Social Engagement: High
What’s What: While corporate board seats are hard to come by, the challenges and rewards can be substantial. Many former executives stay active in the business world by serving on a corporate board.
Amava Take: If you’ve built a top-flight career in business, finance, law or another management-level position, you could be compensated for your expertise, knowledge and work serving on a corporate board. While finding one of these slots is competitive, it might be just the right kind of intellectual stimulation for you.
From the Front Lines:
What kinds of candidates are you looking for to fill these jobs?
People with C-Suite decision-making experience, law, finance or compensation-related knowledge are assets to corporate boards.
Any tips for finding the right company fit?
Executives with broad corporate experience typically do well to serve on Boards from their sector, for example, a former medical devices CEO or COO would be a good fit for a medical devices company because of industry knowledge and contacts.
What’s a typical schedule like?
Meetings are quarterly and may involve travel, but most of our Board members spend about 4-5 hours a week advising executives and staying informed about our industry and our company.
From the Trenches:
What’s the most satisfying part of the job?
I love steering a company towards its goals. It’s very rewarding to help leaders see their strategies through.
How would you describe the hard parts?
It wasn’t super easy to immediately find a board seat that fit my qualifications. It took some networking.
What’s the advice you’ve given most often?
Transparency is always the right choice. Always.
Special Requirements: Current and former C-Suite executives and people with high-level compensation, regulatory or financial backgrounds are usually considered qualified candidates. Data regarding the qualifications of corporate board members is searchable.
Finding a Position: If you have an MBA, law degree or an undergraduate business or finance degree, check in with your school’s career office about opportunities. Rely on your network to find out what’s out there as well. Talk to people you’ve worked with and follow up with other people in industries where you have expertise or a particularly sought-after skillset. Tips for landing a board member position include refreshing your resume to emphasize collaboration over individual achievement. Both board and advisory board positions can be searched on specialized job boards as well as more comprehensive ones, but the best way to find a board position is to connect with people who know you and what you can contribute.