Dive Brief:
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CIOs are the youngest and among the shortest-tenured individuals compared with other C-suite roles, according to a new analysis by Korn Ferry. The only role that has a shorter tenure is the CMO.
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Looking at 1,000 U.S. companies by revenue, Korn Ferry found the average CIO is 51 years old. The youngest average CIO age is in the consumer industry, at 47, and the oldest is in industrials, at 54. By comparison the average age for all C-suite execs is 54.
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While other C-suite executives stay 5.3 years on average, a CIO's tenure is on average 4.3 years. CIOs with the shortest-tenure usually come from the industrial sector with an average of 4 years, according to Korn Ferry’s report.
Dive Insight:
Technology can change rapidly and so can the leaders tasked with implementing it. After a CIO accomplishes their goals, whether that is digital transformation or the implementation of more streamlined processes, they can move on to the next organization to undertake a new challenge.
There is also a certain amount of pride that comes with taking on a new role at perhaps a larger organization with a greater technology challenge.
At the same time, the competition for IT talent is fierce, so CIOs may be lured to new companies more often that other C-suite executives. Meanwhile, CEOs tend to be the oldest and longest-tenured C-suite executives, not as inclined to quickly move on to the next position.
No matter what their age, CIOs are also making good money. According to the 2017 tech salary guide released in September from Robert Half Technology, CIOs are expected to earn an average base salary range between $175,000 and $279,000 in 2017.
