Directors fees stay static
Directors fees have stayed static in the last year, averaging $36,000.
The Institute of Directors 2013 Directors’ Fees Report has calculated the median fee for a non-executive director is still $36,000 over the last year.
Executive remuneration has traditionally risen by about 5% a year.
The median fee for a non-executive chairman increased 2.4% to $50,000.
The report is based on a survey of 991 organisations and 1,550 directors.
There were more women participating in the survey this year, representing 19.9% of the total sample, up from 17.3% last year.
Looking at non-executive roles on the board 13% of chairmen and 23% of directors were women.
But the gap between average fees paid to male and female non-executive directors remains quite large – $38,500 vs $25,000.
There’s also a $40,000 variance between the median fee of a non-executive director of an SOE ($25,000) and a private company ($65,000).
A non-executive director of an overseas owned company has a median fee of almost 50% more than that of a New Zealand owned company.
The average number of people on boards is six and the average term for a directorship is four years.
Just under 60% of the survey respondents were satisfied with their pay.