CEO Will Pay for Your Kid's College Tuition If You Work for Him

Talk about your job perks! Forget on-site daycare, one CEO is more concerned with your kids' higher education, and he's putting his money where his mouth is. Boxed co-founder and CEP Chieh Huang has decided to provide a college education to the children of his employees.

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The wholesale delivery executive wanted to provide a way for the families of his employees to get ahead, and he knew that simply increasing their wages wouldn't do the trick.

He told CNN Money, "We already pay a very decent wage within our warehouses, I think the average pay for a warehouse worker today is between $13 to $15 an hour." Anyone who has looked at college prices recently knows that even doubling those salaries would barely put a dent in those tuition payments.

Huang said, "I see the folks who work in the warehouse and around the office, and if you're not able to afford college tuition for your kids -- which is ever expanding in terms of price -- how can you ever make that change for your families?"

More from The Stir: Why Parents Shouldn't Make Kids Pay for Their Own College Education

He continued, lamenting the fact that many of his employees don't even own a vehicle. He said, "There's an issue of inequality of opportunity. What if we doubled their wage? If you do the math, even if they were able to afford a car then, it really doesn't change the trajectory of upward mobility for their family and future generations."

About 12 kids of his 100 or so employees are currently eligible, with the first one starting this fall with a grant of $20,000. The number will grow as the company expands, and Huang is OK with that. He said of his employees, "These folks have dedicated themselves to our company day in and day out ... I'm really nothing without them, so this was just my way of making the situation right."

What an amazing job benefit! Not surprisingly, job applications at Boxed have increased since word has gotten out about the scholarships, but hey, that's good business, right? What parent wouldn't be motivated by the opportunity to provide a higher education for their child?

Would you keep a job to get your kids' college paid for?

 

Image via Ralph Daily/Flickr

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