How to Become a Chief Technology Officer

04 Mar How to Become a Chief Technology Officer

Typically, CTOs come from an educational background in Computer Science, Information Technology, Engineering, or Mathematics. As the people in charge of the tech team, their responsibility lies in assembling skilled individuals who will work together to deliver a product or service. They support these teams through their guidance and expertise and set standards in multiple aspects of work, be it in tools, overall product delivery, or performance criteria. As the job description changes, we might see CTOs emerge from fields outside of traditional IT, such as R&D, data science or sales. In any case, versatility and flexibility will be key intangible attributes, because the role of CTO continues to evolve just as fast as technology itself.

Any type of technical background with hands-on experience will be ideal before someone applies for a CTO position. Lee’s commitment to the industry is showcased with over 20 years of IT leadership experience in leveraging technology innovations to spur business growth and profitability in scientific and government-regulated environments. With the years of education and experience required to become a CTO, organizations know the importance of paying a CTO well. According to the compensation website PayScale, the average median base salary for a CTO was approximately $163,300 as of June 2021. This base salary is expected to increase in the coming years, as competition for hiring CTOs becomes more intense. Technology, applications, and cybersecurity are in a constant state of flux, and successful CTOs know they need to be adaptable to change and proactive in their strategy.

Some people know their overall career goals after their first job, whereas others may have a more gradual and unceremonious approach to reaching the C-suite. The Chief Technology Officer is expected to have leadership skills, demonstrating the importance of good decision making and strategic discipline through example. Wiser reports to CBS chief operating officer Joe Ianniello and Jim Lanzone, who is CBS’ chief digital officer and president of CBS Interactive.

What does a Chief Technology Officer do?

Perhaps you’re working in or preparing to work in the information technology field, and you wonder what a chief technology officer does? It’s a good question, since this is a relatively new job title and focus, one that has emerged as companies rely more and more on technological solutions and innovation. In addition to technological expertise, a CTO must have the confidence to effectively lead a team of people across multiple departments. To become a successful CTO, a professional must be proficient in technical, business, and management skills. A chief technology officer is an executive who is responsible for the management of an organization’s research and development (R&D) as well as its technological needs. If you’re interested in becoming a chief technology officer, one of the first things to consider is how much education you need.

While this may not be a requirement for a CTO, it can help to develop your skill set and accelerate your career progress. During your postgraduate studies, you’re likely to perform complex tasks that increase your knowledge of the technological field and its applications in real-world situations. Coursework often includes modules that teach you how to manage people and projects effectively within a workplace.

Mr. Schroepfer, 46, who has worked at Facebook for more than 13 years, plans to transition into a newly created role as a senior fellow, which he said would allow him to focus on activities outside the company. He said he would spend more time with family and on personal philanthropic efforts while continuing to recruit and develop technical talent for Facebook. Facebook Inc.’s chief technology officer, a long-serving top lieutenant to co-founder Mark Zuckerberg, said on Wednesday he will step down from the role next year.

Key Steps To Become a Chief Technology Officer

The overall daily tasks of a CTO will depend upon which type of CTO the organization requires. The pathway to becoming a Chief Technology Officer , which is one of the highest-ranking C-suite positions in any organization, begins with any technology or information-based position. To reach this prestigious level in one’s career, individuals will require experience within the fields of both technology and business. A balance of these fields provides the necessary insights to be able to lead at this level. While a technical degree may not be necessary, at least a bachelor’s degree of some kind is often a requirement for these roles.

In this role, a CTO will act as a liaison between the customer and the business by taking on the responsibilities of customer relations, getting a grasp on the target market, and helping deliver IT projects to market. There are typically four different kinds of CTOs, whose main duties may differ. As technology focuses more on integrating applications, processes, and the Internet of Things, CTOs must keep abreast of big data, streaming analytics, and cloud technology to remain innovative and stay competitive. Timothy Li is a consultant, accountant, and finance manager with an MBA from USC and over 15 years of corporate finance experience. Timothy has helped provide CEOs and CFOs with deep-dive analytics, providing beautiful stories behind the numbers, graphs, and financial models.

In the United States, the average salary for a CTO ranges between $130,000 and $195,000 per annum depending on the company’s sector. According to a 2018 report from the InfoSec Institute, CTOs in the financial sector earn around $200,000, while e-commerce CTOs earn around $76,000. CTOs often make judgements about a company’s technological requirements and how to implement new technologies. Your ability to intuitively make decisions or use your expertise to recommend solutions can contribute positively to organisational growth. A wide array of organizations might employ a CTO such as large corporations, medium enterprises, tech startups, government agencies, non-profits, and more.

