Corporate Law
At $200K Median Pay, Directors May Not Be Getting Enough, Wachtell Partner Says
The median annual pay for outside corporate directors topped $200,000 in 2009, reports the DealBook blog of the New York Times.
But the already-well-to-do folks who typically fill the seats on the governing bodies of United States companies still may not be getting enough to compensate them for the work and the risk of liability associated with the job, says a partner of Wachtell Lipton Rosen & Katz.
In a memo to clients of the renowned New York law firm, partner Jeremy Goldstein says companies should hence consider upping the ante, “to secure top-notch directors,” the blog post notes.
