January 5, 2009
(Computerworld) --
For those who make it to the top of the IT ladder, the pay can
be great. But most IT executives are losing ground as a result
of the economic recession, according to a new report released
today by Janco Associates Inc.
Janco, a Park City, Utah-based IT consulting
firm, said it found that the mean compensation for CIOs in large
enterprises is now $168,839, a 6.11% decrease from a similar
study it issued a year ago. In midsize organizations, the
current average is $163,211, a drop-off of nearly 5%, said
Janco, which cited reductions in bonuses and fringe benefits for
the compensation declines.
The firm collected data from 231 organizations
and culled information from filings submitted to the Securities
and Exchange Commission. As part of its report, Janco also
compiled a list of some of the most highly paid people working
in IT, although several of the people on the list have multiple
responsibilities at their companies — while others have taken
new jobs since the compensation data was publicly reported. The
list is based on information available as of last summer and
covers the preceding 12 months, Janco said.
The highest-paid executive that Janco found is
Jeffrey Fox, chief operating officer at Alltel Corp., a Little
Rock, Ark.-based telecommunications firm. Fox, whose
responsibilities include IT, network services and enterprise
security, has an annual salary of $673,000 and total
compensation of just over $9 million, Janco said.
Second on the consulting firm's list is Robert
Willett, CEO of Best Buy Co.'s international business unit with
worldwide responsibility for the retailer's information systems.
Janco said that Willett's salary is $623,000 and that other
compensation raised his total intake to nearly $8.6 million.
Third is Jean Davis, who has been head of
operations, technology and e-commerce at Wachovia Corp. and was
paid a salary of $205,500, with total compensation of $7.3
million, Janco said. Wachovia was acquired by Wells Fargo & Co.
in a merger that was completed on Dec. 31.
The following round out the top 10, according to
Janco:
-
Larry Kittelberger, senior
vice president of technology and operations at Honeywell
International Inc., with a salary of nearly $600,000 and
total compensation of $6.4 million.
-
Joseph Antonellis, CIO and
vice chairman at State Street Corp., with a $669,000 salary
and $6.3 million in total compensation.
-
Glen Salow, executive vice
president of service delivery and technology at Ameriprise
Financial Inc., with a salary of $475,000 and total
compensation of just over $6 million.
-
Timothy Shack, who currently
is listed on The PNC Financial Services Group Inc.'s Web
site as chairman of the company's PNC Global Investment
Servicing unit. In a previous SEC filing, Shack was
identified as
PNC's CIO, with a reported salary of $510,000 and total
compensation of nearly $6 million.
-
W. Roy Dunbar, who received a
salary of $600,000 and total compensation of $5.2 million as
CIO at MasterCard International Inc. Dunbar was named CEO of
Network Solutions LLC last January.
-
Bob DeRodes, who received
$715,192 in salary and nearly $5.2 million in total
compensation before leaving his job as executive vice
president and CIO at The Home Depot Inc. last year. DeRodes
is now chief technology officer at First Data Corp.
-
Harvey DeMovick, CIO and
executive vice president at Coventry Health Care Inc., with
a salary of $600,00 and total compensation of nearly $4.7
million.
