A compound represented by the Formula below is provided.(in Formula (1), X denotes a divalent linking group, R1 and R2 independently denote an alkyl group having 3 or more carbons and having at least one hydroxy group or an aralkyl group having 8 or more carbons and having at least one hydroxy group, the alkyl group and aralkyl group may have a substituent, and M denotes a hydrogen atom or a cation). There is also provided a polyurethane resin obtained by polymerization of a polyisocyanate and a polyol that includes the compound. There is also provided a magnetic recording medium that includes a non-magnetic support and, above the support, at least one magnetic layer including a ferromagnetic powder dispersed in a binder that includes the polyurethane resin. There is also provided a magnetic recording medium that includes a non-magnetic support, above the support at least one non-magnetic layer including a non-magnetic powder dispersed in a binder (1), and, above the non-magnetic layer, at least one magnetic layer having a ferromagnetic powder dispersed in a binder (2), in which binder (1) and/or binder (2) is the polyurethane resin.