The average annual pay of a FTSE100 non-executive is now £40,000 at companies that have reviewed pay levels over the past 12 months.

The pay rises reflect the increased responsibilities placed on non-executives following a review of the sector by Sir Derek Higgs last year.

The findings form part of the executive reward survey 2004 by consultants Watson Wyatt, which looked at non-executive pay at 84 companies, including those in the FTSE100.

Since the Higgs report boards have been keen to employ accountants to ensure technical ability in the eyes of investors. John Coombe, outgoing finance director of Glaxosmithkline, recently joined GUS as a non-executive director.