An inductor element containing circuit board of the present invention comprises a plurality of conductive layers, and a conductor having an inductor function (inductor conductor segment) in one or more of the conductive layers, wherein at least part of the inductor conductor segment is made thicker than other conductors disposed within the circuit board. The at least part of the inductor conductor segment extends through an insulating layer disposed between the conductive layers, or is embedded in the insulating layer, wherein the part of the inductor conductor segment has a thickness one-half or more the thickness of the insulating layer. A power amplifier module of the present invention comprises the multi-layer circuit board, a semiconductor amplifier fabricated in the multi-layer circuit board, and an impedance matching circuit coupled to the output of the semiconductor amplifier. The impedance matching circuit has a portion thereof formed of the inductor conductor segment.