Salary for indpendent director 🤔

Can someone let me know what does independent director do and what are they paid to do so . especially startups

17mo ago
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SnoozyWalrus
SnoozyWalrus

If it's cinema then 10 percent of the total budget

QuirkyNugget
QuirkyNugget

They can get anywhere from 30k per board meeting to a couple of lakhs per board meeting. There's an exam that you need to take to become an ID. Most IDs are made through networks.

DizzyMarshmallow
DizzyMarshmallow

Independent directors don't get salary.. they just get sitting fees to attend board meetings. They are paid for their time and expert opinions during board meeting. As They are not full time employees, salary is not applicable to them. One can become Independent director in multiple cos at a time. Many Sr. CEOs/ MDs, Sr. govt. employees make this their profession after retirement.

SillyMochi
SillyMochi

Janitor role, basically do everything, clean up the mess

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