PAY RAISES FOR CORPORATE DIRECTORS

The average director in a top United States financial corporation got a 16 percent pay jump to $19,800 last year. But the pay increase for directors of manufacturing companies was 9 percent to $24,000, according to an annual study by the Conference Board. The median figure for nonfinancial service firms stayed basically unchanged, at $17,600.

The study, covering 909 companies in 47 industries, showed 42 percent of the companies boosting pay for outside directors in 1988.

Jeremy Bacon of the board sees ``competitive pressure pushing director compensation higher.'' But he also notes that directors ``are putting in longer hours than ever before and making tough calls.''

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...