Last Updated Oct 14, 2010 4:59 PM EDT
This is the third year in a row that tech company board members led the race for the personal riches with an average annual compensation of $174,950 -- 6 percent up from last year, compared with an average increase of 2 percent. Not even directors at energy companies, at $139, 690, make as much. Here's the table:
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Again, what tremendous value are these people delivering in their part-time positions? Want a best practice? Look at Apple. Last year its directors were at the top of the pay heap -- and 88 percent of what they got was in the form of options. That was for delivering the type of performance Apple has provided.
Want to see how entirely screwy director compensation can be? Look at this table showing compensation by company annual revenue:
At least directors for tech companies get paid more when the companies get larger, not smaller. Yet, that's cold comfort. Not that shareholders can count on executives to push for changes when the board determines salaries at the top.
- Apple Directors Top Pay Heap; Some Other Companies Pay Much, Get Little
- Say on Pay Getting Strong Support from Tech Shareholders