As CIOs' roles and responsibilities as strategic decision-makers grow, so does their compensation, reports The Wall Street Journal.
Average year-over-year wage growth reached 2.2 percent in February, according to statistics from the Labor Department, but data from staffing service Robert Half International indicate wages for CIOs increased 4.9 percent in roughly the same time frame, according to the report.
Additionally, there is a widening range of CIO salaries, from $172,000 to $268,250, according to the report, which WSJ says indicates a multi-tiered job market for CIOs. "Some fetch top-dollar executive salaries to drive business growth through innovative digital technology, and others are being paid far less simply to keep the lights on," according to the report.
John Reed, a senior executive director of Robert Half Technology, told WSJ this type of salary spread is common in executive level jobs, and that location, industry and company size all factor into salary.
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