Board Directors Reap Big Rewards for Their Work

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Board Directors Reap Big Rewards for Their Work

January 10, 2008 3:48 PM

Board directors take home big bucks, according to this analysis by The Corporate Library. It found the average pay for a part-time board member is $200,000 a year, and in 2006, 85 corporate directors earned more than $1 million. The duties of these corporate directors typically include attending around 10 meetings a year, participating in some conference calls, and occasionally consulting on projects. These findings concern those who already worry that board members may not be keeping shareholders’ best interests in mind. "This just shows directors have their hand in the piggy bank as much as anyone else," says Daniel Pedrotty, a corporate governance expert at the AFL-CIO Office of Investment. "You aren't going to want to alienate or get aggressive with someone who is paying you a substantial amount of money for showing up for 15 meetings a year. This just underscores what we have understood all along that the gatekeepers are part of the problem."