Goldman Sachs directors are getting a pay raise.
The New York Times reports that Goldman’s directors, who were already among the best-compensated corporate directors in the country, will receive an additional 500 shares, for 3,000 shares a year in compensation, according to a regulatory filing submitted Friday.
In 2012, the average compensation for a Goldman director was $447,622, according to compensation data provider Equilar. This was down from 2011 when the average compensation was $488,709. Still, some of the firm’s 13 directors made more than $500,000 in 2012 because they led a committee, which pays extra.
Goldman, in the filing, said directors received a raise because of the 'increase in demands' placed on directors 'particularly considering that during 2012 all them served on each of our board’s standing committees as well as the additional oversight responsibilities required by recent laws and regulations'.
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