Median company director pay increased by 3% in 2024, averaging about $242,000 across public firms, according to a new report from the NACD and compensation and leadership consultancy Pearl Meyer.
Total direct compensation continues to grow amid rising expectations and responsibilities for corporate boards, the report found.
Based on data from 1,400 public companies across 24 industries, median total direct compensation ranged from nearly $165,000 at micro firms (between $50-$500 million in revenue) to more than $323,000 at the top 200 firms on the S&P 500. Micro companies had the largest annual increase at 10%, and showed the largest increase over the last several years.
“While year-over-year changes in board pay have been modest, the scrutiny boards face continues to increase,” Ryan Hourihan, report author and managing director at Pearl Meyer, said in a statement. “It’s important for boards to understand how they compare to market practice to ensure their programs are competitive and capable of attracting the caliber of director expected by shareholders.”