Businesses achieve objectives by leveraging technological resources.
Because of the dependence on technological resources in business environments, the chief information officer position is becoming increasingly popular. The chief information officer may report to other officers of the company, such as the chief operating officer or the chief financial officer, but often is a member of the president's cabinet or reports to the board of directors. An individual in this position provides expertise in emerging technologies and directs a company's selection and use of technologies.
Characteristics
The chief information officer couples leadership skills with budgeting, strategic planning and forecasting skills. An individual in this position balances management acumen with information system knowledge and must be an avid communicator, able to negotiate and forge relationships with a variety of departments, vendors and clients. In addition to technical aptitude, companies require entrepreneurial, decisive problem-solvers to fill the chief information officer position.
Function
The chief information officer helps to propel the company toward company goals by directing the activities of information technology outsourcing, implementation and system development teams. The officer evaluates the company's current structure and operations, and identifies areas where efficiency and effectiveness can be improved through the use of technological strategies. Once the areas for improvement are identified, the chief information officer structures and directs the organizational changes that are required. Direction provided includes management of funds, information systems and human resources.
Experience and Education
Chief information officers will typically possess a bachelor's degree with course work in computer science, information systems and business management. Companies typically recruit individuals who have served in management or executive leadership positions, placing emphasis for this position on management and leadership skills. Candidates for the chief information officer position typically have prior experience leading enterprise-wide system implementations, and can demonstrate experience in collaborating with corporate subsidiaries, divisions and departments. According to Payscale.com's statistics, 82 percent of all chief information officers have over ten years of experience.
Salary
In May 2010, Payscale.com reported chief information officer total pay in the twenty-fifth percentile at $103,438 and total pay in the 75th percentile at $211,773. Pay reported included annual salaries ranging from $99,357 to $175,939, bonuses of $9,000 to $49,730 and commissions of $5,000 to $20,000. A variety of industries hiring individuals for this position include insurance companies, health care firms, financial services, and colleges and universities.
Job Outlook
Job seekers may have reason to feel hopeful, as the 2010 job market looks promising for chief information officer opportunities. According to CIO.com, media and entertainment industries are recruiting chief information officers who will incorporate emerging social media and Web 2.0 technologies in development while other industries are hiring chief information officers to ensure compliance with industry regulations. Even the federal government sees the need for a chief information officer. In 2009, Computerworld reported the federal government had hired its first chief information officer.
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