IDG’s InfoWorld 2002 Compensation Survey Reveals CTOs Well-Paid, Highly Valued – Expected to Contribute to Bottom Line
SAN MATEO, CA – JUNE 3, 2002 – InfoWorld Media Group, the provider of in-depth analysis of enterprise technology and strategies through its integrated online, print, research and events channels, today revealed the results of the InfoWorld 2002 Compensation Survey. Using InfoWorld's Web site and print subscriber list, 3,295 responded to the survey, resulting in the industry's most accurate picture of the compensation of IT professionals. The survey underscores the importance of IT to business operations despite tough economic times and slow industry growth.
In a year that was layered with hiring freezes and layoffs, IT executives were faced with tough personnel decisions and expect slight improvement moving forward. The survey also revealed that the CTO is highly valued and expected to align technology more closely with business — focusing on an improved return on investment while simultaneously searching for new technology that can bring added revenue growth. Of the CTOs surveyed, 41% reported salary increases in the last 12 months; 62% reported receiving a bonus. The average base salary for a CTO came in at $ 143,802.
"The role of the CTO and the IT professional in general continues to grow in importance and has become more closely aligned with business operations," stated InfoWorld Media Group's Editor-in-Chief Michael Vizard. "IT executives are expected to be a key part of the business picture — focusing on technology that streamlines and adds to the bottom line. This is brought home by the fact that 87% of CTOs responding to the InfoWorld 2002 Compensation Survey report directly to their company's chairman, CEO, or president."
CTOs "Leading Edge" Technology Adopters
CTOs responding to the InfoWorld 2002 Compensation survey were also asked about their views on technology adoption. The survey revealed that CTOs are cautious when it comes to their companies' use of new technologies. For company use and implementation, the survey showed that 48% of CTOs classify their companies as "leading edge" adopters that adopt technology after the technology is more mature.
InfoWorld 2002 Compensation Survey Results
A total of 3,295 IT professionals were surveyed. Over 1800 survey respondents reported their companies had layoffs or hiring freezes. Despite the tough times, InfoWorld readers are holding fast:
IT executives' average salaries excluding bonuses, profit sharing:
-Chief Technology Officer: $143,802.00
-CIO/VP of IS: $140,184
-VP of IT: $125,375
-Chief Architect: $104,873
-Other externally-focused VP/Director: $104,319
-Director of IS/IT: $99,589
-Other internally-focused VP/Director: $98,608
42.5% of senior IT managers reported no change in salary
10.5% of senior IT managers reported a decrease in salary (mean decrease 20%)
47% of senior IT managers reported an increase (mean increase 9%)
50% of CTOs reported no change in salary
41% of CTOs reported an increase (mean increase 12%)
9% of CTOs reported a decrease (mean decrease 12%)
IT Professionals — The Average:
Average salary for an IT professional excluding bonuses, profit sharing, stock options — $87,385.00
Average age is 39
Employed at current company for 5.3 years and has been in an IT position for 12.4 years
90% of IT professionals are male
64% of mid-level managers received salary increases
61% of IT staffers received salary increases
Over 66% of mid-level managers and 71.6% of IT staffers report they did not receive bonus pay increases in the last 12 months
Nearly 20% of mid-level managers and IT staffers reported a decrease in bonus pay
For more information on the InfoWorld 2002 Compensation Survey go to http://www.infoworld.com/cto/ctcompensation2002.html.
About IDG's InfoWorld Media Group
Only InfoWorld Media Group provides cutting-edge coverage and evaluations of IT products, technology and services for technology experts in senior IT management. InfoWorld reaches the most influential senior technology experts — who drive their enterprises' technology purchases — through integrated online, print, research and events channels. InfoWorld also provides specialized IT coverage for the Chief Technology Officer, the senior-most company executives who possess deep technology expertise and experience.
InfoWorld Media Group's coverage of key IT products and technologies is supported by original research done in InfoWorld's $23 million, dedicated multi-platform, enterprise test center. Since 1978, InfoWorld has performed the industry's most trusted testing of technology and products. To learn more about InfoWorld, go to http://www.infoworld.com.
InfoWorld Media Group is a division of IDG, the world's leading technology media, research and event company. IDG publishes more than 300 magazines and newspapers and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 330 targeted Web sites in 80 countries. IDG is also a leading producer of 168 computer-related events worldwide, and IDG's research company, IDC, provides global market intelligence and advice through 51 offices in 43 countries worldwide. Company information is available at www.idg.com.