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Rating:Indy Directors Hear Cha-Ching Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 12, 2004

Indy Directors Hear Cha-Ching

by: Theresa Sim

Compensation for independent directors has increased by eight percent during the first half of this year, according to a recent study by Management Practice Inc. The data is according to public filings.

Although MPI has not yet released data on the number of hours that independent directors are logging, C. Meyrick Payne, a partner at MPI, told the WSJ. the WSJ: "[t]he increase is because of Sarbanes-Oxley, Spitzer and more board meetings."

Median pay for independent directors watching over 50 to 69 funds was $100,000.

In other trends, the disparity in pay between independent directors and independent chairmen increased from 25 to 50 percent higher last year to 50 to 100 percent higher at the 50 largest fund firms this year, Payne told the WSJ

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