The main part of the CTO job is to utilize his vast knowledge of information technology, for devising the IT framework of the organization. Being one of the most important persons in the functioning of the company, the CTO is entitled to good salaries, perks, and bonuses.
These officers mainly work for increasing research, development, and upgradation of technology, for the benefit of the company. They closely work with the IT team members and people belonging to the senior management. They have to undertake the important task of developing the web presence of their organization. A CTO has to keep a close eye on the changing technological trends, and he should have the eagerness to learn new technologies, which have been initially introduced in the market. He also undertakes the task of discussing the technological strategies of his company with the organization's clients, customers, employees, strategic business partners, and stakeholders.
Thus, it is a job for specialists, who should be highly qualified and vastly experienced. Generally, they should have a Bachelor's or Master's degree in engineering, or in different branches of science. Those with a doctorate could get the first preference. Since this position is included in the senior level management, companies recruit candidates who have spent several years in the industry, and are passouts of renowned educational institutes. Those with management degrees are also preferred for this position. Good managerial skills, communication and interpersonal skills, ability to grasp new technologies and concepts, ability to work in a team, patience, confidence, and hard work, are the qualities needed in order to become a chief technology officer of a company.
As these officers are one of the key players in the business development and expansion of an organization, their salary is much higher than the people engaged in several other professions. The pay scale mainly depends on their years of experience, educational qualifications, the organization for which they work, work location, and skills. They mostly earn between USD 150,000 and USD 200,000 per year in large multinational companies. Ones with a Bachelor's degree in Computer Science can expect to earn within the range of USD 100,000 to USD 150,000 per year. Those with a Master's degree in Computer Science can earn between USD 150,000 to USD 200,000 per year. However, those with a doctorate earn the most, and their income generally lies between USD 125,000 and USD 250,000 per year, and even more. Apart from those working the US, the chief technology officers working in Japan and Singapore also earn a handsome salary.
The benefits of stock options considerably increase the total earnings of these senior executives. Though very few people in the world are able to qualify for this high post, you should try your best and be optimistic for the same.