Chief Technology Officer (CTO) Salary
Chief Technology Officers in the United States can look forward to a sizeable six-figure salary — around $152K per year on average. In the world of Chief Technology Officers, overall cash allowance can occasionally include more than $60K from bonuses and, in some exceptional cases, $57K from profit sharing, causing incomes to vary widely between $88K and $263K. Geographic location and career length each impact pay for this group, with the former having the largest influence. Work is enjoyable for Chief Technology Officers, who typically claim high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance.
|Salary||$84,903 - $231,298|
|Bonus||$1,517 - $68,973|
|Profit Sharing||$1,932 - $59,029|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$85,654 - $270,140|
|Hourly Rate||$12.29 - $196.53|
|Overtime||$0.07 - $297.99|
|Bonus||$1,517 - $68,973|
|Profit Sharing||$1,932 - $59,029|
|Total Pay (||$85,654 - $270,140|
Job Description for Chief Technology Officer (CTO)
A chief technology officer is part of an executive team in a company. He or she leads the efforts of the technology development within the company. This is usually the highest position related to technology within a company. Leadership skills are needed, as the CTO will often lead teams of people in the information technology department.Read More...
The CTO may decide when technologies need to be updated, so it is important to stay up to date with developments in the field. It is also important to keep an eye on the competition, in order to stay a step ahead. An abundance of research will be carried out by the CTO, and reports will be generated. That way, decisions can be made by the executive team. The CTO will generate a vision for the company and a plan to achieve it in the future. It is important to harness the best technology available to provide a good experience for the end user and to make employees’ work more efficient.
Since this is a senior position in a company, it is usually necessary to have many years of experience in a position relating to information technology. Since the job involves many duties, it is important to be self-motivated and to be able to problem-solve, multitask, and work well under pressure. The CTO may have a bachelor’s, master’s, or doctorate’s degree in a field such as information technology, computer programming, or another computer science. (Copyright 2017 PayScale.com)
Chief Technology Officer (CTO) Tasks
- Lead technology teams in day-to-day operations, provide key expertise, supervise the heads of departments, and set performance goals.
- Conduct technical reviews of products or solutions to compare and evaluate their applicability.
- Contribute to senior management team, guiding strategic decisions and resource allocation.
- Monitor management of all hardware, software, databases and licenses, maintenance, and projections of future needs.
- Define technology strategies and ensure that processes meet expectations for federal, state and community privacy and security.
Common Career Paths for Chief Technology Officer (CTO)
As Chief Technology Officers make advancements in their career path, their salaries may not change right away. For example, the higher-level VP of Computer Software Engineering position pays around the same amount as the Chief Technology Officer job on average. A lot of Chief Technology Officers advance their careers by becoming Chief Information Officers and Chief Operating Officers. However, those positions offer $17K less and $24K less per year on average.
Chief Technology Officer (CTO) Job Listings
Popular Skills for Chief Technology Officer (CTO)
Chief Technology Officers seem to exploit a large range of skills on the job. Most notably, skills in Software Architecture, Leadership, Java, and Product Development are correlated to pay that is above average, with boosts between 5 percent and 8 percent. Those listing HTML as a skill should be prepared for drastically lower pay. Network Management / Administration and SQL also typically command lower compensation. Those proficient in IT Management are, more often than not, also skilled in Project Management.
Pay by Experience Level for Chief Technology Officer (CTO)
Pay by Experience for a Chief Technology Officer (CTO) has a positive trend. An entry-level Chief Technology Officer (CTO) with less than 5 years of experience can expect to earn an average total compensation of $101,000 based on 188 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Chief Technology Officer (CTO) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $126,000 based on 322 salaries. An experienced Chief Technology Officer (CTO) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $164,000 based on 944 salaries. A Chief Technology Officer (CTO) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $185,000 based on 717 salaries.
Pay Difference by Location
For Chief Technology Officers, busy Washington offers a higher-than-average pay rate, 31 percent above the national average. Chief Technology Officers will also find cushy salaries in Boston (+20 percent), San Francisco (+16 percent), Denver (+13 percent), and Salt Lake City (+11 percent). One of the biggest compensable factors for Chief Technology Officers is geography, with workers in Kansas City earning a whopping 23 percent below the national average.
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