Get to know the salary for a VP of Information Technology. How much do they make and what is the average salary for a VP of Information Technology? We will help you to find the answers to these questions and more.
What Is a VP of Information Technology?
A VP of Information Technology (IT) is a senior executive who oversees all technology systems and infrastructure for an organization. They typically also serve as chief information officer (CIO) and head up the IT department. The CIO’s role in an organization is to oversee an organization’s information technology infrastructure and systems, including information security and data processing.
VPs of Information Technology oversee the development and monitoring of business strategies relating to technology, including strategic planning, budgeting, project management, and resource allocation. As such, they report directly to the Chief Executive Officer (CEO) or Chief Operating Officer (COO).
Salary for a VP of Information Technology
The average rate for a VP of Information Technology is $197,000. The salary range for a VP of Information Technology is between $145,000 and $400,000.
Salary for a VP of Information Technology By Geographical Region
The average rate for a VP of Information Technology varies by region of the country in which they are employed. For example, the average rate for a VP of Information Technology in New York is $247,000. In contrast, the average rate for a VP of Information Technology in San Francisco is $240,000.
With that, let’s see some factors that truly affect the rate for a VP of Information Technology.
Factors Affecting VP of Information Technology Salary
1. Industry
The industry plays an important role in the salary of the VP of Information Technology. For instance, the average rate for a VP of Information Technology in IT is $202,000; however, the average salary for the same position in advertising is $230,000. A VP of Information Technology in Retail earns $189,000, while the same position in IT earns $218,000.
2. Size of Employing Company
Generally speaking, the larger the company, the higher the rate for a VP of Information Technology. For example, the average rate for a VP of Information Technology at a company with more than 1 million employees is $195,000; however, it is $167,000 for companies with 10,000 employees or less.
3. Location of Employer
The location of the employer also affects the rate for a VP of Information Technology. For example, the average rate for a VP of Information Technology in Texas is $189,000; however, it is $198,000 in Washington. Likewise, the average rate for a VP of Information Technology in New York is $247,000; however, it is $240,000 in California.
4. Experience and Expertise level
Experience and expertise level play an important role in the rate for a VP of Information Technology.
For example:
- 2 years experience earns $177,000
- 20 years experience earns $242,000
- with no professional certifications earns $175,000
- with Microsoft Certified Systems Engineer (MCSE) certification earns $235,000.
5. Gender and Ethnicity Level
Gender and ethnicity level affect the salary for a VP of Information Technology. For example, female VPs of Information Technology earn $156,000; however, male VPs of Information Technology earn $197,000. Likewise, white VPs of Information Technology earn $200,000; however, Asian or Pacific Islander VPs of Information Technology earn $197,000.
