Job Description for Chief Technology Officer. A CTO should have the business knowledge necessary to align technology-related decisions with the organizations goals. Step 3: Earn a Masters Degree (Optional). Long-term incentives saw an increase of almost half a million dollars in 2017 to about $1.74 million, a change from the three previous years, which saw long-term incentives of about $1.25 million. Copyright 2023 IDG Communications, Inc. What Is Included in a CEO Golden Parachute? The average CTO salary in the United States is $275,800 as of January 26, 2023, but the range typically falls between $245,100 and $305,100. Step 4: Dont Be the First to Name a Price. In Fortune 500 companies, the ratio ranges from 2 to 1 to almost 5,000 to 1. She left Norfolk Southern in 2015, but still receives deferred compensation of various sorts; most of it takes the form of retirement benefits, which are generous enough to put her at number 11 on our list. Fortune 500 employees earn an average salary of $57,126 in 2023, with a range from $28,000 to $114,000. . Rasmus Norling served as CTO/CEO for Poly Shield Technologies and made a cool $81,845,000. Because the value of unexercised options is unpredictable, we did not consider them in our tabulation of total compensation. Deborah Butler has a background in a number of disciplines that she exercised in nearly 40 years at Norfolk Southern, ranging from operations to regulatory environment to strategic planning. How much does a Chief Technology Officer make in the United States? PwC's 2023 CEO Survey reveals that CEOs are spending the majority of their Despite rampant employee complaints and several lawsuits over sexism, harassment, and Koticks personal mismanagement of assault claims at the game developer, Microsoft in January agreed to buy Activision for $68.7 billion, in what would be its largest acquisition to date. The estimated additional pay is $105,280 per year. Public health care firms paid compliance chiefs an average of nearly $550,000 in total compensation last year, more than any other industry. Salary: $533,300Bonus: $524,400Stocks and options: $1,418,400Other: $55,900Total: $2,532,000. The employee data is based on information from people who have self-reported their past or current employments at Fortune 500. Management: directing and overseeing the work of other executives, directors, presidents and vice-presidents of the company. Salary: $216,071Bonus: $664,053Stock and options: $1,890,267Other: $130,638Total: $2,901,029. For example, employees in the finance sector earn an average yearly salary of $91,070, while employees in the engineering sector earn an average yearly salary of $87,375. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Benioff founded Salesforce in 1999, adopting the marketing slogan "The End of Software." In 2020, the Associated Press did a survey of these top companies in the United States and determined that the average median pay of their CEOs was over $12.3 million in 2019. How much does a CTO make in the United States? Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Not the job you're looking for? But 2017 saw another kind of jump: she went back to her accounting roots and took a job as the companys CFO. A Florida CEO salary is relatively smaller at $187,870 per year. How Cultural Diversity Affects Women in the Workplace. Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Customer service is the second-lowest paying organizational function at Fortune 500, where the workers earn $37,650 per year. This year, Nadella was voted the most underrated CEO for the sixth consecutive year, according to the survey behind Fortunes Worlds Most Admired Companies. Catz was a banker before she joined Oracle as a Senior Vice President in 1999. Overall, median CFO reported total compensation in the S&P 500 increased 18.7% from $2.9 million in 2011 to $3.4 million in 2015. Salary: $601,675Bonus: $772,933Stock and options: $1,318,029Other: $45,730Total: $2,738,367. Although he makes the cutoff for our list because he worked at AIG in 2017 and netted hefty compensation, much of it in the form of a bonus he actually left the company in March of that year, possibly as part of the sweep of the executive ranks that soon afterward saw the CEO ousted as well. The average Fortune 500 salary ranges from approximately $82,783 per year for Senior Technical Recruiter to $170,647 per year for Full Stack Developer. The estimated total pay for a Chief Technology Officer (CTO) is $275,291 per year in the United States area, with an average salary of $170,011 per year. