New York (Aug. 16, 2004) -- Board members are working harder and taking on more responsibility, but they're taking home bigger paychecks for doing so, according to a new study by compensation consultants Pearl Meyer & Partners.

Following two straight years in which board pay at the top 200 U.S. industrial and service companies was nearly flat, the New York-based consultancy said that board compensation grew 13 percent to nearly $176,000 in 2003, as leading corporations moved to adapt director pay programs to a radically changed boardroom environment.

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