News Flash- Fund Directors' Salaries Up 13% to a Median $128,000
May 10, 2004
Separate studies by Equilar, a compensation specialist, and investment consultant Management Practice have both found that directors' salaries mostly held their ground and in some cases inched up in spite of high-profile regulatory probes of corporate boardrooms. Median salaries of trustees at the nation's 50 largest fund families grew by 13% last year to $128,000 from $113,000 in the previous year, according to Management Practice. Growing criticism of trustees who were charged with accepting lofty salaries to rubber stamp requests by management to raise fees paid by investors has failed to shame trustees into taking pay cuts, according to both reports.
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