Non-exec pay rises fall again
PricewaterhouseCoopers have found that pay rises for non-execs have slowed for the second year in succession. Over the past year fees average fees were 15.6% compared to 16.7% in 2006-7 and 25% the year before.
Not only are the rates of pay decreasing but non-execs are also coming under increasing pressure to provide value for money.
Sean O’Hare, a partner at PwC commented, “The rate of fee increase in levelling off as non-executive directors and the boards that employ them are working harder to balance fees with responsibilities that come with the role.”
The PwC partner also predicted that in the future there would be more focus on the disclosure on the effectiveness of non-execs, as well as their wage packets.
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