2024 S&P 500 and TSX 60 Board of Directors compensation comparison 

• Board member compensation
• Non-executive board chair (board chair) compensation
• Board chair premium compensation
• Committee member compensation
• Committee chair compensation

Methodology

For the S&P 500 and TSX 60, years in the analysis represent the following company fiscal year end dates:

Total compensation = annual cash retainer + total meeting fees + annual equity

Pay type prevalence is very similar between the S&P 500 and TSX 60; however, in the S&P 500, equity comprises a larger portion of the pay mix.

US S&P 500

Cash retainers and equity are used by almost all companies while meeting fees are a minority practice. Almost two-thirds of total compensation is delivered in equity. 

Canada TSX 60

Cash retainers and equity are used by almost all companies while meeting fees are a minority practice. Slightly over half of total compensation is delivered in equity.

_{Data represents compensation for being a member of the board. Does not include additional compensation for being a committee member.}

Pay type prevalence and pay mix are similar; TSX 60 board chair compensation is higher relative to standard board members than in the S&P 500

US S&P 500

Cash retainers and equity are used by almost all companies while meeting fees are a minority practice. Slightly over half of total compensation is delivered in equity.

Canada TSX 60

Cash retainers and equity are used by almost all companies while meeting fees are a minority practice. Half of total compensation is delivered in equity and half in cash. 

Cash is the most common vehicle to deliver premiums in both groups, although, the S&P 500 relies on cash more heavily

US S&P 500

Cash retainer premiums are used by twice as many companies as equity premiums, resulting in roughly three-quarters of premium compensation being delivered in cash, on average. 

Canada TSX 60

Cash retainer and equity premiums are used by the majority of companies. On average, over half of premium compensation is delivered in cash.

_{^*Premium is the difference in pay between a member and chair}

Pay prevalence is similar between the S&P 500 and TSX 60 — over half of companies pay audit committee members while less than half pay compensation and governance/nominating; audit members are the most highly compensated followed by compensation, then governance/nominating

_{Data represents additional compensation for being a member of a committee. Does not include compensation for being a board member.}

Pay prevalence is similar between the S&P 500 and TSX 60 — almost all companies pay committee chairs; audit committee chairs are the most highly compensated of the three committees followed by compensation, then governance/nominating

_{Data represents additional compensation for being a committee chair. Does not include compensation for being a member of the board.}

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