NZX Director Remuneration Guide FY2022

Q: How much did NZX directors earn in FY2022?

The average NZX director fee in FY2022 was approximately $103,307 per year across 459 directors at 88 companies.

Q: What was the highest director fee on the NZX in FY2022?

The highest director fee recorded in FY2022 was $1,123,049.

Q: Do NZX directors get paid extra for committee work?

Yes, most NZX directors receive additional fees for chairing or serving on board committees such as Audit & Risk, Remuneration, and Nomination committees. Committee chair fees typically range from $10,000 to $25,000 annually.

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Insights/Director Pay/FY2022

NZX Director Pay FY2022

Board remuneration across 88 NZX-listed companies

FY2021 All Years FY2023

We analyzed remuneration data from 459 directors across 88 NZX-listed companies for financial year 2022.

$103,307

Average Fee

$90,000

Median Fee

$1,123,049

Highest Fee

459

Directors

Top Earning Directors (FY2022)

Highest paid board members in FY2022 — 546 fee records across 88 companies

Rank	Director	Company	Total Fee
1	Glenn Milnes	IKE ikeGPS Group Limited (IKE)	$1,123,049
2	Brent Robinson	RAK Rakon Limited (RAK)	$899,700
3	Peter McBride	FCG Fonterra Co-operative Group Limited (FCG)	$446,122
4	Elizabeth Coutts

Director Pay by Sector (FY2022)

Average director fees across industries

Materials$199,621

23 fee records

Communication Services$133,212

13 fee records

Utilities$128,082

42 fee records

Information Technology$117,754

35 fee records

Director Fee Ranges (FY2022)

$10,417

Minimum Fee

Smaller companies, partial year

$90,000

Median Fee

Typical mid-cap company

$1,123,049

Maximum Fee

Large cap chair/committee roles

Key Insights — FY2022

Chair Premium

Board chairs earn approximately 50% more than regular directors on average, reflecting their leadership responsibilities.

Coverage

FY2022 covers 546 fee records across 459 directors at 88 companies.

Sector Variation

Materials pays the highest average director fees at $199,621. Real Estate pays the least at $82,378.

Research Director Pay on NZXplorer

Company Profiles: Visit any company page to see director fees in the board composition section.
Director Profiles: View individual director profiles to see remuneration across all board positions.
Pay for Failure: Check our Pay for Failure analysis to see if director pay aligns with performance.
All Years: View all annual reports to compare trends over time.

Data sourced from NZX company annual reports. Last updated: 20 April 2026.

Related Insights

Compensation Benchmarks

Board fee and executive pay percentiles by sector and market cap

Chair Remuneration Benchmarking

Chair premium vs NED fees by sector, market cap, and gender. Per-company outlier detection. First chair pay analysis in NZ.

Board Fee Trends: Above & Below Average

Which NZX companies consistently pay above or below market rates for director fees over time?

Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.