The report comes from Janco Associates, a Park City, Utah-based consulting firm.
Here are three things to know from the report.
1. Among the top 35 highest paid CIOs, total compensation averaged $3.6 million last year. This amount includes an average base salary of $510,417, an average bonus of $962,857 and $1.8 million in stock options.
2. The top-paid CIOs include various big names. A few of the highest earners were:
- Walgreens Boot Alliance CIO Tim Theriault — $13.6 million (Note: Mr. Theriault stepped down from his position in June 2015.)
- Target CIO Mike McNamara — $10 million
- American International Group CIO Philip Fasano — $8.3 million
- Biogen CIO (Executive Vice President of Technology) Adriana Karaboutis — $7.7 million
3. The compensation growth reflects the overall increasing importance of CIOs in C-suite decision-making. “[M]ost of the individuals have been with these companies a long time — over 10 years — and are integrated into the overall executive management structure,” said Janco Associates CEO Victor Janulaitis. “As a result, their responsibilities include more than the traditional CIO technology role.”
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