NZX Director Remuneration Guide FY2023

Q: How much did NZX directors earn in FY2023?

The average NZX director fee in FY2023 was approximately $115,206 per year across 488 directors at 95 companies.

Q: What was the highest director fee on the NZX in FY2023?

The highest director fee recorded in FY2023 was $927,000.

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/FY2023

NZX Director Pay FY2023

Board remuneration across 95 NZX-listed companies

FY2022 All Years FY2024

We analyzed remuneration data from 488 directors across 95 NZX-listed companies for financial year 2023.

$115,206

Average Fee

$97,917

Median Fee

$927,000

Highest Fee

488

Directors

Top Earning Directors (FY2023)

Highest paid board members in FY2023 — 584 fee records across 95 companies

Rank	Director	Company	Total Fee
1	James Richard Glasson	HLG Hallenstein Glasson Holdings Limited (HLG)	$927,000
2	John McFarlane	WBC Westpac Banking Corporation (WBC)	$858,421
3	Not provided in extracted text	AFI Australian Foundation Investment Company Limited (AFI)	$850,870

Director Pay by Sector (FY2023)

Average director fees across industries

Materials$160,895

19 fee records

Utilities$140,355

33 fee records

Communication Services$132,438

18 fee records

Industrials$130,247

92 fee records

Director Fee Ranges (FY2023)

$11,113

Minimum Fee

Smaller companies, partial year

$97,917

Median Fee

Typical mid-cap company

$927,000

Maximum Fee

Large cap chair/committee roles

Key Insights — FY2023

Chair Premium

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

Coverage

FY2023 covers 584 fee records across 488 directors at 95 companies.

Sector Variation

Materials pays the highest average director fees at $160,895. Information Technology pays the least at $99,377.

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.