Singapore non-executive directors received 9.8% more in fees for last financial year
Fees for non-executive directors in Singapore rose last year as a result of stricter regulatory rules and a shortage of qualified people, according to a report by global management consultancy Hay Group.
It said the median annual fees for non-executive directors increased to $56,000 for the 12 months to Sep 30 last year, a 9.8 per cent rise over the same period the previous year.
The biggest jump in fees came from small-sized companies, defined as those with a market value of less than $500 million. Such firms offered their non-executive directors a median fee of $50,000 for the year ended Sep 30 last year, up from $47,000 the year before.
Medium-sized companies - with a market capitalisation of between $500 million and $3 billion - raised their annual non-executive director fees only slightly in the period, to a median of $65,000 from $64,000 a year ago.