Pay for non-executive directors continued to slow in the last year, according to a new study.

The study, from professional services firm PricewaterhouseCoopers, showed that fees rose by 15.6%, down from 16.7% in 2006-07 and 25% in 2005-06.

The median average annual fee for a FTSE 100 non-executive chairman was £313,000 and £65,000 for a non-executive director.

Sean O’Hare, partner at PricewaterhouseCoopers, told the Financial Times: “The rate of fee increase is levelling off as non-executive directors and the boards that employ them are working harder to balance fees with responsibilities that come with the role.”