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CIO Pay Days: Meet Some of 2024's Highest Paid Information Technology Executives
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What's up: It's official. Meta announces its “Superintelligence Labs” unit; Canada drops digital-service tax; Steven Rosenbush on why Corporate America didn’t hesitate to go all-in on AI.
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From left: Sudarsan Thattai, chief information and transformation officer at Lineage; Amy G. Brady, chief information officer at KeyBank; and Rajat Taneja, president of technology at Visa. Photo Illustration: Thomas R. Lechleiter/WSJ; Photos: Lineage (Thattai), KeyBank (Brady), Visa (Taneja)
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Good morning. Paychecks for top technology leaders at U.S. companies are increasing faster than the number of letters in their titles, a reflection of expanding responsibilities in the age of AI.
“Technology leaders have wised up,” Alyse Egol, a senior client partner of Korn Ferry’s digital, technology and security officers practice, tells the WSJ’s Belle Lin. “They’re saying, ‘My value is above and beyond just keeping the machine running.’”
Consider: The median pay for CTOs rose 30.81% in 2024 from the previous year, to roughly $2.4 million, according to data from C-Suite Comp, an executive and board pay analytics firm. The base compensation for CIOs, meanwhile, is growing by roughly 20% to 30%, said Martha Heller, chief executive of IT executive recruiting firm Heller Search Associates.
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For the CIOs taking home the biggest paychecks, that comes with an increase in the number of titles they hold. Seven of the 10 top-paid CIOs have more than one title, with six holding the dual titles of CIO and chief digital officer. Two of the top-paid CIOs also hold the title chief transformation officer.
“From a budget perspective, it’s two functional leaderships for the price of one,” said Heller. “When somebody reports to a CEO and they have a bunch of different titles, it means the CEO is considering them to be a partner.” Read the story.
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Content from our sponsor: Deloitte
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3 Ways to Accelerate Digital Product Development With Generative AI
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Organizations can apply generative AI across the digital product life cycle to help drive growth and realize substantial business value. Read More
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Meet Meta's New ‘Superintelligence Labs’ Unit
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Mark Zuckerberg has gone on a hiring spree in recent months. Photo: Manuel Orbegozo/Reuters
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It’s official. Mark Zuckerberg announced a new “Superintelligence” division within Meta Platforms, WSJ reports. Former Scale CEO Alexandr Wang will lead the team as chief AI officer, and former GitHub CEO Nat Friedman will lead the company’s work on AI products, according to an internal memo.
The new organization, called Meta Superintelligence Labs, will house Meta’s fundamental AI research team, its Llama team, and the team that develops Meta’s AI products—as well as a new lab focused on “developing the next generation of our models.”
Zuckerberg also announced 11 new hires for the team—several from OpenAI, two from Google DeepMind and one from Anthropic. Meta has also hired three additional OpenAI employees from its Zurich office, the Journal previously reported.
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