Trends In Board Director Compensation
Note From Jim:
In connection with recent trends in compensation for public board directors, the average for those serving at the six biggest banks is $328,655 [In 2011 as reported by Equilar]. In comparison, the average director compensation at almost 500 publicly traded companies was $242,385 [in 2012 as reported by Spencer Stewart].
To entice your curiosity see article excerpts below. Better still, access the full article at The New York Times.
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The New York Times
At Banks, Board Pay Soars Amid Cutbacks
By SUSANNE CRAIG
EXCERPTS
Since the financial crisis, compensation for the directors of the nation’s biggest banks has continued to rise even as the banks themselves, facing difficult markets and regulatory pressures, are reining in bonuses and pay.
More broadly, banks and compensation experts say, financial firms must now pay a premium to entice and keep qualified directors.
“About the only thing bank directors have more of these days is meetings,” joked one senior Wall Street executive who has frequent interaction with his board....
All told, the average compensation for a director at one of the six biggest banks in 2011 was $328,655, according to Equilar. This compares with $232,142 at almost 500 publicly traded companies analyzed in a study by the executive search firm Spencer Stuart. In 2012, that number rose to $242,385.
Access Full Article And Other Great Stuff: http://dealbook.nytimes.com/2013/03/31/pay-for-boards-at-banks-soars-amid-cutbacks/?smid=pl-share
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