Overview of the salary for C-level in the Ukrainian IT market in 2019

Twitter
Linkedin
Facebook
Telegram

CEO Ekaterina Osadchuk and the Indigo Tech Recruiters team conducted the second annual review of C-level salaries in IT. We share the results

Business CEO Salary review СМО IT Professions HRD CTO COO Top manager


CEO Ekaterina Osadchuk and the Indigo Tech Recruiters team conducted the second annual review of C-level salaries in IT. 

We share the results.


Hiring mistakes and losing key people cost the company dearly — especially in the highly competitive IT market.


Having filled dozens of C-level positions, we understand how important it is to know the level of remuneration for top positions and make the right decisions, both when hiring and retaining such employees.


Actually, this was the reason for another review of salaries. The results of the previous research on this topic can be found here.


A total of 201 top managers answered our questions. 140 of them were male and 61 were female. Basically, women hold the positions of HRD, COO and СМО. We suppose that this fact explains the difference in salary — CEOs and CTOs earn more than HRDs, for example.

Overview of the salary for C-level in the Ukrainian IT market in 2019


The majority (58%) of the survey participants are between 31 and 40 years old. The average salary of a top manager of this age is $5, 419; the top level is $9, 800.

Overview of the salary for C-level in the Ukrainian IT market in 2019


The difference between the average salary of a top manager 21-30 years old and 31-40 years old is almost 46%.


So, if you are dissatisfied with the level of your salary and you are under 31 years old, there is good news — get a few more years of experience and the remuneration will increase significantly.


The largest amount of data was obtained in the areas of Digital, E-commerce, FinTech and Banking. In the last two areas, as in the previous year, the highest median salary is $5, 498$ to $5, 653; the maximum level is $9, 083 to $9, 610.


In other areas, $10, 000 to $14, 500 salaries exist, but these are rare cases.


The older the company, the higher the salary is for top managers.

Overview of the salary for C-level in the Ukrainian IT market in 2019


The table shows that, in startups (from 1 to 3 years), the average level of remuneration is quite high. In general, the range of salaries is wide.


There are two reasons for this:

  1. In startups, the processes and, in particular, the remuneration system, are not established at the level of an “adult” company, and the decision on remuneration is usually made ad hoc.
  2. Attracting employees to a startup is not always easy — sometimes you have to poach professional managers by paying them more.


The larger the company, the higher the number of employees is, as is the level of salary for top managers.

Overview of the salary for C-level in the Ukrainian IT market in 2019


Also, companies based in the United States or Canada offer larger remuneration than Ukrainian or European companies.

Overview of the salary for C-level in the Ukrainian IT market in 2019


As for the KPI, for the second year, I am surprised by the fact that 38. 3% of top managers do not receive bonuses.


For most managers, the bonus is either annual (31. 3%) or monthly (24. 9%) and depends on the company’s profit (43. 8%) and/or the company’s total revenue (30. 35%).


The most satisfied top managers are those whose bonus depends on the company’s profit. Managers who receive no bonuses at all are the most unmotivated.


To sum up, the biggest remunerations are in E-commerce and FinTech companies with revenues of $50+ million and 800+ employees that were founded in the US or Canada more than 10 years ago.


Top managers with more than eight subordinates, more than 10 years of IT experience, and more than 10 years as a top manager who have an MBA or Ph. D. have the highest remuneration.


Managers are motivated by professional growth (65. 7%), the level of salary (62. 7%), freedom in decision making and implementation (61. 19%), a culture of trust in the company (49. 2%), a flexible schedule (45. 3%), and competent, effective management of the company (41. 8%) — probably by themselves.


Find more facts and figures in the detailed Salary Survey presentation by Indigo Tech Recruiters.


Salary survey С-level 2019
Our study provides general information on the salaries of top managers.


Later, we plan to release a series of articles with detailed overviews of remuneration for individual positions. For example:

  • the level of salary of the CEO or CTO depending on the scope and type of work of the company, the country of foundation, the number of subordinates, as well as education, work experience, and other factors.
  • job satisfaction of the CEO or CTO depending on the level of salary, compensation package, schedule, and so on.


We hope that this information will help you make the right life and management decisions.


And yes, we are wondering whether the study will prove to be useful.


Please email us with any feedback: info@indigo.co.ua.


Author: Ekaterina Osadchuk, CEO of Indigo Tech Recruiters

Info
Author: INDIGO Tech Recruiters
17294 Views
Category C-level
17.02.2020
Common articles
Why you do not need an outstanding CEO, CTO, CFO and other CxO
You need good and competent management to make your company grow and develop. But, you don’t have to entice Satya Nadella from Microsoft. When you hire a CEO, CTO or a ma..
“Our managers spend around 30% of their time searching for talent”: an interview with Maxim Shtepa, CEO of SocialTech
From the experience of Indigo , one of the keys to effective recruitment is the dialogue between parties. That is why we have decided to publish a series of interviews ..
Survey on C-Level Salaries in the Ukrainian IT Industry in 2022
Learn about how the war in Ukraine affected the income and motivation of Ukrainian IT companies’ top managers from our new salary survey.
Why does your business need a recruiter?
This article may be of use to owners and directors familiar with Ukrainian IT realities who want to improve their recruiting and also to those foreign companies who are i..
Ageism in IT and how to deal with it
The author: Anya Stetsenko is an IT-recruiter, entrepreneur, and simply a happy woman. She has been managing Indigo recruitment agency since 2007 and has been bringing ne..
COMPANY IS ALWAYS MADE BY TALENTED PEOPLE. DIALOG WITH LESYA ARNOLD
We dreamt for a long time to have an interview with Lesya
C-Level Executive Salaries in Ukrainian IT Sector in 2021: Overview
CEO Ekaterina Osadchuk and the Indigo Tech Recruiters team gave the third annual overview of how much C-level executives make in the IT sector. We share our results with ..
Iownit: “We keep our communication transparent, and require this from everyone in our company”
If you haven’t heard of iownit yet (which would be surprising), allow us to fix this right away. lownit Capital and Markets, Inc
Thrifty Recruiting: Soul or Flesh?
About the author: Katya Osadchuk. CEO of Indigo. Economist, professional psychologist, and a savvy HR with over 10 years of experience, 6 of them as HR Director. She know..
Does HR Help a Company Earn Money or Just Spends It?
Katya Osadchuk— CEO, IndigoIT recruiting agency, economist, professional psychologist, and HR with over 10 years of experience, 6 of them as HR Director. This article is ..
Overview of C-Level Salaries on Ukrainian IT market
Lately we’ve filled 30 C-level vacancies in IT companies and discovered that neither candidates nor employers feel confident when it comes to numbers
How to hire the best Web Developers? We know, and we are ready to share our experience.
Finding a black cat in a dark room is hard…Especially if there is no cat!
WHY DO US COMPANIES OPEN OFFICES IN UKRAINE
More and more of the world’s best known companies are choosing to open R&D centers in Ukraine. Household names such as — EPAM, Luxoft, Ciklum, Intetics, TEAM Internationa..
7 trends in the IT labor market with statistics (which you will surely object)
It is a thankless duty to formulate trends, as one risks to play Captain Obvious or to receive “Don’t make something out of nothing, in fact, the opposite is true” as fee..
The Coming Days: 10 Characteristics of the Team of the Future
We have already discussed personal skills of the future. In this article, we decided to talk about how teams are transformed and which skills and characteristics they sh..