BOSTON (Reuters) - Pay for outside directors at large U.S. companies reached a record $250,000 last year, driven by higher stock values, according to a study released on Thursday by consulting firm Towers Watson.
In its annual analysis of Fortune 500 companies, the firm found median total compensation for outside directors in 2014 including cash and stock awards rose 4 percent from 2013.
Paul Conley, a Towers Watson division leader, said director pay has been rising in the face of new financial regulations and because of public attention to executive pay and other questions of corporate governance overseen by company boards.
CEO pay "is not just a highly charged topic, but it also means increased responsibilities" for directors who oversee how much executives receive, Conley said.
The median value of cash compensation for the directors remained flat at $100,000 in 2014, Towers Watson found, leaving higher stock values to deliver the overall increase compared with 2013.
Among Fortune 500 companies, directors in the health care sector were paid the most, with a median total compensation of $285,785, followed by directors at energy and information technology companies, whose median total compensation was $279,548 and $275,587, respectively.
Directors at utility companies made the least, with median total compensation of $228,329, Towers Watson found.
