With growing responsibilities come growing salaries for many CIOs, CIO Dive reported.
Salaries for tech leaders such as CIOs, chief technology officers and vice presidents of IT grew 8.4 percent in 2022 compared to the prior year, according to the April 3 story, citing data from career marketplace Dice.com. CIOs looking to leave their jobs have been getting offers that would hike their total pay by 30 percent or more.
"I don't think there's a CEO that sleeps comfortably at night if that particular body of functional domain is not sitting in good capable hands," Craig Stephenson, senior client partner and managing director of the North America CIO/chief technology officer practice at recruiting firm Korn Ferry, told the news outlet.
CIOs have been getting paid more due to the increase in responsibilities brought on by many organizations' digital transformation and the shift to a more strategic business role in the C-suite that often includes product design and customer experience, according to the story. Many tech leaders also aspire to move up the corporate ladder to become presidents or COOs.