The chief information officer (CIO) is a role that supports the goals of the enterprise by utilizing information technology and computer systems. Other terms for this role are chief digital information officer (CDIO), information technology director, or information technology director. As the head of information technology and information systems, the CIO's primary responsibility is to support the CTO in the strategic direction of the enterprise. A CIO should have expertise in technology as well as business savvy. CIO's knowledge of technology The CIO's job description must include knowledge of a wide range of technologies, from artificial intelligence to cloud computing. He must also be able to analyze the business impact of new technologies. In order to do this, the CIO must step back from strict IT management and consider customer behavior, sales, and new product lines. Unlike a traditional CIO, the CIO must have business acumen. This is because the role of a CIO is to influence the business and drive change. The role of the CIO dates back to the late 1950s, when businesses began integrating computing into their operations. The second half of the twentieth century saw the beginning of the mainframe era, a period of computing where the position grew increasingly technical. In fact, mainframe era was named after the mainframe computer systems used by large enterprises. A CIO's knowledge of technology is essential to successfully lead an IT organization, but they must also possess managerial skills and be calm under pressure. They must also have experience leading projects and software development. They must also be adept at managing technological change and creating strong security shields. The CIO's understanding of technology must be at least an inch deeper than the CFO's. This helps him provide more effective leadership. Having strong business and leadership skills should be a hygiene factor, but these should not be the key differentiator in a C-team. However, the CIO should have responsibility for technology. Knowledge of technology is the ultimate source of competitive advantage. A CIO who understands the industry, the organization, and the business will lead the way in advancing the business and improving its productivity. Business savvy Today, being a CIO does not require an IT background. In fact, a CIO can be a business savvy person with a strong IT background. In fact, modern C-Suite teams typically include both a Chief Technology Officer and a Chief Data Officer. So, what makes a good CIO? Read on to learn more about the qualities a good CIO should possess. We hope you will find this article helpful and informative. Relationship with CTO The relationship between a CIO and CTO can be a delicate one. In some companies, the roles are very similar, but the scope and day-to-day responsibilities differ. The CIO, on the other hand, is the highest ranking person reporting directly to the CEO. As such, the CIO and CTO are on the same level, and their goals should be aligned. To maintain a good relationship, the CIO and CTO should communicate often. Traditionally, the CIO and CTO have been a joint position, but as technology has evolved and the CIO role has become more important, the roles have been separated. In many companies, theCIO is responsible for internal business operations while the CTO oversees technology strategy and growth for the company. A CIO must be a technologically savvy and business savvy individual, and the relationship between the two roles is essential to a company's success. The Chief Technology Officer (CTO) is a technical person who oversees the technological needs and investments of the company. The CTO may report to the VP of Engineering or the Director of Technology. Often, a CTO is an experienced technical professional who builds technology solutions and lowers costs for vendors and customers. A CTO may oversee product owners, software architects, and project managers. The CTO may be the company's most talented executive. While many analysts predicted that the CIO role would shrink, CDOs have grown in budget and influence. According to Anil Cheriyan, former CIO at SunTrust and now deputy federal government's director of technology transformation services, CIOs should view CDOs as partners. They are more likely to share the same vision and values for the organization. This is because they are both equally important to the company's success. Responsibilities One of the major responsibilities of thechief information officer (CIO) is to provide business applications that meet the needs of the company within the budget. The CIO is often under pressure to reduce costs, while still providing the highest level of service to users. To address the need for cost-cutting measures, CIOs may opt to outsource or to rent out IT resources. To ensure the security and privacy of the personal data of employees, they should have thorough knowledge of the industry and the specific needs of the company. Another role of the chief information officer is to oversee the use of information technology within the organisation. In most cases, the CIO reports to the chief executive officer, but in some organisations, they report to the chief financial officer or even to the commanding officer. First defined in 1981 by William R. Synnott, a former executive vice president of the Bank of Boston, the CIO's role has expanded to include the management of enterprise information systems. In addition to managing the IT department, a CIO may serve on the board of directors and sometimes as a member of the management team. The Chief Information Officer is responsible for the procurement of information technology, telecommunications, and related peripherals. The CIO develops and implements policies and procedures related to procurement of information technology and telecommunications within state agencies. This includes setting and enforcing policies for procurement and ensuring that these procedures are followed throughout the state. The Chief Information Officer is responsible for all aspects of the state's information technology infrastructure. Compensation While salaries for chief information officers are typically higher than those for other executives, this is not the case with all positions. Compensation varies widely based on the company, location, and experience of the individual. While the average US salary for a CIO is $216,656, the amount of compensation can be much higher, ranging from $357,422 to $702,500. This compensation is inclusive of annual bonuses and base salary, which can make the job more lucrative than other positions. According to the SEC, the average annual pay for a CIO is $303,269, or $146/hour. This is significantly higher than the national average of $165,676. The higher the education, the more compensation a CIO can earn. In the United States, the average CIO salary is $23,13% higher than the national average. In other countries, the compensation for CIOs is even higher. The education required for a CIO job varies, but it's generally a bachelor's degree. Many employers prefer candidates with an MBA or graduate degree. College majors to pursue include computer information systems, management information systems, IT management, and project management. While this is the norm, many tech chiefs have varied backgrounds, including business, management, and IT. If you have relevant experience, you could also consider a degree in networking, databases, or related fields. The average compensation for a CIO is $147,000 a year, according to 834 TurboTax users. This average salary includes all taxable wages, bonuses, and tips. A CIO's compensation can range from $65,500 to $461,500, and can also depend on their level of education, experience, employer, and location. However, pay for CIOs can vary widely. The job of CIOs is very important, and the compensation for this position reflects this.