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There is a little bit of confusion about non Executive Director remuneration Australia. Non-Executive Directors do not normally receive any type of remuneration, other than their services as a board member. They are required to participate in company-board meetings of the standing committees of management and also serve on the standing committees of management and also of shareholders. Sometimes they can also receive awards from time to time and these are referred to as ‘per diem’ awards. The actual amount of remuneration that they receive may be from time to time depending on the need and the standing of the person concerned.
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There are companies who actually set up a number of executive positions without appointing any directors. It’s very much like a company within a company, whereby there are a number of executives and one director. The non-executive directors normally hold different senior positions within the business. The remuneration they receive is quite often a combination of salaries and bonuses.
It’s really important for all directors to understand their exact role and what their remuneration actually is. If you are considering seeking employment in this industry, it’s absolutely essential that you clarify exactly what the terms of your remuneration are. Also make sure that you are aware of any deadlines or other regulations in relation to your employment. You need to also always remember that there are also directors’ fees which you could be charged if you end up being unable to continue working in Australia.