Yes, Virginia, It Still Pays To Serve On A Board

Don't pity outside directors. Their jobs may be a lot harder these days than they used to be, when attendance at corporate meetings was largely a ceremonial function. But the rewards have gotten a lot juicier, according to a recent survey by Hewitt Associates of 100 large industrial corporations. The consulting firm reports that outside directors' total compensation, including stock and retirement benefits, "has begun to soar like a Patriot missile."

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