Just wondering if board members to companies and ngo's are paid? Is it more of a status position? I am sure it depends on the situation but what criteria are common for a board member to actually get paid?
thanks
2007-12-01 06:30:41 · 8 answers · asked by Anonymous in Business & Finance ➔ Corporations
We pay chairman of the board, it is a lot of work to do free. He comes in about once a week to meet with the president where the other board members just come to stockholder meetings or are corp officers on salary so not paid extra.
Our chairman's father was chairman before him and his grandfather was a founder of the company. He is an attorney and wealthy as well as an owner but shouldn't have to give away his time.
2007-12-01 06:43:24 · answer #1 · answered by shipwreck 7 · 0⤊ 1⤋
If it is a Fortune 500 company they most certainly get paid. If it is an NGO I think it can go both ways depending upon the organization and the duties of the board position.
In many NGO's some of the board positions are for window dressing to add credibility to the mission of the NGO.
2007-12-01 06:39:18 · answer #2 · answered by Tom Z 7 · 1⤊ 0⤋
Hi
in companies yes - in NGO depends....
being a director of a company carries a lot of legal liabilities and with it comes big personal risks.. this needs to be renumerated.
many boards will also emoploy a non-exec - to advise the executive directors - a typical rate for a NED is £7k pa for 4-6 days pa
most NGO directors are either paid - or seconded by their employing company.
what criteria - easy the company being solvent - many directors are un-salaried while the company is growing - they have a legal responsibility to ensure the business is solvent.
many people aspire to being a director without realizing the personal risks if it goes wrong... and the legal responsibility they have for things like H&S and can go to jail for a breach!
2007-12-01 06:44:27 · answer #3 · answered by Mike M 4 · 1⤊ 0⤋
Most get a salary plus a benefits and bonuses based on the company's profit and loss statements. Every company has their own criteria and many board members negotiate their compensation before excepting the position.
Some companies, especially smaller non-profits, are not able to offer much additional compensation to board members and they earn just their regular salaries
2007-12-01 06:50:38 · answer #4 · answered by Shelly J 4 · 1⤊ 0⤋
Of course they're paid. Their position in a company is usually a top,high paying one. Being on the board just increases their status and power.
2007-12-01 06:38:38 · answer #5 · answered by Anonymous · 1⤊ 1⤋
I serve on the board for our local chamber of commerce and it is a volunteer position. Our school board is a volunteer position, but it seems to have more status, or clout. my brother's ministry has a board and they are unpaid as well.
These three examples are for nonprofit organizations - they are in place to guide the paid leaders in the work they do.
2007-12-01 06:40:54 · answer #6 · answered by Anonymous · 2⤊ 0⤋
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2016-09-30 09:30:52 · answer #7 · answered by ? 4 · 0⤊ 0⤋
mostly they are pais but also it depends on situation
for eg if RATAN TATA is member of an ngo he wont charge anything
2007-12-01 06:36:24 · answer #8 · answered by Shail Mehta 2 · 0⤊ 0⤋