The mean total salaries for tech labor has increased by 1.13% in the last 12 months, says a 2007 Mid Year IT Compensation Study by Janco Associates. The mean compensation for CIOs in large organizations has increased by 4.62% from $169,601 (in June 2006) to $177,433 (in June 2007) while in mid-sized organizations the salaries have remained almost flat.
Moreover, the number of CIOs who pocket more than $1,000,000 a year has also increased, according to the study. Timothy Shack of PNC Financial Services takes home the highest at $5,942,093 per annum. See box below for the salary details of top 13 North American CIOs.
The study also lists the IT positions (such as VP-Information Services, Computer Operation-Shift Supervisor, Data Center facility Administrator, Database Specialists, etc.) that are in demand these days in large enterprises. These positions have significantly higher salaries on offer — that can inflate the level of wages of those who remain in the existing positions — due to their increasing demand in the market. Though for the positions that are decreasing in demand (such as VP-administration, Change Control Supervisor, and Director IT Planning), the salary increment will be based on "time-in-grade" or tenure within the organizations, the study says.
Source: Janco Associates
Name Company Salary ($ per year)
- Timothy Shack, PNC Financial Services, 5,942,093
- Gregor Bailar, Capital One Financial, 4,522,681
- Steven Sadoff, Knight Capital Group, 1,993,434
- Mahvash Yazdi, Edison International, 1,878,848
- Kenneth Tye, Total Systems Services, 1,849,341
- Byron C. Vielehr, Dun & Bradstreet Sears Holding, 1,633,033
- Karen Austin, Sears Holding, 1,557,136
- John J. Sullivan, Liz Claiborne, 1,499,176
- Gregory Tranter, Hanover Insurance Group, 1,294,731
- Richard Connell, Selective Insurance Group, 1,268,134
- Larry Thomas, Landstar System, 1,251,925
- Bruce Marcus, McGraw-Hill, 1,239,883
- Bobby Spaid, Beckman Coulter, 1,100,079