Contact us
CEO Kateryna Osadchuk and the Indigo Tech Recruiters team completed a traditional CTO salary overview in IT. Earlier, we released an overview of C-Level salaries for all staff members.
Now we are going to analyze individual job positions from the survey in details.
We express our gratitude to Fint8, represented by Anton Shulyk and Andriy Tertyshnyk, for their help in processing the data.
How much are Ukrainian CTOs paid in IT companies?
We received data from 45 CTOs in Ukraine. Only one woman among them earns $6,000, the salary bracket among other survey participants ranging from $6,150 to $15,700.
78% of respondents work in product companies, 87% work for businesses founded in Ukraine. 55% work in companies that have less than 200 employees.
The level of salaries in technical management roles has become noticeably higher.
Most likely, this had already occurred before the beginning of the war, when the market was actively growing.
According to the latest data, the median salary level is $9,250, while at the beginning of 2021 it was $7,250 and $6,000 in 2020.
Looking at the job positions breakdown, CTOs receive higher remuneration than VPs of Engineering — $9,500 and $8,900 at the median respectively. A larger gap is appreciable in the average values: CTOs earn $12,261, while VPs of Engineering earn $9,624.
The majority of interviewed CTOs are in age of 25—39 years old. Technical managers aged 35—39 earn the most — $10,000 at the median. However, if we look at the average or at 90th percentile, managers aged 25—34 are at the top. The remuneration of $22,800 is at the top of the salary bracket and $12,576 is on average.
Remuneration does not differ much depending on the age of the company.
Companies aged 1 to 3 years and aged 3 to 5 years have the same median remuneration. It amounts to $8,500.
And it is also the same in companies aged 5 to 10 years and over 10 years — $9,250.
However, if we look at the average values, the dependence is still observed — the older the company, the higher the salary. Thus, the average remuneration is $9,800 in companies aged 1—3 years and $12,118 in companies aged over 10 years.
Salaries vary depending on the number of employees working in the company. If there are less than 200 employees, the median salary is $8,350. If there are more than 200 employees, it is $12,000.
The most of the survey respondents are representatives of the product companies. If we look at the average remuneration values, the difference is negligible: CTOs earn $11,525 in outsource and outstaff companies and $11,137 in product companies. Also, the median difference is in favor of product companies. But at the top of the salary bracket, salaries are higher in outsource and outstaff companies — $19,500.
The most of CTOs and VPs of Engineering receive not just a fixed salary, but they have also bonuses, options or shares.
In addition to the level of salaries, we were interested to know factors of motivation, demotivation and about some working conditions.
It’s interesting that during the last survey (in 2021) the salary level was primarily important for employees in this job position (70%), but now this motivation factor is on eighth place (44%). And the top three are: freedom in making decisions and implementing them (73%), the culture of trust in the company (64%), and the value of the company’s products and services to customers (60%).
The main demotivation factors are incompetent management (mentioned by 42%), the lack of work-life balance (38%), and culture of distrust in the company (33%).
71% of CTOs mention they have an opportunity of flexible working, 53% receive payment for additional education, and 49% have medical insurance. 38% have options (compared to 20% in 2021).
We’ll be glad if the information proves to be useful for making the right business decisions.
By Kateryna Osadchuk, СЕО Indigo Tech Recruiters
Subscribe
Success! 