO at Gravity Payments." Harvard Business School Case 816-010, August 2015. (Revised March 2017.)
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About The Authors

Mitchell B. Weiss

Entrepreneurial Management
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Michael I. Norton

Negotiation, Organizations & Markets
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Related Work

    • August 2015 (Revised March 2017)
    • Faculty Research

    The $70K CEO at Gravity Payments

    By: Mitchell Weiss, Michael I. Norton, Michael Norris and Sarah McAra
    • July 2017 (Revised December 2019)
    • Faculty Research

    The $70K CEO at Gravity Payments

    By: Mitchell Weiss, Ryan W. Buell, Michael I. Norton, Sarah McAra and Michael Norris
Related Work
  • The $70K CEO at Gravity Payments By: Mitchell Weiss, Michael I. Norton, Michael Norris and Sarah McAra
  • The $70K CEO at Gravity Payments By: Mitchell Weiss, Ryan W. Buell, Michael I. Norton, Sarah McAra and Michael Norris
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