Board remuneration survey 2018

Norwegian Board Chairs’ remuneration on average 5-10% of CEO compensation.

Styrehonorarundersøkelsen 2018Styrehonorarundersøkelsen 2018The Norwegian Institute of Directors makes an annual survey of Board remuneration in Norwegian listed companies and state-owned companies. For 2018 the survey comprises 203 companies, of which 155 listed and 48 partially or wholly state-owned.

The survey covers remuneration for board positions, sub committees, election committees and employee elected board members.

The average Board Chair remuneration in listed companies is NOK 547 200 in the 2018 survey, and NOK 285 600 in state-owned companies.

In three of the largest Norwegian companies; DNB, Telenor, Equinor, the Board Chair remuneration ranges between NOK 518000-760000 for a job that in a ‘normal’ year is estimated at 40% capacity.

Given the fact that Board Chairs in these positions needs to be available and flexible for additional, most often unplanned events and initiatives, and cannot have regular employment outside their board responsibilities, it is legitimate to question whether the difference between compensation and required work effort is too large.

Our perception is that development in board remuneration for many years has been lagging behind the development in top leader pay.

It is our view that there should be a better balance between pay and effort in order to attract and retain the right board candidates and competences also in the future.

Read the full Board remuneration suvery 2018 (members only)

 

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