A survey by Janco Associates Inc. has found that the recession is having a negative impact on the overall pay levels of IT executives, but those at the top are still pulling in big bucks. The Utah-based IT consulting firm found that the mean compensation for CIOs in large enterprises is now $168,839, a 6.1 percent decrease from a similar study issued a year ago. In mid-size organizations, the current average is $163,211, a drop of nearly five percent, said Janco. The firm cited reductions in bonuses and fringe benefits for the compensation declines.
While some CIOs are feeling the effects of the downturn, those at the top are doing quite well. The highest-paid executive, cited by Janco, was Jeffrey Fox, chief operating officer at Alltel Corp., a Little Rock, Ark.-based telecommunications firm. Fox, who heads IT, network services and enterprise security, had an annual salary of $673,000 and total compensation of just over $9 million.
Second on the list was Robert Willett, CEO of Best Buy Co.'s international business unit with worldwide responsibility for the retailer's information systems. Janco said that Willett had a salary of $623,000 and other compensation that raised his total package to nearly $8.6 million. Third was Jean Davis, who has been head of operations, technology and e-commerce at Wachovia, a bank which has been acquired by Wells Fargo. Davis was paid a salary of $205,500, with total compensation of $7.3 million.
For other top earners:
- check out this CIO.com article [1]
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IT staffing/careers news from [2]FierceCIO [2]
Links:
[1] http://www.cio.com/article/474084/Compensation_Study_Shows_Recession_Hurting_IT_Executive_Pay?source=nlt_cioinsider
[2] http://www.fiercecio.com/channel/it-staffing-careers