Chief digital officers across sectors pocket sharp salary hikes
According to data from Aon, shared exclusively with ET, chief digital officers across sectors saw the highest jump in median compensation at a compounded annual growth rate of 14% from 2019 to 2022. It rose 13% each for chief technology officers and chief risk officers, and 10% for chief marketing officers, data from 475 companies showed
Source | economictimes.indiatimes.com | Prachi Verma | Saumya Bhattacharya, ET Bureau
The pandemic-induced digital transformation resulted in the sharpest salary hikes for chief digital officers, chief technology officers and chief risk officers — the roles that played change catalysts in the post-Covid workplace.
According to data from Aon, shared exclusively with ET, chief digital officers across sectors saw the highest jump in median compensation at a compounded annual growth rate of 14% from 2019 to 2022. It rose 13% each for chief technology officers and chief risk officers, and 10% for chief marketing officers, data from 475 companies showed. The median compensation includes fixed and annual variable pay.
The trend is likely to continue for now, according to compensation experts and search firms ET spoke to.
Roopank Chaudhary, partner and chief commercial officer, human capital solutions at Aon, said: “As business priorities have evolved, organisations across sectors are shoring up their technology teams, which is creating a huge demand for tech and digital skills for which supply still remains limited. As a result, these roles command a sizable premium in the market, reflected in the increments for the CDO being the highest, closely followed by the CTO.”
