Earn $250K+ annually as an independent director [BOD]
The hidden job market is full of conventional and non-conventional opportunities to earn an income and make a meaningful impact on society. The focus of this article is targeting an independent (non-executive) director position on a corporate board of directors using the hidden job market.
Non-executive directors (independent directors) can earn up to $250,000 annually, and according to a Wall Street Journal video, director compensation has risen by 9.8% since 2013, amounting to $1.4B for the S&P Top 500.
Boards meet as little as once per month and it is estimated that some directors will work as little as five hours per week. However, it is important to understand the commitment before signing on the dotted line. Compensation is provided in the form of cash, restricted shares, options and other perks.
The idea of serving on a corporate board of directors is an exciting proposition for many. The chance to serve a company by shaping strategy, managing crises and overseeing CEO performance fills the job description for independent directors.
According to “Making a Living on Boards: Seven Ways to Earn Income as a Corporate Director” led by Tamara Paton through the Conference Board of Canada, there are many ways to serve a board of directors, including:
If you are looking for an opportunity to share your unique expertise on a board of directors, know what boards need and have a crystal clear value proposition to deliver to boards.
According to Ralph Ward, Publisher and Editor of Boardroom Insider the following roles are in hot demand today:
There is never a shortage of challenges for companies to manage, but cybersecurity is a hot topic today. In fact, it is estimated that the costs relative to cybersecurity will reach $6 trillion by 2021 according to Cybersecurity Ventures.
According to a Harvard Business Review study, 79% of board respondents said their organizations lack robust cybersecurity processes. If you have knowledge in this area, this is a perfect time for you to serve on a corporate board.
Of course, there are many areas of intelligence that boards require. Cybersecurity happens to be the one that is top of mind today because of the security breaches that have plagued many reputable and trustworthy brands, including Equifax and Deloitte.
Needless to say, financial and regulatory compliance expertise are always in demand today. Compensation consultants are also attractive because of their expertise in executive compensation, equity-based transactions, analysis of stock plans and much more. Someone with this knowledge, coupled with experience in mergers, acquisitions, and integrations is an attractive candidate for boards.
Researching to determine what expertise is missing on a board can be your opportunity to target a company directly through a direct connect campaign.
Knowing what expertise is missing is an effective way to directly target organizations that meet your criteria. At Word Right we have an entire package including templates and scripts that target decision makers directly.
Contact us today for information on a direct-connect campaign that puts you in the driver’s seat.
Here is what one of Word Right’s clients said:
“Thanks to Maureen, I've just landed two new board of director roles in my province. I firmly believe the killer resume and optimized LinkedIn profile she created for me has opened new doors to new opportunities. If you need a board seat, you need to call and work with Maureen!”
Martin W., Calgary, Alberta
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