A recent survey by salary.com, a Massachusetts-based consultancy for compensation data and software, depicted that CIOs will be drawing nearly $250,000 annually, along with CTOs and CISOs. The new salary structure, which has been in effect from March 29, 2018, has augmented the remunerations for job profiles in IT, data management, and software development. Professionals holding job profiles of Information Security Director, Business Intelligence Director are now receiving more than $160,000 while Data Warehousing Director is drawing close to $156,000.
Although these benefits will vary in different regions and industries, this raise also indicates growing demand for these profiles. The new salaries are expected to boost applications in these fields, thus helping bridge the skill gap the industry is currently facing. In January 2018, a report by ESG showed cybersecurity among the biggest areas with skill shortage. More than 50% respondents of the survey had agreed that their company was facing a grave shortage of cybersecurity skills.
The current increments also include data and analysis experts as BI and data privacy matters gain momentum. Although UK is below US in the remunerations list for cybersecurity experts, with GDPR implementation in May 2018 the demand for data privacy officers and cybersecurity executives is expected to intensify in EU region, including Britain.
