Board member, company salary

Salary for a Board Member in a Company

Being a board member in a company entails playing a crucial role in the company's strategic direction and overall governance. In terms of salary, it is an attractive profession with an average monthly income of 53 200 kronor. However, there is a gender pay gap; men earn an average of 58 100 kronor while women earn 49 900 kronor, meaning that women earn 86 percent of what men do. The hourly wage for a board member, based on 166 working hours per month, is 320 kronor.

Salary Development and Variances

The salary for board members has seen a slight increase from 52 700 to 53 200 kronor compared to previous measurements. The highest salaries in this professional group can reach up to 61800 kronor for men with a post-secondary education of three years or more, while women in the same position can earn up to 53100 kronor. At the lower end of the salary scale, women with a high school education (up to two years) earn 43000 kronor, and men with similar qualifications earn 43500 kronor.

Job Responsibilities for a Board Member, Company

As a board member in a company, one is responsible for participating in the development of the company's long-term goals and strategies. The role involves making important decisions about the company's business plans, budgets, and other critical business issues. The board also oversees the management's performance and ensures that the company complies with laws and regulations.

Education and Qualifications

To become a board member in a company, a strong background in economics, business administration, or related fields is usually required. Many board members have a post-secondary education, often of at least three years. Experience in leadership positions in the business sector is also a common qualification. Understanding the company's industry and the challenges it faces is also important.

Future Prospects and Job Market

According to the Swedish Public Employment Service's assessment, the opportunities for work as a business economist, which includes a board member, are moderate. Over a five-year period, demand is expected to remain unchanged. The recruitment situation is balanced, indicating that there is neither an excess nor a shortage of candidates in this field.

Working Conditions and Benefits

Working conditions for a board member can vary depending on the company's size and industry. Many board members have the flexibility to work from home and may also have access to company benefits such as paid training and a company mobile phone. However, it is important to note that the role often entails significant responsibility and may require a lot of time and commitment.

Challenges and Competition

The role of a board member can pose some challenges. It is important to be able to make well-informed decisions under pressure and to handle conflicts within the board or with company management. Competition for these positions can be tough, especially in larger companies where experience and networks often play a crucial role in the recruitment process.

Considerations for Aspiring Board Members

For those considering becoming a board member, it is important to build a strong network within the business sector and stay updated on industry trends. Developing leadership skills and a deep understanding of financial reports and corporate governance can also be advantageous. Having a mentor in the field can provide valuable insights and support.