Directors’ Pay Up 14%


Directors’ Pay Up 14%
Median total pay for independent directors at the 500 largest U.S. companies rose 14% last year, according to a survey by compensation consulting firm Steven Hall & Partners. The new figures bring median compensation totals from $162,363 to $185,000.

Higher cash retainers for board service (up 11%) and committee chairmanship (up 25% to 80% depending on the committee) contributed to the increase. Total board pay for companies in the bottom half of the top 500 grew a surprising 19%. About a third (34%) of the top 1,000 companies have dropped board-meeting fees, which are generally $1,500 per meeting.

Source: Steven Hall & Partners, www.shallpartners.com .

SPONSORED QUIZ

How well do you know small business?

There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.