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by vlovich123
1477 days ago
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That's not accurate. The board meets maybe 4 times a year. Let's be generous and say they work one full calendar month of the year. That means their pro-rated stipend is actually 1.2 M/year. Google employees who only choose to work one month of the year can do so, but the median salary would be 16k dollars. AFAIK board members don't put in a month's worth of work so that 1.2 M/year is an underestimate. They also can sit on multiple boards simultaneously whereas moonlighting in multiple companies is not generally possible in the same way. |
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But, to your point regarding prorated comp: I've been a salaried employee at a company like Google. I've also been a board member.
First, like many senior tech employees my total comp market rate is in the seven figures. A pro-rated 1.2M stipend would be appropriate to compensate me for my time. The average board retainer for less profitable companies is closer to $30k/yr. These are not entry level positions and the retainers are shockingly low in the vast majority of cases. (In my case, I'm on the board of a non-profit and I actually pay them)
Second, I think you are underestimating how little some salaried workers actually work. I think if you try you can find more than a few Google employees who only work one month a year ;) Conversely: I work far harder in my role as a board member than I used to in my salaried role. It's different for everyone of course, but I assure you no one is seeking out board seat retainers as a way to get rich. It's just not worth it.