Amid the alphabet soup of C-roles, is the CTO title destined to be pushed out and fade away forever? Because companies still need an executive whose job it is to keep an eye on the technology horizon and ensure the organization stays current, relevant and, ideally, ahead of the pack. Originally a chief information officer previously performed dual roles as CIO and chief technology officer .

Step 1: Education

Creating and managing the company’s technological vision and plans so they align with its business goals. Learn how to focus and assimilate key knowledge around emerging technologies. Chief technology officers evaluate new technology and implement it to launch or improve goods and services for their firm’s clientele and customers. Becoming a CTO often involves at least 15 years of IT experience, along with a graduate degree and certifications in computer sciences and business administration. The ability to navigate complex situations calmly and confidently can benefit a CTO.

A master’s degree may offer an advantage when applying for CTO roles in prominent organisations. It will also be highly beneficial if an individual works in a more business-forward role prior to becoming a CTO. And CTOs typically spend much time fine-tuning their technical skills over the years with certifications to ensure they remain on top of the latest trends and challenges. They are in charge of managing all aspects of technology, including strategy, software development, innovation, cyber security, artificial intelligence, cloud computing, and more. There are two primary types of CTOs, which are a technical lead and an operational lead.

The most common jobs before becoming a chief technology officer are senior software engineer, software engineer, and consultant. Depending on company structure and hierarchy, there may also be positions such as R&D manager, director of R&D and vice president of engineering whom the CTO interacts with or oversees. Chief technology officer jobs are all across the country in industries like technical consulting, information services, engineering, and advertising.

Looking for Chief Technology Officer jobs?

Mike Schroepfer, who leads the company’s artificial intelligence and other technical efforts, said he planned to transition into a role as a senior fellow. This all led to the creation of the position of Chief Technology Officer by large companies in the late 1980s with the growth of the information technology industry and computer companies. They may also lead teams and supervise other employees in planning and implementing technologies. An average of 40 hours or more a week is common, depending on the organisation and the urgency of certain projects. An application development director is responsible for the planning, coordinating, and supervising of various application projects.

• While CTOs were once primarily found in larger companies, they now also work with small firms, given that so many small businesses require the specialized skills and technical background they offer.
• For businesses, having a chief technology officer who keeps up with advances and leads technology programs is increasingly important.
• Moreover, their job responsibilities call for a range of skills they must possess and hone over time.
• For this reason, they must have great organizational skills and be able to coordinate the work of their team with efficiency.
• Mr. Schroepfer’s departure was announced as Facebook faces intense scrutiny for issues as varied as toxic speech, misinformation and privacy.
• One way to prepare to advance in this promising field is to learn more about Maryville University’s master’s in cybersecurity online program.

A CTO may work with other departments, such as marketing, sales and customer service, to ensure that all products run smoothly and efficiently. They also manage the process of identifying and implementing new technologies for business processes. A Chief Technology Officer is responsible for the long-range direction of an organization’s technology function.

CTO responsibilities

The CTO title has been in use for over 10 years, but there is still confusion about the role and how it differs from the CIO. The title first developed at dot-com companies in the 1990s and then expanded to IT departments. The CTO role became popular as the information technology industry grew, but it is also used in other industries such as e-commerce, healthcare, telecommunications, and government. The continued growth of business conducted over information systems is the main cause of employment growth in this role. Rapid advancements in business solutions and growth in mobile device usage and cloud computing usage have also contributed to the expected increase in job openings.

Why is Innovation Important in Leadership?

This director position also oversees the designing, developing, and implementing of application analysis and development. The overall goal of such projects is to improve upon operational functionality and to increase outside sales. A CTO carries the power of envisioning how technology can help a company excel, and the responsibility of implementing feasible changes based on time, budget, and necessity.

Step 8: Explore Career Path of Chief Technology Officer

Some organizations will prefer a more technical-based degree or major such as computer science, information systems, information technology, database administration, cyber security, and more. Other employers will prefer a business-based degree or major from their CTO candidates including management information systems, business administration, operations, and more. While the degree is essential, it is only one crucial step in becoming a CTO.

Find Chief Technology Officer Jobs Near You

Generally, a CIO is responsible for technologies that run the company’s internal operations and business procedures. The CTO is responsible for technologies that grow the business externally, implementing services and products that serve clients and customers. The fastest pathway to CTO is not necessarily the only way to securing a CTO chief technical officer step position. These individuals can advance to executive roles without a degree as long as they have the right experience and a proven track record of success. It’s also possible to reach the heights of CTO with certifications over degrees. Again, it will be necessary to complete the right certifications and gain the right experience.