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Surprise! Women on the board earn more

Abridged: Business Week

NEW YORK, NY -- In its annual director pay survey, The Corporate Library, a corporate governance and executive compensation research group, reports the median earnings for female corporate directors is $120,000. That's about $15,000 higher than the median total compensation for male directors, which is $104,375.

"I was so surprised by the statistic," says Paul Hodgson, senior research associate for The Corporate Library, who authored the study, which looked at the pay of more than 25,000 directors at more than 3,200 companies. Not that women's representation on boards is that exceptional. The average board has 11 members. 91% of S&P 500 companies have at least one woman, according to executive search firm Spencer Stuart. But just 15% of boards have three or more female directors.

In the meantime, if you're planning to join a board, it pays to have a fancy title. The median total compensation for judges, at $344,953, was the highest among directors with titles. Knights get the next highest pay, at $164,636. And the lowest title premium? It goes to medical doctors. At $105,181, their median total compensation isn't far from the overall median.

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