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The implementation of artificial intelligence systems has expanded the roles of chief technology officers, prompting compensation hikes across an array of sectors from consumer to financial services to healthcare, according to the Wall Street Journal.
In 2024, the median pay for CTOs jumped 30.8% year over year, the report said, citing data from C-Suite Comp. Meanwhile, chief information officers’ base compensation increased from 20% to 30%, according to Heller Search Associates.
The rise of AI has applied pressure on CIOs and CTOs as corporations want to see tangible business results. Seven of the top-paid CIOs hold more than one title, with six having the dual title of CIO and chief digital officer, the report said.
According to data from C-Suite Comp, the top 10 highest-compensated CIOs for 2024 including base salary, bonuses, stock awards, etc.:
- Sudarsan Thattai, Lineage (NASDAQ:LINE), $29.48M
- Bridget Engle, Wells Fargo (NYSE:WFC), $21.98M
- Rajat Taneja, Visa (NYSE:V), $20.1M
- Javier Polit, Costco (NASDAQ:COST), $9.5M
- Amy Landucci, Solventum (NYSE:SOLV), $9M
- Sriram Krishnasamy, FedEx (NYSE:FDX), $5.8M
- Seemantini Godbole, Lowe’s (NYSE:LOW), $5.4M
- Amy G. Brady, KeyBank (NYSE:KEY), $4.95M
- Anil Bhatt, Norfolk Southern (NYSE:NSC), $4.92M
- Mark Hagan, AMN Healthcare (NYSE:AMN), $4.09M