Non-Executive Director Fee Guide

The data within this report has been gathered from searches that Sayer Haworth have been engaged on, supported by data within annual reports in the public domain.

Non-executive Director


Fixed Fee INED £ Median £
Foreign Subsidiary Bank 40,000 – 70,000 53,200
Established Challenger Bank 50,000 – 80,000 62,500
Building Societies 25,000 – 55,000 32,000
Listed SME Bank 70,000 – 95,000 76,500
New Start-up Bank* 35,000 – 65,000 42,700

*on gaining of license, fees move to an established INED fee depending on the segment focus



Fixed Fee Chairperson £ Median £
Foreign Subsidiary Bank 50,000 – 110,000 92,000
Established Challenger Bank 125,000 – 185,000 152,000
Large Building Societies 172,000 – 196,000 175,000
Small Building Societies 37,000 – 55,000 37,500
Listed SME Bank 180,000 – 210,000 186,000
New Start-up Bank* 80,000 – 150,000 123,000

*on gaining of license, fees move to an established fee depending on the segment focus


Chair of Committee Fees

In the instance where an individual holds a Chair of a Committee or is a Senior Independent Director (SID), which carries an SMF responsibility, there is an average additional annual fee of between £6,000 – £15,000 on top of the standard annual fee for all INED’s.  Within the small building societies, the general trend was no additional fees for extra responsibilities.

Within the publicly listed Banks Chair of Committee fees rose to £20,000 per annum.  The Chair of the Audit and Risk Committee also has a general trend of being awarded a higher annual Fee due to the associated risks.


Membership of a Committee Fee

Membership of a committee Fee levels range from £5,000 – £10,000 per annum.  The small building societies, the general trend was no additional fee for extra responsibilities.


PAYE v Contract

With IR35, the general trend is that fees are paid through PAYE, to be compliant with this legislation.

The trend of paying through PAYE has been common practice for a number of firms even before IR35 was a topic.



With the role being an appointee and not an employee, the benefits on offer to employees is not offered.  This has been a common question of debate where Fees are paid through PAYE.



Expenses incurred to attend Board Meetings is dependent on where the place of work is stated on the contract.  If the place of work is the location of the majority of Board Meetings, any expenses claimed for travel is taxable and included within a P11D.


Sayer Haworth Board Appointments contacts:

James Sayer – Managing Partner

James SayerJames has been within Executive Search in the Financial Services sector for over 20 years, having lived and worked in the UK, Europe and the Middle East. James has acted as a trusted business partner to source Board and Executive talent within SME Banks. James focuses on forming long-term partnerships with his clients in order to offer a truly consultative service built on time investment, integrity and a considered service delivery to generate the right solution.



Tel: +44 (0) 203 751 6260

Mob: +44 (0) 7951 966 0777


Andrea Mynard – Practice Leader

Andrea MynardAndrea has worked in the sector for more than 20 years.   Andrea delivers a uniquely personalised service – focusing on understanding a client’s needs and matching requirements with a tailored search including market mapping, identification of talent, engagement and screening.



Tel: +44 (0) 203 751 6260

Mob: +44 (0) 7712 877 384


To download this guide, please click here

James Sayer