Chief Information Officer Career and Salary Profile
Business and technology are inextricably linked – and increasing in complexity as well. Chief information officers, who are responsible for an organization’s technological direction, are becoming more essential to companies around the globe, from Fortune 500 firms to smaller businesses and government agencies. Climbing the ladder to a chief information officer career can begin with enrolling in a Master of Science in Information Technology degree program.
Job Outlook for Chief Information Officers
According to the U.S. Bureau of Labor Statistics (BLS), employment for chief executives, including chief information officers, will grow steadily in coming years. Growth will occur as business technology needs become more complex in a global environment. Competition for these high-level positions will be keen; those with specialized knowledge, experience and advanced degrees should have the best job prospects.
Job Duties
By analyzing how an organization works, a chief information officer (CIO) can effectively plan for its technology needs. They typically oversee the IT department and development of projects and programming to advance corporate objectives.
As a senior-level executive, the CIO sets the overall direction for technology through strategic planning and evaluation. They provide leadership, planning and management for all areas of information technology strategy, development and implementation. Depending on the industry, this could include voice and data communications, academic technology, administrative systems, financial technology, training, user support and IT security systems.
In most organizations, the chief information officer also coordinates the development of all information technology activities and services, and leads the information technology team. In this capacity, they are often responsible for recruiting, hiring, developing and supervising staff. These executives are also often responsible for establishing and monitoring departmental budgets.
Additional activities for the CIO usually include: evaluating overall information technology operations; overseeing the design and implementation of new applications and changes to existing computer systems and software; and evaluating and procuring new hardware and software to meet company needs. Often, the chief information officer will review and approve vendor proposals and contracts, as well.
As cyber threats become more prevalent, an increasingly important aspect of the CIO’s job is information systems security. While overseeing the development and maintenance of a company’s databases, they are also responsible for keeping them secure. Keeping up with web threats, viruses and hacker activity is becoming more vital to organizational viability, and depending on the size of the company, could require an entire department or division under the chief information officer.
Chief information officers typically work in comfortable offices, with numerous support staff. While a 40-hour week is standard, executives at this level often work longer hours. Depending on the industry and employer, extensive or international travel may be required.
Potential Salary
According to national salary data on PayScale.com, as of January 2011 the median total annual income for chief information officers was about $156,874, with those in the 25th to 75th percentile earning between $103,826 and $209,922 in total pay.
PayScale.com data also indicated that earning potential can be significantly impacted by earning a master’s degree. In fact, based on 75th percentile salary figures, chief information officers with a Master of Science degree earned approximately $201,000 per year, while those with a Bachelor of Science degree in Computer Science earned $180,895 per year – a differential of over 11%!
The data show that the top salaries generally go to those with the experience and advanced education to sustain business growth in a fast-changing technology environment.
Education and Training Requirements
Top executives come from a wide range of educational and work experiences. Most chief information officer positions would require at least a bachelor’s degree and extensive experience. Many employers show preference to candidates with advanced information technology training and education, including master’s degrees.
The high degree of skills and business knowledge required to land a chief information officer position can be obtained by enrolling a Master of Science in Information Technology program. Coursework typically includes global information technology management, introduction to information security management, project management for information technology and database systems management.
Employers can be confident that professionals who have earned an MS in Information Technology are able to:
- Develop information systems tools to help businesses succeed in a global environment.
- Adapt new and emerging technologies to solve real-world business problems.
- Demonstrate leadership skills to lead teams and develop solutions.
- Manage complex technology projects from inception to completion.
- Leverage advanced knowledge and skills to succeed as a chief information officer.
Setting your Sights on a Career as a Chief Information Officer?
To join the executive suite in most firms, you’ll need to demonstrate proven leadership and managerial skills; you’ll also need the ability to communicate to all levels of stakeholders and work with all departments in an organization. Strong business skills and personal integrity, along with experience in information technology operations, will position you for success. With these skills, plus the confidence and respected credential of a Master of Science in Information Technology degree, you could be well on your way to a chief information officer career!
