Exclusive: Meet the Highest Paid Information Technology Executives of 2024
In 2024, chief information officers (CIOs) and chief technology officers (CTOs) at major U.S. companies are commanding significantly higher salaries as artificial intelligence (AI) reshapes the technology leadership landscape. According to newly released data analyzed by executive pay analytics firm C-Suite Comp and insights from recruiting specialists, the compensation for top IT executives is experiencing notable growth driven by the expanding role of AI in business operations and innovation.
Rising Compensation Amid AI Expansion
CTOs saw their median pay rise sharply by 30.81% from the previous year, reaching approximately $2.4 million in total compensation. Meanwhile, CIOs also experienced a substantial increase in base compensation, with estimates ranging between 20% and 30%, as noted by Martha Heller, CEO of IT executive recruiting firm Heller Search Associates. Korn Ferry, a prominent executive recruitment and consulting firm, corroborated these findings, reporting that total compensation for CIOs grew by 15% to 25%.
This surge in pay reflects the heightened value that companies place on their technology leaders amid the transformative potential of AI. Enterprises are increasingly dependent on AI to drive efficiency, enhance customer products and services, and produce measurable business results, placing CIOs and CTOs at the strategic core of corporate success.
The Top Earners and Their Diverse Sectors
Data from C-Suite Comp highlights the top 10 highest paid IT executives in 2024, representing a range of industries including financial services, retail, healthcare, and logistics. Notable companies among those offering the largest pay packages include Wells Fargo, Visa, Costco Wholesale, Solventum, FedEx, and Lineage, the world’s largest refrigerated-warehousing provider.
The list includes four women CIOs, reflecting gradual progress toward greater gender representation in senior tech leadership roles. All but two of these leading companies are constituents of the S&P 500. The growing importance of AI means these leaders frequently hold multiple titles that span beyond traditional IT management roles.
Broadening Roles and Titles
A significant factor in rising compensation is the expansion of CIO responsibilities well beyond managing back-office technology functions like data centers and cloud infrastructure. Increasingly, CIOs also take on roles such as chief digital officer or chief transformation officer, bridging IT and broader business leadership.
Among the top-paid executives, seven hold multiple titles; six have the dual role of CIO and chief digital officer. For example, FedEx’s Sriram Krishnasamy serves as both chief digital and information officer as well as chief transformation officer, while AMN Healthcare’s Mark Hagan holds CIO and chief digital officer titles and has taken on additional responsibilities related to operations.
This broadening scope means these CIOs are critical strategic partners to their CEOs and boards. “From a budget perspective, it’s two functional leaderships for the price of one,” explained Heller. These multiple titles signal CEOs’ views of their CIOs as essential leaders driving innovation and business outcomes.
Challenges in the AI Era
Despite the increased attention on AI and its impact on executive pay, companies are still navigating how to effectively link AI initiatives to tech leaders’ compensation. Korn Ferry’s Alyse Egol pointed out that many organizations are in the early stages of defining the roles, responsibilities, and rewards associated with AI leadership.
For some CIOs, the AI era presents a “messy middle” challenge — balancing the education of boards and executives on AI potential, maintaining core IT functions, readying corporate data for AI applications, and modernizing legacy systems simultaneously.
“Learn to tell the story of AI to every single person around you in a way that is meaningful to them, and furthers the vision of the company,” urged Heller, underscoring the critical role of technology leaders as storytellers and evangelists for AI.
More Complex Tech Leadership Landscapes
Large enterprises increasingly have multiple senior technology leaders. A recent survey of over 600 senior U.S. tech executives by Deloitte revealed that half of the organizations have four or more C-level technology roles, which may dilute individual compensation but diversify leadership coverage.
Looking Ahead
As AI continues to integrate more deeply into corporate strategy and operations, the compensation and responsibilities of CIOs and other top tech executives are expected to evolve. Their ability to navigate new technology landscapes, articulate AI’s value, and lead digital transformation will remain central to their growing influence and rewards.
For more insights and updates on technology leadership and AI’s impact on the C-suite, subscribe to WSJ’s CIO Journal.
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Written by Belle Lin, The Wall Street Journal
Published July 1, 2025
Contact: belle.lin@wsj.com
