Gravity Payments gives massive raise to employees after seeing a study that says money does buy happiness

Based on data from a massive survey by Gallup, a pair concluded that people with higher incomes did indeed enjoy a happier mood. When asked to recall their emotions the previous day, they were less likely to report that they had been stressed or worried, and more likely to remember feeling happy and smiling. But there was a point of diminishing returns. Once people earned $75,000 per year, extra pay didn’t statistically improve their state of mind at all. This is an interesting study that helps shed some light to the relationship between money and happiness.

Founder and chief executive of credit card processing company Gravity Payments, Mr. Dan Price, has decided give out a massive raise that will bring the minimum salary for his 120 employees to $70,000 per year after pursuing the idea from the study above.

What do you think, does money buy happiness?