A well known CEO of a much larger company doing this could start a trend, but I wouldn’t count on it. This is a business owner, most CEOs aren’t, and it’s hard to see them giving up the pay that they’re in the job for in the first place.
ETA: Most CEOs of large businesses are not owners. Small companies are usually run by their owners.
If this guy is also the company owner, in addition to CEO, he has money at risk, has built up the business and has presumably managed it to considerable size for this type of business. And he is OK with making what everyone else there does? He plans to continue making the hard decisions, managing people and keeping customers happy? This story is either a complete hoax, or is PR stunt for some ulterior purpose that the media is glad to lap up.
But hey, he’s (and any other owners or corporate board) free to try it. Can’t wait to see how hard people work when they are all making the same amount. Let’s see how it works out a year from now.
My insurance has a $4000 deductible. If I had to get anything more than 4K done near the beginning of the year I’d be on the hook for the whole thing. Going to the ER could be a few hundred dollars for a few stitches, a few thousand for something that involved imaging or even more if you ended up in surgery.
The cynic in me wonders if there is some middle manager in that company, who worked his ass off for years,and sacrificed for his career, to finally get to a salary of $70,250, who is now punching holes in trees and screaming like a madman.
I’m encouraged to hear this news. I wonder if I could reward that business some way… You know, if they sold hot dogs, I’d buy some of their hot dogs. But they’re a credit card processing company, whatever that is.