Why it’s troubling that Hong Kong board-member pay ranges from US$850 to US$1.67 million

AdvertisementHong Kong stock marketBusinessCompaniesWhy it’s troubling that Hong Kong board-member pay ranges from US$850 to US$1.67 millionFar wider disparity than other markets may indicate talent issues on the low end, lack of independence on the high end, lawmaker saysReading Time:3 minutesWhy you can trust SCMPThemis QiPublished: 11:30am, 15 Feb 2026The highest-paid independent non-executive director (INED) of a Hong Kong-listed company in 2024 made US$1.67 million, nearly 2,000 times what the lowest-paid INED received, drawing attention to a potential disconnect between pay and the responsibilities of the role.The lowest-paid INED received 6,000 yuan (US$867.94) in 2024, according to a survey by the Hong Kong Independent Non-Executive Director Association (HKINEDA), which was based on the 2024 annual reports of more than 2,600 listed companies.While some fee disparity was normal depending on specific role and skill set, the gulf among Hong Kong-listed companies was much wider than in other major markets, which could raise questions over the ability of INEDs to ensure strong governance and effective risk management, according to experts.Advertisement“Too wide of a disparity may indicate quality issues with attracting talent in the case of low fees, or a lack of independence if fees are too high,” said Robert Lee Wai-wang, lawmaker for financial services. “Striking a proper balance helps companies attract suitable personnel to join boards.”The company with the top-paid director was United Company Rusal, Russia’s largest aluminium producer, while the company with the lowest-paid director was Haina Intelligent Equipment International, a Fujian province-based producer of automated machines for manufacturing disposable hygiene products like baby diapers, according to the survey.AdvertisementPay for the top 10 earners in the association’s survey averaged HK$4.34 million (US$555,333), 202 times the average of HK$21,466 for the bottom 10. By comparison, retainers for US S&P 500 constituents last year ranged by a factor of 12, from US$28,000 to US$360,000, according to a report by recruitment firm Spencer Stuart.AdvertisementSelect VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x