Sheffield executive director Ian Taylor says governance is increasingly seen as a viable alternative career path, allowing people to have strategic influence and value in companies. For many, being a director also gives them opportunities to network with people of similar seniority and corporate intellect, as well as be more flexible in what they devote their time to.
Many directors are on several boards, including at least one where they are unpaid and which tends to support a cause they have a personal attachment to. Taylor says current New Zealand directors' fees are fair for the market and many non-executive directors can earn a reasonable income.
"Businesses in New Zealand, generally speaking, work on pretty tight margins. The levels of efficiencies have to be very good here for a whole host of reasons. There's a backdrop of affordability behind this whole issue that needs to be appreciated as well."
Parallels can be drawn to professional consultancy in general; someone working for one of the Big Four consulting firms would be paid quite differently in New Zealand than in the United States or United Kingdom, Taylor says. "That reflects the size, scale, sophistication and complexity of the market here."
This extract is taken from an article, the full version of which can be found
here.
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