It's a lot of work being on a board of directors. You have responsibilities too.
Actually, it's more about responsibilities than work. Believe me, I've been a director.
Take the big banks, for instance. With all their problems they must have a lot of board meetings. Talk about work and responsibility. Forget the compensation, it's not worth it.
Well, maybe it is for some directors. After all, these days a few hundred thousand dollars a year for making a bunch of meeting in exotic places – sometimes – and staying at top notch resorts and hotels, and eating all that rich food, is still worth the tip money.
According to compensation data firm Equilar, in 2011, the last year Goldman Sachs' numbers were available, they paid their 13 directors an average of $488,709, annually.
That's up 50% from 2008, which was a not such a good year. But it pales in comparison to 2007, which was a very good year, when directors averaged $670,295.
Here is just a sampling of compensation figures.