Chief Technology Officer or CTO is a position where an individual takes care of the relevant policies and matters related to technologies. People working in this position are responsible for taking care of all the IT-related issues and finding solutions. They are also responsible for examining both the short-term and long-term needs of the company they are working for to ensure that the organization can reach its goal. One who is backed by proper Web development courses and experience can easily take up a job as CTO.
Who is a CTO?
You are now aware of the basics of the job profile of CTO. However, being someone who merely takes care of IT is not the only job of a CTO. That is the reason; we have collected some points that can help you understand more about this position.
- CTO is someone who can be considered a company’s lead technologist
- They are responsible to follow and stay updated with the latest tech trends
- Someone working in this position should be able to implement software to help with the growth of the business
- Someone working as a CTO should have the capability to balance both the responsibilities of an IT professional and an executive
- Proper tech skills along with network and educational background are required to do the job of the CTO properly
These are some of the important characteristics that a CTO should have to do her or his job properly.
Every company has this position, and if you have ever wondered what Twitter CTO’s salary is or of some other technological company, then this is an article for you to explore.
CTO Salary Structure
There are various levels of CTO in which you can get a job. Therefore, it is no wonder that the salary structure will also change according to the position someone is holding. For instance, if a person is working as an entry-level Chief Technology Officer with experience of less than a year, then they can expect to earn around ₹600,000.
The next level is that of an early career as CTO. This means someone who has between one to four years of experience can expect to earn about ₹884,372 as compensation.
How much does a mid-career Chief Technology Officer earn? When you have around five to nine years of experience, you can hold this position. The average compensation you would be earning is around ₹1,898,939.
When you have between ten to nineteen years of experience, you can expect to have an average compensation of about ₹3,418,037. However, the number increases to around ₹4,853,611 during your late career when you have over 20 years of experience.
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Factors Determining CTO Salary
The salary that a CTO earns is not dependent solely on their experience. There is no doubt that experience plays an important role, but other things are also considered when offered a salary structure for taking up the job as a CTO. In this section, we will look at some of the components that make up the salary structure for this position.
CTO: Pay Scale Based on Location
Location plays a very crucial role when it is about determining the proper salary for a CTO. As you may already know, not all places have the same cost of living, and hence, a lot is determined based on the city in which you are taking up your job. Here are some of the Indian cities and the average salary packages they offer per year:
- Delhi - ₹14,67,192
- Mumbai - ₹13,31,024
- Gurgaon - ₹12,79,922
- Hubli - ₹12,52,315
- Bengaluru - ₹12,48,419
- Mohali - ₹9,24,321
- Chennai - ₹7,40,159
- Surat - ₹5,17,958
CTO: Pay Scale Based on Companies
Various companies require CTOs who can ensure that their goals are met adequately. Those industries also are from different domains. Hence, it is no wonder that the salaries offered to the individuals taking up this particular job role in various companies differ. For instance, Google's CTO salary will be different from the others. Here is a quick look at some of the top companies in India and how much they offer for this role per year.
- TCS - ₹ 1,10,00,000
- Infosys - ₹93,62,790-₹1,00,84,013
- HCL Technologies – ₹ 1,69,62,091
- Flipkart - ₹ 1,22,27,758
- Vodafone Idea - ₹ 97,00,000
- BNP Paribas - ₹34,30,000
- Capgemini - ₹ 91,80,000
- Delliote – ₹ 74,00,000
- Wipro - ₹ 56,00,000
- LTI - ₹ 51,80,000 Lakhs
- Pinnacle Solutions - ₹13,26,770
- BANK OF MAHARASHTRA - ₹12,39,788
- Glendale Academy International - ₹9,92,970
- Modello - ₹9,80,581
- Biotech Consortium India Limited - ₹9,58,902
- SKC - ₹5,95,782
CTO Salary in Top Tech Giants in the World
Here is an account of CTO salaries in the top tech companies in the world.
- Microsoft - $424,240/yr
- Google - $309,742/yr
- Amazon - $259,016/yr
- Tesla - $250,560/yr
- Facebook - $222,161/yr
- Apple - $221,262/yr
- Netflix - $214,724/yr
- Oracle - $216,000/yr
- Adobe - $217,000/yr
- Berkshire Hathaway - $200,857/yr
- NVIDIA - $213,145/yr
- UnitedHealth Group - $207,576/yr
- Twitter - $216,961/yr
The list above shows the base salary of CTOs. In addition to this, they receive stock options and bonuses as well.
Here you must remember that the salary structure also depends on the company you are working for. For instance, an average CTO salary for a startup and an established company will differ.
CTO: Pay Scale Based on Experience
As previously mentioned, experience plays a major role in determining the salary that an individual will get as a CTO. With the increasing number of work years and experience, one can expect to get a higher salary.
For someone who has experience of 3 years to 24 years, the salary may range from ₹ 9.4 Lakhs to ₹ 118.5 Lakhs. Therefore, the annual average salary in the range will be around ₹ 32.0 Lakhs.
CTO - A Vital Role That Compliments Change
A CTO needs to prepare its organizations for resilience, adaptability, and success in the face of change. With the advancements in technology, new skills are expected to be learned along with new ways of working. CTOs will need to guide their employees through such changes, motivating them and, as necessary, removing their fears. As CTOs, you need to adopt multiple personas within an organization-as the tech guy to the business team, as the business guy to the technology team. While this gives the CTO a lot of freedom, it can also make him or her feel lonely in this position.
Diverse thinking is needed to navigate this change, and for businesses, this means newer skills, relevant experiences, and future prospects. Although technology teams require a certain level of technical expertise, the attitude now takes precedence over aptitude. Businesses looking to onboard a CTO need to cast a wide net and consider even those from nontech backgrounds and train them in case their characteristics fit the company culture.
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Conclusion
CTO is a senior management position in any company. However, there are various other responsibilities that a chief technology officer needs to fulfill. This article discussed the salary structure that an individual could expect while working in this position. The package is determined based on various factors, including experience, location of job, and company. It also depends on the type of company you are working for. For instance, a startup CTO's salary will differ from those of other companies. If you want to improve your technology skills quickly, kindly check out KnowledgeHut’s web development Courses.
