For many executives, the transition from the C-suite to a board director career offers an appealing pathway to maintain involvement in the business community, while balancing work-life flexibility and generating additional income. But is this path as smooth and fulfilling as it seems?
The simple answer is: yes, it can be. Many seasoned professionals look to this career move as an opportunity to shift into a different way of working as they move into the later stages of their career. A board director role can allow you to give back, stay engaged with business, and share your expertise in a high-impact setting.
However, there’s a reality check to consider. Transitioning into a successful non-executive director (NED) career doesn’t happen overnight. It requires forward planning and strategic preparation. In fact, moving from a high-powered corporate role to a thriving board portfolio can take anywhere from 12 to 24 months. It’s not just about maintaining momentum—it’s about laying solid foundations.
Generating Income as a Board Director
One of the most attractive aspects of a board director career is the potential for substantial income, particularly for those who have had a successful corporate career. The amount of income you generate will depend on your experience, credentials, and where you’ve operated in your corporate life.
Many former executives who transition to board roles can expect to earn a significant income. Typical figures for those in their first 12 to 18 months range from $200,000 to $300,000 annually. In subsequent years, that number can increase to $300,000–$500,000, especially if you’re holding four quality board seats and supplementing your income with advisory work, mentoring, or other business activities.
For those seeking even higher levels of remuneration, serving in ASX environments or holding multiple high-profile board positions can generate income in the millions.
Is It a Stress-Free Path?
While a board director career offers many rewards, it’s not without its challenges. Serving as a NED means taking on fiduciary responsibilities, which include oversight of legal, financial, human capital, and asset-related matters. You must be prepared to manage the mechanics of a business at a strategic level. Understanding and mitigating risks is crucial, as is serving with the right people in the right roles.
However, for many former executives, the shift to board roles offers a more balanced way of working compared to the relentless pace of C-suite life. By selecting a mix of quality appointments, you can create a fulfilling portfolio career.
Different Approaches for Different Executives
Some executives prefer to hold several board seats and maintain a substantial income. Others are more focused on staying engaged with the business community, perhaps by serving on one or two strategic boards, often with a not-for-profit or smaller private company. This approach can still generate some income, but for many, the reward is about giving back and staying connected to the world of business.
For those in this latter group, the opportunity to serve and add value—without the high-stakes pressures of a full-time corporate role—makes a board director career a natural and rewarding transition.
Conclusion: Is It Worthwhile?
Absolutely. A board director career can provide flexibility, substantial income, and the ability to remain engaged in business in your later years. It offers a meaningful way to transition from corporate life into a new chapter of professional service, while ticking many of the boxes that executives look for in terms of lifestyle, impact, and income.
If you’re thinking about your next career move, now is the time to start planning your path to a board director portfolio. With careful preparation and the right approach, it could be the perfect next step in your career journey.