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How a CEO's Move to Pay All at Least $70K Backfired

Dan Price's egalitarian salary plan created a tempest

(Newser) - It seemed like a great idea at the time: Pay every employee in your company at least $70,000. But as the New York Times reports, when Dan Price announced his grandiose plan, a whole host of problems quickly descended on his Gravity Payments credit card processing company. Two longtime... More »

Not Confessing Our Salaries Is 'Stupid'

But Emily Dreyfuss still finds it really hard to do

(Newser) - Emily Dreyfuss is completely aware that one would be breaking the "last great taboo" by agreeing to talk about one's salary. Out loud. With other people. But in an essay for Wired spun out of the fact that others are now doing just that on Twitter (see #talkpay... More »

Why the '$70K' CEO Is Cool With Losing His $1M Salary

Dan Price says his life is pretty simple

(Newser) - Gravity Payments CEO Dan Price has been lauded since news broke that he's gradually raising the minimum salary for his company's employees to $70,000—but what will it be like for Price to live on $70,000? That's what he, too, will be making, down from... More »

Entrepreneur Reads Study, Will Pay All Workers $70K

Dan Price wants his employees to be as happy as possible

(Newser) - A number of studies have been done to determine exactly how much income we need to reach our happiness peak, and Dan Price read one that pegged the magic number at about $70,000 per year. But Price, the owner of a credit-card payment processing company, didn't just read... More »

What You Earn for Life Likely Set Before You're 30: Report

Federal Reserve Bank of NY says bulk of earnings growth happens in one's 20s

(Newser) - Those who like predicting how much they'll have by the time they retire may want to peruse the Federal Reserve Bank of New York's latest research. The bank's report , which analyzed the careers of 5 million workers over four decades, found that it's the first 10... More »

The Richest US Cities —and the Salaries They Require

San Francisco tops the rich list

(Newser) - To live comfortably in America's richest city, you'll need $124,561 a year. That's according to a CheatSheet analysis, which defines the wealthiest cities as those with the highest percentage of people making more than $150,000 per year, the Washington Post reports. The analysis also reveals... More »

Italian Parliament's Barbers See Pay Cut—to $125K

It's proof of 'unjustified privileges,' says civil servants union

(Newser) - In Italy, the average nurse earns about $30,000 a year . A high school teacher typically brings home about the same, reports. The barbers who snip the hair of Italy's members of parliament? Well, they rake in just a bit more: $125,000 a year—and that'... More »

Zuckerberg's 2013 Salary: $1

Follows in Steve Jobs' footsteps

(Newser) - Steve Jobs did it; Google founders Sergey Brin and Larry Page did, too. Now Mark Zuckerberg is joining the ranks of the $1-a-year CEOs, Bloomberg reports. That's what the Facebook boss earned in salary last year, compared to $503,205 the year before. The low salary shouldn't hurt... More »

Obama Goes It Alone to Expand Overtime Pay

Aims to limit exemption for 'executive or professional' workers

(Newser) - President Obama is acting to ensure overtime for millions of workers who may currently be working the hours without getting the pay. As it stands, workers ranging from fast-food managers to computer experts may be labeled "executive or professional" by their employers; that designation lets their bosses avoid paying... More »

Congressman Whines He's 'Stuck' With 6-Figure Salary

'I'm stuck here making $172K,' Rep. Phil Gingrey reportedly said

(Newser) - The latest politician to have his name splashed across national news over something he said is Georgia Rep. Phil Gingrey, who is finding himself under fire following a meeting of congressional Republicans yesterday. On the table was the ruling that allows federal lawmakers and their staffers to get a health... More »

Your Salary Is Just a Fraction of What You Make

That fraction being about 1/2: Tax Policy Center experts

(Newser) - Howard Gleckman has a news flash for you: You make far more money than you think you do. Writing for the Christian Science Monitor , the Urban-Brookings Tax Policy Center fellow isn't arguing that you're reading your paycheck stub wrong. Rather, the number on that stub is only the... More »

Booz Allen: Snowden Is Fired, Didn't Make $200K

Company says NSA leaker's salary was $122K

(Newser) - If nothing else, you can certainly say it wasn't a moment too soon. Resoundingly slamming the barn door after a certain pony fled to Hong Kong, Booz Allen has fired Edward Snowden , the company announced in a one-sentence statement today. "Snowden, who had a salary at the rate... More »

Public University Presidents Rake in Millions

Disgraced former Penn State boss Graham Spanier leads the pack

(Newser) - Last year, four public university presidents boasted compensation of more than $1 million, a study finds. At the top: Graham Spanier, the former Penn State president driven out by the Jerry Sandusky sex abuse scandal. Spanier made $2.9 million in the 2011-2012 fiscal year; part of that was his... More »

Congress Is So Awful Because It Needs a Raise

Daniel Schuman: If we want good lawmakers, we need to pay them more

(Newser) - File this one at the opposite end of the spectrum as "throw the bums out." Daniel Schuman argues at Slate that we need to give Congress a hefty raise. The workload is way up thanks to slashed staffing levels, while salaries are way down relative to previous decades.... More »

Forget Execs: Fannie-Freddie Middle Managers Earn $205K+

About 1/6 of their workforce is making big bucks

(Newser) - If wild executive pay makes your list of "things to be depressed about," steel yourself: A new report on Fannie Mae and Freddie Mac will add the non-executive class to your register of woes. The inspector general's report, out today, looks at the 2011 pay of senior... More »

New US Jobs Pay Less Than Those Lost

We're suffering 'good jobs' deficit: analyst

(Newser) - Yes, the economy's been adding jobs—but they don't match the pay of jobs that disappeared starting in 2008, a study by a liberal activist group finds. Some 60% of jobs lost between 2008 and 2010 were in the middle third of wages; these included jobs like manufacturing,... More »

Surprising Jobs That Earn 6 Figures

Elevator repairmen make the list

(Newser) - It's not just investment bankers, doctors, and the Waltons who earn sizable salaries. Forbes has compiled a list of 20 surprising occupations that pay out more than $100,000, at least for those in the top 10% of their professions. A sampling: More »

What Defines Success? Salary of $50K-$70K a Year

Majority of workers says fewer than six figures equals success: survey

(Newser) - Most Americans don't think they need to make six figures to be successful. A new poll of 5,772 workers found that a little less than 30% would define success as raking in between $50,000 and $70,000 a year; another 23% said they'd be happy with... More »

Female Doctors Earn $365K Less Than Men Over Career

One possible reason: They don't negotiate for raises

(Newser) - The gender wage gap exists even among top physicians. While analyzing a group of 800 doctors who won a competitive research grant, researchers from the University of Michigan and Duke were surprised to discover that the female physicians in the group earned on average $12,194 less a year than... More »

Firm Posts Job Opening for Lawyer—Salary $10K a Year

And plenty of people apply...

(Newser) - Just how bad is the job market for young people? So bad that a Boston law firm recently posted a job for a new, full-time associate that's expected to pay just $10,000 a year, WBZ reports. That might be less than minimum wage, but the firm, Gilbert &... More »

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