| Sumario: | This study focuses on the existence or not of a gender pay gap (GPG) among non-executive directors (NEDs) in Spanish boards. For this purpose, we used a sample covering 4,018 positions/year for NEDs in 57 Spanish listed firms over a 10-year period (2013–2022). The results obtained suggest that, controlling for individual characteristics of the directors, the type of position held as well as the features of the company and its corporate governance system, female NEDs receive approximately 11% less remuneration than their male counterparts. Therefore, our findings do not support the idea that female directors are a scarce resource that firms compete for and reward. The results also highlight the need to differentiate by categories of directors when analysing the GPG in the board. In fact, we find that the GPG is higher for proprietary directors (around 18%) than for independent directors (around 6%). In terms of practical implications, our results may be of interest to policy-makers who are considering gender equity policies to break the glass ceiling.
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