Directors of major American companies took home on average $204,000 last year, a hike of 12 per cent and the third year running that growth has been in double digits. Yet there may be even more growth to come, a new survey has predicted.
The report from compensation consultancy Pearl Meyer & Partners was based on 2006 public filings by the 200 largest U.S. industrial and services companies.
Director pay, it found, now tops $100,000 at all but six of the major companies studied and exceeds $400,000 at nine companies.
"Director pay will continue to grow, in tandem with boards' more public and activist role in corporate oversight," said Joseph Rich, Pearl Meyer & Partners president.
"The structure of pay is also changing, as boards parallel a trend in executive pay programs by shifting more of their own equity-based compensation from stock options into full-value grants," he added.
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