July 6, 2007

Board member pay rises as director search gets harder

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It continues to get more expensive for a company to fund its board of directors these days.

According to The Conference Board Inc. – a business membership and research organization – total compensation for an outside (non-employee) board of directors in the United States increased about 25 percent in 2006. A survey of 402 companies nationwide showed all three industry sectors increasing their total compensation for boards. Total compensation includes fees, retainers, committee pay and all forms of stock compensation.

In manufacturing, median total compensation for outside directors went from $91,250 in 2005 to $109,000 in 2006. The service sector climbed from…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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