CIO and CTO Compensation and Role Re-Visited
Highest Paid CIOs and CTO over $1 million
It was only 1987 when the first Million Dollar CIO, DuWayne Peterson at Merrill Lynch, was identified. In 2014 we were able to identify 29 CIOs / CTOs that made over one million dollars a year. More recently, it is not unusual for these C-Level executives to reap total compensation of over $10 million. It is almost normal for these high-powered executives to be in that club. At the same time there now are several other C-level positions that have been created around technology.
These individuals grew into these high paying positions. That data shows salaries of the CIO/CTO is directly related to the experience level. From our data we found entry level CIOs and CTOs were paid approximately $150K. After about 10 years of experience salaries started to move up rapidly.
At about 10 years of experience as a CIO/CTO is when base salaries can begin to accelerate. At the same time, based on the enterprise the individual is working for bonuses, retirement programs, and equity participation magnify the total compensation they received.
C-Level roles and responsibilities
We have identified several titles which are at the C-Level which fall into the career path and compensation levels of these highly paid professionals.
- Chief Information Officer (CIO) is accountable for directing the information and data integrity of the enterprise and its groups and for all Information Technology functions of the enterprise. This includes all data centers, technical service centers, production scheduling functions, help desks, communication networks (voice and data), computer program development, mobile device interactions, and computer systems operations. He or she is responsible for maintaining the integrity of all electronic and optical books and records of the enterprise.
- Chief Experience Officer (CXO) is the executive responsible for the overall experience of customers, suppliers, partners, associates, and internal staff with an organization’s products and services. The individual drives the enterprise’s growth in the user experience arena. They oversee operations in all user experience sectors like marketing, image setting, mobile applications, social media, related technologies, virtual goods, as well as web-based management and marketing.
- Chief Security Officer (CSO) is responsible for the overall direction of all security functions associated with Information Technology applications, communications (voice and data), and computing services within the enterprise. At the same time, the CSO must be aware of the implications of legislated requirements that impact security for the enterprise.
- Chief Compliance Officer oversees the Corporate Compliance Program, functioning as an independent and objective body that reviews and evaluates compliance issues/concerns within the organization. The position ensures the Board of Directors, management and employees comply with the rules and regulations of regulatory agencies, that company policies and procedures are being followed, and that behavior in the organization meets the company’s Standards of Conduct
- Chief Mobility Officer (CMO) is responsible for the overall direction of all mobility issues associated with Information Technology applications, communications (voice and data), and computing services within the enterprise. At the same time, the CMO must be aware of the implications of IT and industry mobility trends.
- Chief Technology Officer’s (CTO) role is to align technology vision with business strategy by integrating company processes with the appropriate technologies. The Chief Technology Officer is also responsible for all aspects of developing and implementing technology initiatives within the organization. This individual maintains existing enterprise systems while providing direction in all technology-related issues in support of information operations and core company values.
- Chief Data Officer (CDO) is a strategic role for many different companies in many industries because data is having a dramatic impact on business. The most mature and most data-fluent organizations are now using data to determine new business opportunities and new products to develop as well as how to be more efficient, more productive, and more competitive. CDO's purpose is to break down barriers that remain between IT, the data function, and the business units.
- Chief Digital (CDO) often confused with the Chief Data Officer - helps a company drive growth by converting traditional "analog" businesses to digital ones and oversees operations in the rapidly changing digital sectors like mobile applications, social media, and related applications, virtual goods, as well as web-based information management and marketing. The CDO is not only a digital expert but also a seasoned general manager.
- Chief Product Officer is responsible for the design, development, and operations of the digital product across the entire enterprise and its operations. The Chief Product Officer helps a company drive growth in its product lines by managing the product life cycle and overseeing the rapidly changing applications environment. The Chief Product Officer is responsible for executing and evolving the enterprise’s product strategy based on performance & emerging company/consumer needs. This includes but is not limited to channel roles, content strategy, and social media drivers.
- Digital Brand Manager is responsible for digital consumer experiences across the entire enterprise and its operations. The Digital Brand Manager helps a company drive growth in its brands and product lines by converting traditional physical brand management processes to social media ones and oversees the rapidly changing digital sectors like mobile applications, social media, and internet-based marketing. The Digital Band Manager is responsible for executing and evolving the enterprise’s Social Media Strategy based on performance & emerging company/consumer needs. This includes but is not limited to channel roles, content strategy, and Social Persona Development
C-Level Compensations Ranges and Job Descriptions
The C-Level Job Description Bundle (see https://e-janco.com/landingpages/job-descriptions-c-level.htm) contains all the complete job descriptions for these positions and related IT Vice Presidential positions. Below is a table of IT executive management compensation developed as part of Janco’s semi-annual salary survey process.