WOB's Executive Chair Ruth Medd has put together a Director Remuneration Guide to help with your boardroom journey.
In it, Ruth explains that typically, director remuneration paid to a board is the same for each board member plus additional fees for committee work done. The Chair usually receives a higher fee.
Unlike executive remuneration, which can vary widely between roles, all directors on a board receive the same base fee and the same fee for their committee roles.
Ruth also explains how remuneration is set. It is usually set at the AGM and remains unchanged for a number of years as boards are reluctant to ask shareholders for a pay rise too often. Shareholders can be resistant to director remuneration increases. The remuneration agreed at the AGM is usually a total amount, which gives some flexibility to accommodate new appointments or additional committee roles.
To find out in more details what directors are remunerated in different sectors, with more examples and tips, read Ruths Director Remuneration Guide here.