NZX Director Remuneration Guide FY2024

Q: How much did NZX directors earn in FY2024?

The average NZX director fee in FY2024 was approximately $120,176 per year across 518 directors at 97 companies.

Q: What was the highest director fee on the NZX in FY2024?

The highest director fee recorded in FY2024 was $1,712,714.

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/FY2024

NZX Director Pay FY2024

Board remuneration across 97 NZX-listed companies

FY2023 All Years FY2025

We analyzed remuneration data from 518 directors across 97 NZX-listed companies for financial year 2024.

$120,176

Average Fee

$97,500

Median Fee

$1,712,714

Highest Fee

518

Directors

Top Earning Directors (FY2024)

Highest paid board members in FY2024 — 612 fee records across 97 companies

Rank	Director	Company	Total Fee
1	Robert Freeman	AFI Australian Foundation Investment Company Limited (AFI)	$1,712,714
2	Glenn Milnes	IKE ikeGPS Group Limited (IKE)	$1,310,646
3	Steven Gregg	WBC Westpac Banking Corporation (WBC)	$823,000
4

Director Pay by Sector (FY2024)

Average director fees across industries

Materials$190,416

30 fee records

Communication Services$153,876

26 fee records

Utilities$148,841

51 fee records

Industrials$128,140

93 fee records

Director Fee Ranges (FY2024)

$10,151

Minimum Fee

Smaller companies, partial year

$97,500

Median Fee

Typical mid-cap company

$1,712,714

Maximum Fee

Large cap chair/committee roles

Key Insights — FY2024

Chair Premium

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

Coverage

FY2024 covers 612 fee records across 518 directors at 97 companies.

Sector Variation

Materials pays the highest average director fees at $190,416. Information Technology pays the least at $93,647.

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.