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Countries. The company had a blockbuster 2021, bringing in $53.8 billion in revenue, up 71% from 2020, and expanding significantly into key European and Chinese markets. . How Much Money Do Oil Refinery Workers Make? The Chief Technology Officer manages a business unit, division, or corporate function with major organizational impact. CEO pay dwarfs that of the average employee. The estimated total pay for a CTO is $259,880 per year in the United States area, with an average salary of $164,312 per year. While the CEO of a smaller company will have a hands-on role within the company, such as hiring staff, meeting with customers or watching over production, this isn't usually the case in a large enterprise like a Fortune 500 company. To remain competitive, job seekers with little relevant field experience should consider higher degrees or industry-specific certificates to meet evolving requirements. While hes moved down this list a bit since last year, a sizeable stock grant kept him in the top 25. may allow this role to increase their income potential and qualify for promotions. average cto salary fortune 500 (719) 280-0021. The report finds that the amount of power loss due to anomalies nearly doubled from 1.61% in 2019 to . A spokesperson acknowledged that during the latest fiscal year, Huang "realized about $507 million from expiring options that had been granted in 2011 and 2012, reflecting the approximately 60x increase in the companys share price over the [past] decade.". New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. The CTO manages a business unit, division, or corporate function with major organizational impact. All salary data courtesy of the Bureau of Labor Statistics. The average estimated annual salary, including base and bonus, at Mary Kay is $116,927, or $56 per hour, while the estimated median salary is $108,629, or $52 per hour. Jessica Derkis started her career earning $8 per hour ($16,640 annual salary) as the YMCA's marketing manager. They only report to the board of directors and the chairperson of the board of directors. Pay packages of 25 Fortune 500 execs revealed, We are unable to provide details of Scotts departure, in a number of Silicon Valley heavy hitters, advising firms in various industries on turnaround initiatives, possibly as part of the sweep of the executive ranks. Jeff Bezos (Amazon) makes $81K/yr. Establishes technology standards and communicates technical information to the organization. Trusted by 400K users from 76% of Fortune 500 companies. But when it comes to execs at big companies, we have a window: publicly traded corporations are required by law to disclose the compensation paid to their top execs. Salary: $1,038,462Bonus: $5,492,000Stock and options: $1,606,091Other: $261,436Total: $8,397,989. In 2012 he became SunTrusts CIO, where he worked to unify a siloed technology department. Jobs with a similar salary range to CTO : Companies with revenues between $1 billion and $2.5 billion had the largest increase of TTC (5%). Now, a quarter-century after the first CISO emerged, every one . About Lene Skovbjerg's Current Company. International Business Machines (IBM) Corp. Project Manager, (Unspecified Type / General). Hjelm in on our list for the second year in a row, and a sizable bonus sends him further towards the top. The starting pay at Fortune 500 is $28,000 per year, or $13.46 per hour. The highest salary for a Chief Technology Officer (CTO) in United States is $308,146 per year. Tim Cook (Apple) makes $3 million/yr. Private-sector readings show job postings receding more than government reports of job openings. The industry with the highest average ratio of CEO to worker pay was the consumer discretionary industry with a ratio of 977:1. . How much does a Chief Technology Officer make in the United States? Fortune 500 employees in different sectors tend to have different salaries as well. Fortune magazine ranks companies by their total revenues each year. Chief Technology Officer is responsible for the long-range direction of an organization's technology function. