Chief executive pay on the Alternative Investment Market (AIM) broke through the £200,000 mark for the first time last year, with median pay at £200,352 compared to £190,300 in 2010, according to new research by Growth Company Investor. The survey found that despite a 25% decline in the AIM All-Share index, board pay also reached a record high, rising to £496,500 from £460,670. The research found that 16 chief executives of AIM-quoted companies earned over £1 million, and 90 were making more than £500,000. However, 32% saw their total pay fall last year, while 11% suffered a freeze. Finance directors have seen their median pay increase every year since 2003, and it now stands at £143,542. Over the eight-years since survey the started it has increased 69%, compared to 62% for chief executives and 54% for boards. Median pay for a non-executive chairman is £38,821. The survey also showed although chief executives at profitable companies tend to receive a higher salary than those at loss-making concerns (£223,991 compared to £177,356), some of the highest salaries go to the directors of loss-making operations. The highest-paid director on AIM, Gulf Keystone Petroleum executive chairman Todd Kozel, made £6.46m in 2010, mostly in the form of share-based payments, though the company lost $26m (£17m) during the period.