Striking the right balance with board pay is part science and part art.
Board of Directors compensation has remained flat over the past few years. Today board members are clearly spending more time on their board roles with full board meetings, committee meetings, teleconferences, and board education among other commitments. With Board composition, Board term limits, Board tenure, and Board age limits coming into play, we can count on more Directors “voted off the island,” which adds more complexity to an already time-consuming job. Increased demands coupled with the unique requirements of each board means that board pay should be fair, but not egregious. Farient Advisors provides a number of services to keep Boards of Directors’ compensation defensible and balanced. From Board peer reviews to developing compensation programs, to board evaluations we have worked with numerous companies across industries to make Board compensation relevant to the market, fair to board members, and a non-event for onlookers.