Board compensation averaged more than $2 million among the Standard & Poor’s 500 companies, producing a 12-percent median increase for individual directors, according to a survey by the Corporate Library.
The Portland, Me.-based independent research firm said that the median increase in total board compensation was just under 11 percent. The survey results pointed to the third year of double-digit increases for directors and boards, the Library said.
It bases its results on data collected from more than 3,000 public companies and 27,000 directors.
Median total compensation for individual directors in the S&P 500 was just under $200,000, according to the research. The Corporate Library plans to publish its full report in early December.