Lately we’ve filled 30 C-level vacancies in IT companies and discovered that neither candidates nor employers feel confident when it comes to numbers. For instance, $5,000 for a CTO, is it too much or too little? Who should get a stock option plan? Does a flexible schedule motivate?
This is precisely why we conducted a survey – to explore this topic. Today we are happy to share the results with you.
Our survey includes responses from 167 managers. Of them 130 respondents are males and 37 – females. Women, primarily, hold positions such as HR, COO, CMO or CEO.
The age of most respondents (97 persons) varies from 31 to 40. Average salary of a top manager from this age group is $5,000.
We obtained more detailed data from Digital, E-Commerce, FinTech, and Banking domains. The highest median remuneration is offered in E-commerce at $5,100.
The older the company is, the more mature processes are, including employee compensation. For the record, the number of years the company has been on the market doesn’t significantly affect the level of top managers’ remuneration.
The bigger the company is, the more employees it has, and the higher salaries are paid to its top managers.
* A peculiar observation: companies founded in the U.S. boast the highest median salary. Then Europe followed by Russia in the third place. The highest salaries along the top margin of the bar are offered by companies founded in Ukraine. (see slide 41)
It is fair to assume that Ukrainian businesses do not have a proper remuneration system and compensation package in place, and, therefore, they have to compete based on the “make it $500 more” principle.
38.3% of top managers do not receive bonuses (!).
Most managers receive an annual bonus (25.6%) or quarterly bonus (23.9%) which is dependent on a company’s income (36.67%) and/or department’s KPI results (32.78%).
Top managers are most satisfied with their bonuses dependent on individual KPIs.
More numbers and facts are available in the detailed Salary Survey by Indigo Tech Recruiters.
The survey reflects general information about salaries of top managers.
Later we are planning to launch a series of articles detailing salaries for separate jobs.
- for instance, CEO or CTO salaries based on company’s niche and type of work, country of origin, number of subordinates, educational background, work experience as well as other factors;
- ·or job satisfaction of CEO or CTO in view of pay level, compensation package, working hours, etc.
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We hope that this information will help you make the right life and executive decisions.
And, yes, we are curious – was this survey useful?
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