We compute mean waiting times between thermally activated magnetization reversals in a nanodisk with parameters similar to a free CoFeB layer used in magnetic random access memories. By combining Langer's theory and forward flux sampling simulations, we show that the Arrhenius prefactor can take values up to 10^{21} Hz, orders of magnitude beyond the value of 10^{9} Hz typically assumed, and varies drastically as a function of material parameters. We show that the prefactor behaves like an exponential of the activation energy, which highlights a case of the Meyer-Neldel compensation rule. This suggests that modeling information retention times with a barrier-independent prefactor in such magnetic storage elements is not justified.