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. CEOs can be paid in several ways, including a salary, bonuses, stock awards, stock options, dividends from those stocks or any of numerous perks. Men receive an average salary of $103,400 USD. Each group significantly undershot the actual median salary of CEOs at Fortune 500 companies, which is currently around $10.3 million. Oracle did not respond to a request for comment. After getting masters degrees in both India and the U.S., Chandrashekar worked as COO for the Sterling Infotech Group of companies. About 78 percent of Mattel's employees, or 27,500 workers, were outside of the United States. He or she leads the efforts of the technology development within the company. Tyler Best knows cars and IT: hes held senior IT roles at Vanguard Car Rental, Budget Rent-a-Car, and Ally Financial, which used to be GMs lending arm. Salary: $553,846Bonus: $2,780,000Stock and options: $3,143,627Other: $78,648Total: $6,556,121. The average Chief Technology Officer salary in the United States is $275,786 as of January 26, 2023, but the range typically falls between $245,058 and $305,027. 201-500 Employees. Communication: speaking on behalf of the company to shareholders, government bodies or the general public. salary. What is the average salary for CEOs at Fortune 500 companies? Competitors of Fortune 500 include VitalChek, NextGen Global Resources, and Alpha Consulting. Consumer defense, for example surged by nearly 10 percent between 2018 and 2019. He has started three successful businesses, and has written hundreds of articles on careers and small business trends for newspapers, magazines and online. The company ranked 134 on this year's Fortune 500. In 2015 she took on the role of CIOironically being outpaid by her predecessor Deborah Butler, whose deferred compensation put her at number 11 on our list. Average Development Dimensions International Salary, Average Hyperion Materials & Technologies Salary. Unlikely Likely . In December 2021, Oracle announced a $28 billion deal to acquire electronic health records company Cerner; as of May 2022, that deal was still under regulatory review in the U.S. and Europe. The result was a paycheck that was $1.1 million lighter at the end of the year. Mattel had the highest ratio of 4,977 to 1. What Do You Call a Board of Director Member Who Works for the Company? . The wages at VitalChek average higher than the other similar companies, where the median salary is $93,303 per year. Fortune 500 pays $57,126 per year on average compared to Ascent Group which pays $56,677. A chief financial officer in the U.S. can expect to make anywhere from $130,000-$462,923 per year. Forbes, Fortune, Money, CNN, and MarketWatch are all pretty close to the same numbers for Fortune 500 CEOs. They head C-level members such as the COO, CTO, CFO, etc. What is the average salary for a surgical technologist? To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC). CEOs in the U.S. make far more than those in other countries. Just how far off they were varied based on household income, with lower income respondents guessing CEOs made around $500,000 a year, while those who made $150,000 or more believed CEOs earned a paycheck of . He came to Sysco in 2012 after serving as CIO at Supervalu and Cadbury Schwepps. Countries. CEO pay in technology increased by 8.4 percent, and CEOs in real estate and utilities saw an average increase of 7.9 and 7.7 percent respectively. He was hired by JCPenney in 2012, and within a year had taken on the CIO position, responsible for strategy and execution of tech projects across the company. Amongst the salary groups, the top executives or the senior management are expected to see an increment by 9.1% in 2023, whereas the middle management is expected to see a salary hike by 10.1%. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. More answers below Often, the CEO will have a seat on the board and may even run the board as its chairperson. Recently searched related titles: What your skills are worth in the job market is constantly changing. Hauppauge, NY. Microsoft did not respond to a request for comment. Meanwhile, hes serving as EVP and CIO of Shane Company Jewelry. And we scoured the proxy statements of the 500 largest U.S. companies to find 25 that disclosed CIO pay. Can It Keep Rising Post-Pandemic? Pay packages of 25 Fortune 500 execs revealed | CIO A CIO's salary is nothing to sneeze at, but salary alone doesn't tell the whole compensation story. 