SOURCE: The Corporate Library

November 19, 2008 13:40 ET

S&P 500 Board Compensation Averages More Than $2 Million per Company

PORTLAND, ME--(Marketwire - November 19, 2008) - S&P 500 index companies spent an average of more than $2 million on board compensation last year according to preliminary findings of a director pay survey by The Corporate Library, now in its tenth year as a fully independent corporate governance research and advisory firm. The survey is based on compensation data from more than 3,000 public companies and 27,000 directors, making it the most comprehensive analysis of director pay available.

Other preliminary findings of the survey include:

--  the median increase in total board compensation was just under 11
    percent;
--  the median increase in compensation for individual directors was
    almost 12 percent;
--  this is the third year of double-digit increases for directors and
    boards, though the rate of increase appears to have slowed;
--  median total board compensation for the S&P 500 is over $2,000,000;
    and
--  median total compensation for individual directors of S&P 500
    companies is just under $200,000.
    

The report, titled The Corporate Library's Preliminary 2008 Directory Pay Survey, is available for $45 from The Corporate Library's online store at www.thecorporatelibrary.com. The full report will be released in early December. To reserve a copy of the full survey, please contact Drew Buckley at (207) 553-5666 or dbuckley@thecorporatelibrary.com.

About The Corporate Library

Now celebrating its tenth year, The Corporate Library is an independent research firm that provides corporate governance information products, research services and data to a broad variety of clients including institutional investors, corporations, D&O liability insurers, law firms, accounting firms, executive search firms, academic institutions and the media. The Corporate Library produces the definitive ratings of U.S. corporate boards of directors, allowing businesses that subscribe to the service to evaluate governance as an element of investment and other risk. The Corporate Library is also a leading publisher of corporate governance reports and studies, including reports on CEO employment contracts, governance practices, mutual fund proxy voting, and executive and director compensation, which its analysts compile using its extensive database of over 3,200 public companies and over 47,000 executives and directors. Additional information on The Corporate Library and its suite of online corporate governance data and analysis products can be found on its website at www.thecorporatelibrary.com.

Contact Information

  • Contact:
    Cheri Grimmett
    Media Relations
    The Corporate Library
    Email Contact
    207 553-5604