Vice President (VP), Information Technology (IT) Salary
Job Description for Vice President (VP), Information Technology (IT)
The vice president of information technology (IT) is a high-level position that oversees an organization's technology initiatives, as well as IT changes and updates to all projects. The vice president assesses IT systems and makes decisions on investments and implementation of future technology. They must achieve IT department goals within the context of the organization's vision and values. They also help develop policies, standards, and objectives, in addition to participating in training sessions and helping recruit new talent. One of the most important functions of this position is the helping create budgets and authorize purchases, with help from other executives and managers. Most vice presidents of IT work in an office setting during regular business hours, although overtime may be required, particularly for projects on deadline.Read More...
This is an executive position that requires outstanding interpersonal skills and the ability to lead a team in a way that promotes efficient, high quality work. Vice presidents of information technology also need to be able to develop sustainable business relationships with vendors. In addition, they must be attentive to detail and handle stress well. A bachelor's degree is needed for this position, along with several years of experience in the IT field. Different leadership and technology certifications from major software/hardware companies are usually a plus.
Vice President (VP), Information Technology (IT) Tasks
- Identify and propose new information technologies and systems to improve business processes and decision making.
- Establish the strategic direction of the Company's information systems as well as executing the strategy.
Common Career Paths for Vice President (VP), Information Technology (IT)
VPs of Information Technology who become Senior Vice Presidents of Operations position may earn slightly higher salaries. The median income for that position is $181K per year. A lot of VPs of Information Technology advance their careers by becoming Chief Information Officers and Chief Technology Officers. However, those positions offer $11K less and $8K less per year on average.
Vice President (VP), Information Technology (IT) Job Listings
Search for more jobs:
Popular Employer Salaries for Vice President (VP), Information Technology (IT)
Leading companies who hire large numbers of VPs of Information Technology include J.P. Morgan Chase & Co. (JPMCC), Bank of America Corp. (BOFA), Morgan Stanley, Citibank, and The Goldman Sachs Group, Inc. VPs of Information Technology flock to State Street Bank for generous paychecks, where average earnings of $193K lead the pack in compensation. Those in search of high salaries should also consider Barclays Capital Inc, The Goldman Sachs Group, Inc., and Blackrock, Inc., top-paying firms where VPs of Information Technology rake in a massive $184K, $166K, or $164K, respectively.
Also sliding in at the lower end of the scale are Citigroup, Inc. ($125K), Deutsche Bank ($126K), and Citibank ($132K).
Popular Skills for Vice President (VP), Information Technology (IT)
Survey takers working as VPs of Information Technology report using a large range of professional skills. Most notably, facility with Program Management, Strategic Planning, and Leadership are correlated to pay that is significantly above average, leading to increases of 21 percent, 12 percent, and 9 percent, respectively. Those listing Network Management / Administration as a skill should be prepared for drastically lower pay. Java and SQL also typically command lower compensation. Most people experienced in Network Management / Administration also know IT Security & Infrastructure. People who know Project Management usually also know People Management, IT Management, and IT Security & Infrastructure.
Pay by Experience Level for Vice President (VP), Information Technology (IT)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
VPs of Information Technology with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Even the relatively untested can earn a lot; individuals who have been working for fewer than five years report a median six-figure salary of $120K per year. VPs of Information Technology claiming one to two decades of experience make an estimated median of $156K. People who have worked for more than 20 years report a median income of $171K, which is barely higher than the median for folks with 10 to 20 years of experience.
Pay Difference by Location
With a pay rate for VPs of Information Technology that is 26 percent greater than the national average, Washington offers a comfortable salary for those in this profession. VPs of Information Technology will also find cushy salaries in San Francisco (+25 percent), Atlanta (+20 percent), Boston (+18 percent), and Chicago (+11 percent). One of the biggest compensable factors for VPs of Information Technology is geography, with workers in Tampa earning a whopping 22 percent below the national average. Employers in Columbus and Charlotte also lean toward paying below-median salaries (21 percent lower and 12 percent lower, respectively).
Vice President (VP), Information Technology (IT) Advice
Related Job Salaries
Key Stats for Vice President (VP), Information Technology (IT)
Rated 5 out of 5
based on 222 votes.