CIO pay increased by 21 percent this year from last, as technology played a vital role in businesses' and organizations' growth and development, The Wall Street Journal reported Feb. 22.
According to data from Mondo, a staffing firm, average CIO salaries were up by 21 percent to $287,500 from last year. More experienced CIOs at larger companies reported earning $350,000 in base salary, up from $300,000 last year.
The growth is attributed to companies realizing the value technology can bring to their companies and the important role CIOs play in exploiting tech's growing business possibilities. With this, companies are willing to pay CIOs more in order to reap the benefits technology has to offer.