Stripe OLT is now a Living Wage Employer - logo

Why we’ve committed to being a Living Wage Employer

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It’s official – we’ve gone through the accreditation process, got our plaque through the post, and we are now a Living Wage Employer.  But what does it mean to be a Living Wage employer, and why have we taken the time to do it?

The Living Wage commitment means that all our permanent employees will receive at least the minimum hourly rate of £9.15 in London and £7.85 everywhere else set by the Living Wage Foundation – significantly higher than the national minimum wage of £6.50.

The hourly rate is set independently and updated annually. The Living Wage is calculated according to the basic cost of living using the ‘Minimum Income Standard’ for the UK. Decisions about what to include in this standard are set by the public; it is a social consensus about what people need to make ends meet.

Of course a large number of our people are highly skilled and therefore earn significantly more than the Living Wage, so it might seem odd for us to take the time to do this. But this commitment reflects our belief that our business is all about the people in it, and the relationships they build with each other and our clients, and that each and every one should therefore earn enough to make ends meet.