Swiss Boards Command Top Pay as Members Refuse ‘Peanuts’

Switzerland has the highest board fees in the world, the high fees are justified if you want to get the best people. If you pay peanuts you get monkeys.”

Partly due to the mighty franc, and partly a function of the nation’s extremely high salaries in general, the median compensation for board directors, which includes board fees, payment in shares, as well as bonuses and pensions for executive board members, is about 58 percent higher for Swiss companies than in the rest of Europe

The expectations of a board member have increased dramatically over the last decade, the world has changed, director jobs in Switzerland extending beyond supervising to leadership and strategy. The tasks of Swiss boards, especially at financial companies, are time intensive

With a average pay of $1.2 million per director, UBS’s board gets the highest pay of any company in the the Stoxx Europe 50.

Up until now, Swiss boards have had sole discretion over their own pay setting — that will all change

http://www.bloomberg.com/news/2014-10-30/swiss-boards-command-top-pay-as-members-refuse-peanuts-.html?alcmpid=markets

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