Board membership requires increased commitment thanks to a rising risk environment, said Peter Gleason, CEO and president of the National Association of Corporate Director.

Median company director pay increased by 3% in 2024, averaging about $242,000 across public firms, according to a Feb. 3 report from the National Association of Corporate Directors and consultancy Pearl Meyer.

Total direct compensation continues to grow amid rising expectations and responsibilities for corporate boards, the report found.

“Directors today operate in a complex and fast-paced environment that requires agility and adaptability,” Peter Gleason, CEO and president of NACD, said in a statement. “The commitment needed for board membership has increased significantly due to oversight of emerging risks related to economic uncertainty, along with oversight in areas of human capital, technology and cybersecurity.

Based on trends from 1,400 public companies across 24 industries, median total direct compensation ranged from nearly $165,000 at micro firms (between $50-$500 million in revenue) to more than $323,000 at the top 200 firms on the S&P 500. Micro companies had the largest annual increase at 10%, as well as the greatest increase during the past several years.

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Source : https://www.hrdive.com/news/public-company-director-pay-continues-to-grow-amid-scrutiny/739290/