User:Dqp5391/Chief technology officer

Salary
In year 2020, the average annual salary of CTO in the USA is $161,525. The low-end annual salary of CTO is $96,915 and the high-end annual salary of CTO is $350,510. Annual bonus and benefits of CTO is $11,307. CTOs salary varies depending on industries. CTOs in the financial sector earn around $205,000.

Note: This information needs to be updated based on current CTO salary.

CIO vs. CTO
A CTO and chief information officer (CIO) are very similar. Primarily, CIOs work with the IT Department to perform everyday operations. On the other hand, CTOs are responsible for overarching technology infrastructure that align with the organization's goals. CTO's responsibility vary from one organization to another depending on the company's structure.

Strategic Responsibilities
Responsibilities of a CTO vary as per the organizational structure. These are some of the more cited responsibilities of a CTO.

Monitoring and Assessing New Technology
One of the key responsibilities of a CTO is to stay updated with the latest technological advancement. A CTO needs to understand the latest trend to monitor, evaluate, and select technologies. A CTO also needs to apply those technologies to future products or services. Pavan Nigam, CTO of WebMD, reports that an important part of his job is reading and evaluating large amounts of data about new products.

Strategic Innovation
CTOs are responsible to apply new strategic innovations. In some industries, new products are the way to stay in the market. In other industries, the products remain unchanged but the process to make them evolves.

Mergers and Acquisitions
During mergers and acquisitions, CTO's responsibility is to evaluate, review, study and value the technologies of the target company and to evaluate the synergies that those technologies can generate within the company.

Marketing and Media Relationship
Public relationship and product promotion are primarily the responsibilities of marketing and sales department. However, CTO steps in when it comes to accurately translate the product details to the customers.

Company Culture
Another responsibility of CTO is to build up the technology friendly company culture in order to attract the highest quality workforce available.