How To Become A Board Of Directors Member: What It Is and Career Path

What is a board of directors member and how to become one

Updated January 8, 2025

4 min read

A board of directors member represents shareholders, or people that own stock in a company. All public companies, as well as some private corporations and nonprofits, need to have a board of directors to oversee their operations. Usually, members are elected by the shareholders. They make sure that the company operates in a way that benefits shareholders. Members of the board of directors hire and fire senior executives, such as CEOs and CFOs. They develop and review financial reports that track the company's health. Especially for companies that are smaller, members of the board of directors help executives find new opportunities for growth and advise them on strategic plans.

Not everyone can be nominated to be a board of directors member. Usually, they need to have many years of business experience, including experience as a top executive. Most have at least a bachelor's degree.

A board of directors member earns $53,198 a year on average, although those working for large companies earn much more. This is not paid out like a typical salary. Most board members earn a retainer, plus fees for every meeting and stock options.

ScoreBoard Of Directors MemberUS Average

Salary

5.4

Avg. Salary $69,241

Avg. Salary $59,228

Stability level

10.0

Growth rate 6%

Growth rate 0.3%

Diversity

1.6

Race

American Indian and Alaska Native 0.65%

Asian 7.72%

Black or African American 3.79%

Hispanic or Latino 7.85%

Unknown 3.90%

White 76.09%

Gender

female 45.09%

male 54.91%

Age - 52

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 52

Stress level

10.0

Stress level is very high

7.1 - high

Complexity level

10.0

Complexity level is advanced

7 - challenging

Work life balance

3.0

Work life balance is poor

6.4 - fair

Key steps to become a board of directors member

Explore board of directors member education requirements

Most common board of directors member degrees

Bachelor's

64.0 %

Master's

17.5 %

Associate

8.1 %

Start to develop specific board of directors member skills

Skills	Percentages
Financial Statements	16.05%
Non-Profit Organization	15.99%
Oversight	11.05%
Community Outreach	5.79%
Governance	5.28%

Research board of directors member duties and responsibilities

Manage all association's bookkeeping on QuickBooks.
Manage the application and qualification process with the IRS for the organization's 501c4 tax exempt status.
Assume leadership of demoralize congregation and accomplish a restoration of church membership confidence and public relations within the community.
Interface with OSHA, IRS, CPA external auditor, commercial banks, and outside vendors.

Get board of directors member experience

Generally, it takes more than 10 years to become a board of directors member. The most common roles before becoming a board of directors member include president, internship team lead and chairperson.

Prepare your board of directors member resume

When your background is strong enough, you can start writing your board of directors member resume.

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