CIOs Find Financial Satisfaction

Ann All

With the recent news that hourly wages for tech pros grew dramatically during the past year, reaching the highest levels since 2001, we wondered how CIOs were doing salary-wise.


An executive from IT staffing firm Yoh attributes the increase in hourly IT salaries to "unprecedented customer demand," coupled with a shortage of skilled workers. Faring especially well were technical consultants, ERP experts, hardware engineers, project managers and database administrators.


According to a recent survey by recruitment firm Harvey Nash USA, CIOs also appear to be making out pretty well financially. The average CIO salary is $163,000, with three quarters of survey respondents receiving a bonus within the past 12 months.


The percentage of respondents earning more than $125,000 a year grew from 36 percent last year to 70 percent this year. (We've linked to a press release announcing the results. It includes a link that will allow folks to read the entire survey, after a quick registration process.)


According to a recent ZDNet piece, a handful of CIOs from public companies (13 to be precise) were financial superstars, earning more than $1 million in total compensation in 2006 -- a lot more in the case of CIOs from PNC Financial and Capital One Financial.


Seventy-five percent of respondents in the Harvey Nash survey report being "satisfied" or "extremely satisfied" with their compensation, up 3 percent from the 72 percent who reported those levels of satisfaction last year. Eighty-two percent of respondents say they work at least 50 hours a week, though just 24 percent say they work more than 6o hours a week.


A desire for more compensation was not among the top three reasons for seeking a new CIO post in the Harvey Nash survey, appearing after "greater involvement in business strategy," "fresh challenge" and "work/life balance."


Interestingly, considering thepublic soul searching about the role of the CIO that has been playing out in this blog and others, 80 percent of respondents also say their role is becoming more strategic.

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