Watson Wyatt Data Services recently released its 08/09 Survey on Board of Director Compensation, which reflects the practices of 735 boards, including 510 that are "matched" (to previous year data). While survey reveals 2008 practices and not plans for 2009, it is interesting to see the level of compensation increases reported in light of what is happening today for workers overall.
A few key findings:
68% of responding organizations increased outside director compensation in 2008.
Across all matched organizations, meeting fees rose 7% (although, notably, among just those organizations that raised meeting fees, the average increase was 90% - reflecting the fact that meeting fees, when they are adjusted, tend to move in sizeable increments).
Across all matched organizations, annual retainers increased 11% (but among those organizations adjusting retainers in 2008, the average increase was 43%).
For those seeking detailed data on board compensation practices, Watson Wyatt Data Services' report is a good source but so is the annual survey published by the National Association of Corporate Directors.