COMPENSATION RESOURCES, INC. RELEASES ITS 2012-2013 BOARD OF DIRECTORS COMPENSATION SURVEY
By: Paul R. Dorf, APD, CRI
Compensation Resources, Inc. (CRI) has released the results of its 2012-2013 Board of Directors Compensation Survey. Data was collected between October 2012 through January 2013 and compiled from survey questions that were developed by CRI and distributed to companies in in a variety of industrial classifications. There were 92 organizations that participated in this study.
The survey is divided into two (2) major sections: data reported specifically by for-profit respondents, and data reported by not-for-profit respondents. Typically, compensation is provided to Board members of for-profit companies, while members of Boards of not-for-profit organizations are generally volunteers and thus do not receive any compensation. However, there are certain similarities that can be seen in the policies and practices implemented by Boards across both categories.
- Frequency of Board meetings: On average, for-profit and not-for-profit organizations hold Board meetings most likely on a bi-monthly basis, with for-profit companies having, on average, five (5) meetings per year, with not-for-profit organizations meeting seven (7) times per year.
- Audit Committee: Both for-profit and not-for-profit survey respondents average four (4) Audit Committee meetings per year.
- Compensation Committee Authority on Executive Pay: Both categories of respondents report that their Compensation Committees make recommendations to the full Board, which is then responsible for approving actions on executive compensation.
- On-Going Board Education: Both for-profit and not-for-profit respondents reported similarly that they have a process for on-going education of its Board members, although its prevalence is greater in not-for-profit organizations.
The cost of the survey is $175. The survey is available for download or hard copy purchase at www.compensationresources.com.
For more information regarding this survey or to learn more about our other survey offerings, please contact Andy Sellers, Data Services Manager, at (201) 934-0505 x115.