Pay for board members at the most prominent US companies held steady last year for the first time in more than a decade, says The WalI Street Journal. Analysis by consultancy Compensation Advisory Partners of the 100 biggest publicly traded US firms by revenue found that the median pay for directors in 2020 was $310,000, unchanged from 2020 and up from $305,000 in 2019. Board pay was trimmed at some firms during the pandemic to show that directors shared in their companies' struggles.
However, that is set to change, with some companies moving to raise pay this year, citing that boards have been sitting more frequently due to Covid-19 and the greater focus on environmental, social, and governance (ESG) issues. At least one committee has already recommended paying the directors a one-off bonus to recognize their increased workload.
Kris Paterson is a writer for WhatJobs.com.
