Exclusive: Meet the Highest Paid Information Technology Executives of 2024
By Belle Lin, The Wall Street Journal, July 1, 2025
Top technology executives in the United States are commanding record compensation packages in 2024, propelled largely by the expanding impact of artificial intelligence (AI) on corporate strategy and operations. Chief Information Officers (CIOs) and Chief Technology Officers (CTOs) are seeing significant remuneration increases as their roles grow in scope and influence across industries.
Rising Compensation Driven by AI and Expanded Leadership Roles
Data from C-Suite Comp, an executive and board pay analytics firm, reveals that the median total pay for CTOs surged 30.81% in 2024 compared to the previous year, reaching approximately $2.4 million. Meanwhile, CIO base salaries have risen 20% to 30%, according to Martha Heller, CEO of IT executive recruiting firm Heller Search Associates. Korn Ferry, another top recruitment and consulting firm, corroborates this growth, reporting CIO total compensation increases between 15% and 25%.
This trend stems largely from the critical role AI plays in modern businesses. Companies are not only integrating AI technology internally but also leveraging it to transform customer-facing products and services. Consequently, boards and executives are under mounting pressure to prove AI’s business value — a responsibility increasingly falling on technology leaders’ shoulders.
Diverse Industries, Multi-Talented Executives
The top 10 highest-paid IT executives in 2024 hail from sectors including financial services, retail, healthcare, and logistics. Prominent companies on this list include Wells Fargo, Visa, Costco Wholesale, and Solventum, a healthcare products firm. Notably, four women are among these top earners, highlighting growing diversity in tech leadership. Most of these companies are members of the S&P 500, with exceptions such as healthcare staffing firm AMN Healthcare Services and refrigerated warehousing giant Lineage.
Leading executives from these organizations often hold multiple senior titles, reflecting the breadth of their responsibilities. For example:
- Sriram Krishnasamy at FedEx serves as Chief Digital and Information Officer as well as Chief Transformation Officer.
- Mark Hagan, CIO and Chief Digital Officer at AMN Healthcare, additionally oversaw operations prior to recent changes in the company’s executive leadership.
This multi-title approach exemplifies how CIOs are transcending traditional IT management, increasingly partnering with CEOs on broad business strategy and transformation initiatives.
Expanded Job Functions and Increased Responsibilities
Traditionally, CIOs managed back-end IT infrastructure—data centers, cloud services, and enterprise software systems. Today, their roles often encompass digital innovation, transformation leadership, and driving business outcomes. With AI at the forefront, CIOs must balance running core IT systems, modernizing legacy platforms, preparing data for AI integration, and educating corporate boards about evolving technologies.
Martha Heller notes that these CIOs and tech executives are expected to "tell the story of AI" and explain its significance in a way that aligns with the company’s vision and resonates with various stakeholders.
Broader Tech Leadership and Compensation Dynamics
Despite some organizations having multiple senior technology leaders, compensation tends to be spread across these roles, sometimes limiting individual payouts. Deloitte’s recent survey shows that half of over 600 senior U.S. technology leaders work in firms with four or more C-level tech executives.
Victor Janulaitis, CEO of consulting firm Janco Associates, observes that companies with larger tech leadership teams distribute pay more broadly, moderating individual increases.
The Future of AI and CIO Compensation
Although AI adoption is driving higher pay for many CIOs, uncertainty remains about long-term compensation models tied directly to AI initiatives. Alyse Egol, senior client partner at Korn Ferry, explains that companies continue to navigate how to reward AI experience and leadership effectively.
For now, CIOs find themselves in what Heller describes as the “messy middle” — juggling legacy IT responsibilities, AI implementation, and the growing demand to link technology initiatives to tangible business results.
Key Takeaways:
- Median CTO pay rose by over 30% in 2024, reaching around $2.4 million.
- CIO base salaries grew by 20% to 30%, reflecting greater strategic responsibilities.
- AI’s transformative potential is driving increased compensation and expanded roles.
- Many top-paid CIOs hold multiple executive titles, including Chief Digital Officer and Chief Transformation Officer.
- Increasingly, CIOs must balance technical leadership with strategic storytelling to secure board-level buy-in for AI initiatives.
As AI continues to reshape competitive landscapes, technology executives who can integrate innovation with business strategy are being rewarded accordingly. Their evolving roles signal a fundamental shift in how enterprises value and compensate their top IT leaders.
For further insights, subscribe to WSJ’s CIO Journal for daily updates on business technology news.
Contact the author: Belle Lin at belle.lin@wsj.com