33 Fortune 500 companies are led by female CEOs. Typically reports to Chief Information Officer or Chief Executive Officer. Lene Skovbjerg's Estimated Salary Range. El Paso, TX, gpac - Of the Fortune 500 companies surveyed, about 84 percent paid their CEOs the equivalent of more than 100 of their workers, while 97 percent could pay a median-salaried employee for 45 years with the CEO's salary. Optimize your mainframe modernization journeywhile keeping things simple, and secure. If you are thinking of becoming a Chief Technology Officer (CTO) or planning the next step in your career, find details about the role, the career path and salary trajectory of a Chief Technology Officer (CTO). How much money do people make at their job? Step 2: Understand Your Value Is Not Tied to Your Current Compensation Level. Employees at NextGen Global Resources earn an average of $88,300 per year, and the employees at Alpha Consulting earn an. The average CEO salary of a California based CEO is $228,270. Salary: $599,029Bonus: $653,176Stock and options: $3,630,025Other: $1,102,874Total: $5,985,104. Microsoft posted a robust 38% increase in profits last yearearning $61 billion, the fourth-largest sum among Fortune 500 companiesas revenue rose 17.5% to $168 billion thanks to a successful Surface laptop and tablet launch. She reached the EVP level in 2007, but like several other entrants in this list, she manages to be one of the top paid tech executives despite having retired several years ago. The average CT Technologist salary in the United States is $74,003 as of January 29, 2021, but the salary range typically falls between $67,699 and $80,952. By Chet Kapoor, Chairman & CEO of DataStax. The Standard & Poor (S&P) 500 is a list of the top 500 companies listed on U.S. stock exchanges, and while it's not exactly the same, the majority of Fortune 500 companies are also on the S&P 500 list. On top of salary, average CTO bonuses total $24,147 (in a range from $2,522 to $73,766), average annual profit sharing is $19,327 (ranging from $1,932 to $60,536), and commissions average $30,000 annually ($4,500 to $85,000). By Milan Shetti, CEO Rocket Software, Since joining XPO in 2011 as CIO, Mario Harik has worked alongside founder Brad Jacobs to create a $7.7 billion business that has technology innovation in its DNA. While its true that a Chief Technology Officer may have to wear many different hats in their time (particularly at a startup), the role does have an official definition with which we can work from. The total salary of a CEO is broken down into seven categories: base salary, bonus, stock awards, option awards, non-equity incentives, pension value, and "other" compensations. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Pay also varies in specific sectors each year. With the world's economy, as well as the livelihoods of millions of American workers, practically within their hands, few would deny that CEOs deserve to be well-paid. El Paso, TX, gpac - But JCPenney was on hard times, and by the end of 2015 Laverty left the company. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. $320,000. Establishes overall direction and strategic initiatives for the given major function or line of business. 31% of senior roles are held by women in the U.S. . That wasby farthe biggest CEO payday in 2021, according to our new analysis of how Fortune 500 CEOs are compensated. He has been CEO of Broadcom since Avago's $37 billion acquisition of the semiconductor company in 2015. Leadership skills are needed, as the CTO will often lead teams of people in the information technology department. People with the job title CTO (Chief Technology Officer) make the most at companies with 501-1,000 employees, earning $286,262 on average. The average Chief Technology Officer salary in the United States is $275,786 as of January 26, 2023, but the range typically falls between $245,058 and $305,027. A healthy stock grant boosted him onto our list for the first time. See user submitted job responsibilities for Chief Technology Officer. Pawan Vermas career has been focused on retail and ecommerce: after stints at Convergys and Verizon Wireless, he spent two years as VP of Digital Technology and API Platforms at Target, where his bailiwick ranged from marketing tech to the companys online store. Salary: $491,439Bonus: $251,458Stock and options: $1,930,658Other: $25,262Total: $2,698,817. Musk did not respond to Fortune's requests for comment. Our analysis evaluated the pay packages of 280 Fortune 500 CEOs, who earned a median total compensation of $15.9 million, up 30% from a year earlier. Smith - CIO Stats: Average Fortune 500 CIO Compensation Tops $1.4 Million, Korn/Ferry Says - WSJ U.S. 10 Yr Crude Oil Yen DJIA Print Edition Latin America U.S. Central Banking Private Equity Art &. Many of Nadella's peers likely believe he deserves a huge payday. Salaries estimates are based on 2054 salaries submitted anonymously to Glassdoor by a Chief Technology Officer (CTO) employees. 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