“NED stands” for non-executive director and it means you advise the company board on strategic direction, technology, business models and operations based on your experience but you do not actively manage or work for the company. Thank goodness….
NEDs can be required to attend (in person, pre-corona…) 1 or 10 days a year of meeting working in this capacity either for free or for a day rate which is on average around £800 although ranges from £200 to £2k depending on size of the company and your experience.
And with all that being said it’s a dream role giving you an opportunity to pass on your experience and help others, learn about a new company or industry from the inside and also network often at a much higher level which brings it’s own rewards.
If that’s not compelling apparently the lunches and drinks are pretty good too…
One great starting point on your journey to becoming a NED is to start to network in that world and let the serendipity build up but at some point you’ve got to make it known you’re available and interested and one of the best ways of doing that would be to sign up with one of the select free good ned recruitment agencies london has to offer.
And with that in mind our big sister site rainmakrr.com has just published a guide to the best NED recruiters London has right now and we recommend you review and contact any companies on your list with obvious suitably positions vacant or who specialise in your industry or skill sets.
If you’ve never been a NED before we know its a massive jump and can feel like your not yet at that level, but if you’ve over 10 years experience – or much less if you are in a new industry like AI, Blockchain or Fintech – you may already have the experience to add value, so our recommendation is get on and do it. Because at the end of the day, we all want to be NEDS!