--- title: "Gravity Payments’ $70K Minimum Wage, Six Months Later" id: "30764" type: "post" slug: "gravity-payments-70k-minimum-wage-six-months-later" published_at: "2015-10-26T20:13:51+00:00" modified_at: "2026-03-16T14:55:17+00:00" url: "https://associationsnow.com/2015/10/26/gravity-payments-70k-minimum-wage-six-months-later/" markdown_url: "https://associationsnow.com/2015/10/26/gravity-payments-70k-minimum-wage-six-months-later.md" excerpt: "If the past six months of results are any indication, the company that set a $70,000 minimum wage may have made the right business decision. Plus: Do nine out of 10 nonprofits really fail?" taxonomy_category: - "Business Development" taxonomy_post_tag: - "AssociationsNow" - "Business" - "company strategy" - "Established CEO" - "minimum wage" taxonomy_content_format: - "Article" taxonomy_persona: - "Executive Leadership" --- [Home](https://associationsnow.com/) » [Articles](https://associationsnow.com/format/article/) » Gravity Payments’ $70K Minimum Wage, Six Months Later Gravity Payments founder Dan Price [decided in April](http://associationsnow.com/2015/04/monday-buzz-minimum-salaries-gravity-payments/) to raise his company’s minimum salary far beyond Seattle’s $15 hourly wage: to $70,000 a year. That decision sparked a huge debate about whether the move would propel the credit-card-processing company to the next level or if it would drag the business down with unsustainably high salary obligations. Six months into the experiment, how is Gravity faring? *Inc.* editor Paul Keegan [talked with Price to find out (opens in a new tab)](http://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html) , and his findings, though still early, indicate that the pay bump has more than paid off for the company. “Revenue is growing at double the previous rate. Profits have also doubled,” Keegan writes. “Gravity did lose a few customers: Some objected to what seemed like a political statement that put pressure on them to raise their own wages; others feared price hikes or service cutbacks. But media reports suggesting that panicked customers were fleeing have proved false. In fact, Gravity’s customer retention rate rose from 91 to 95 percent in the second quarter.” The company’s biggest immediate challenge, Keegan discovered, could be a legal battle between Price and his brother over ownership of the company, a battle that Keegan [explores in depth here (opens in a new tab)](http://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html) . Litigation aside, Price’s bold decision appears to be a financial victory—though, ultimately, he wants the $70,000 wage to be recognized as something other than a savvy business deal. “I want the scorecard we have as business leaders to be not about money but about purpose, impact, and service,” he told Keegan. “I want those to be the things that we judge ourselves on.” ### Reality Check of the Day **Are infographics dead?** Critics may claim that their usefulness has vanished as the web continues to evolve, but in this post on Hootsuite’s blog, writer [Dara Fontein relates (opens in a new tab)](http://blog.hootsuite.com/are-infographics-still-relevant/) how you can keep your infographics relevant by focusing on data, by designing these tidbits so they’re easy to share on social media, and by creating clear, uncluttered visuals. ### Other Good Reads **Business is about creating beneficial partnerships,** but how do you know if you’re getting the most out of yours? National Retail Federation senior vice president Mike Gatti [shares some tips with Entrepreneur (opens in a new tab)](http://www.entrepreneur.com/article/251472) on optimizing business-association relationships. **Advertising can be an expensive venture for nonprofits,** but [this coalition of agencies is changing that (opens in a new tab)](http://www.meridianstar.com/news/business/nonprofits-offered-pro-bono-advertising-through-createathon/article_6ff0c678-7a8b-11e5-8ef4-03cfe9ed2b82.html) , one free ad at a time. **Presidential hopeful Ben Carson claimed that nine out of 10 nonprofits fail,** but do the numbers support that assertion? [The Washington Post dives into the facts (opens in a new tab)](https://www.washingtonpost.com/news/fact-checker/wp/2015/10/26/ben-carsons-unsupported-claim-that-nine-out-of-10-nonprofits-fail/) to see just how effective nonprofits really are. [Eli Zimmerman](https://associationsnow.com/author/eli-zimmerman/) Eli is studying Journalism at the University of Maryland. When not studying, he likes to relax with a nice book or a couple rounds at the local boxing gym. [More articles by this author](https://associationsnow.com/author/eli-zimmerman/) Tags: [#Business](https://associationsnow.com/tag/business/) [#company strategy](https://associationsnow.com/tag/company-strategy/) [#Established CEO](https://associationsnow.com/tag/established-ceo/) [#minimum wage](https://associationsnow.com/tag/minimum-wage/) **Stay Informed** [Subscribe to our free newsletter](https://associationsnow.com/newsletter/) , *Associations Now Daily News*, to find out what’s happening in the association world every business day. ## You Might Like - [VideoASAE Research Foundation and MPI Foundation on Neurodiversity in AssociationsDecember 15, 2025](https://associationsnow.com/2025/12/15/asae-research-foundation-and-mpi-foundation-on-neurodiversity-in-associations/) - [Video2026 Summit Awards DinnerOctober 2, 2026](https://associationsnow.com/2026/10/02/2026-summit-awards-dinner/) - [VideoAmerican Geophysical Union: Standing Up for Science: AGU’s Year of Action for Scientists and SocietySeptember 24, 2026](https://associationsnow.com/2026/09/24/american-geophysical-union-standing-up-for-science-agus-year-of-action-for-scientists-and-society/) - [VideoAmerican College of Emergency Physicians: ACEP Geriatric Emergency Department Accreditation ProgramSeptember 24, 2026](https://associationsnow.com/2026/09/24/american-college-of-emergency-physicians-acep-geriatric-emergency-department-accreditation-program/) ## Comments **Comments are for ASAE members.** [Learn more about comments on this site.](https://associationsnow.com/comments/) [Log in](https://associationsnow.com/login?redirect_to=https%3A%2F%2Fassociationsnow.com%2F2015%2F10%2F26%2Fgravity-payments-70k-minimum-wage-six-months-later%2F%23comments) to your member account or [join ASAE](https://my.asaecenter.org/select-a-membership-type/) !