With so many uncertainties in the world it is difficult to predict the future but it doesn't need a crystal ball to predict that India is primed to become the powerhouse of the global economy.
With macro-economic stability, infrastructure-led economic growth opportunities, financial sector reforms, and positioning as a strong player in global supply chains, India is primed for exciting times at the centre of which are the innovation centres and tech centres emerging across the country.
At the heart of these clusters are the tech leaders and CTOs charged with making the magic happen.
The chief technology officer (CTO) is generally regarded as an organisation's top technical expert in Information Technology.
They tend to oversee the technology strategy and make sure that it aligns with business goals.
There can be an overlap with the Chief Information Office (CIO) but the best way to define a difference between the roles is that the CIO tends to focus internally on technology for the business, whilst the CTO is more outward facing with a focus on technology for the market.
A good CTO must have sound knowledge of IT systems, business management skills, and possess highly effective leadership qualities.
CTOs are expected to be technically competent so the difference between a good and great CTO is almost always down to their leadership aka soft skills.
They should be able to think critically and creatively, have strong communication skills, be well organised, have people and time management skills, and be results oriented. They should also have effective emotional intelligence attributes that enable them to truly lead and understand how to lead.
There is no typical career path - the enterprise CTO is likely to have started working at smaller organisations to gain experience before moving to larger organisations. Their learning development process has been steady, gradual and often highly focused on career.
The start up CTO might have been thrown in at the deep end and ahead of career schedule. The learning curve is extremely steep and the immediate challenges are many and varied. Often it's about putting out constant fires and how to drive traction and engagement for product and business. It's all about process, hiring and product.
Now this is not an easy question to answer for two reasons.
1. Different websites say different things and;
2. Many CTOs in the tech sector will have their reward linked to performance, stock options etc. so the headline salary with one company might not be as attractive as elsewhere, but the overall package is highly incentivised towards the success of that business.
But we have to start somewhere ...
According to Payscale.com the average CTO salary in India is ₹2,920,661 ($40,000) but as their research indicates, total pay including bonus and profit sharing can range between ₹800k - ₹9m ($11,000 and $123,000).
Glassdoor suggest that the average is lower at ₹2,677,059 ($37,000).
We thought it would be interesting to research the differences between Indian Cities and our research indicates significantly higher base salaries if you're based in the major tech centres, remember again that many of these "salaries" will be attached to "bonus and profit sharing" so treat the headline figures with caution but, it shows the disparity between what these sites claim are the overall average ...
Kolkata / Chennai $54,000
The talent emerging from India is phenomenal and will only get stronger.
Whilst it's good to know market rates, what's more important is to understand and grow your market value.
There is a huge demand for high impact CTOs and technology leaders and your route to exceeding these average salaries is to enhance your leadership skills so the negotiating balance of power is in your hands.
CTO Academy provide the technology leadership courses, coaching and career development to help you achieve your optimal career performance and reward.