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Am I the only one underpaid?

Title: Navigating the Challenges of Being an Underpaid Tech Executive: My Journey as a CTO

In the bustling world of a mid-sized law firm in North Carolina, I find myself thriving in a role many would envy: Chief Technology Officer (CTO). My passion for innovation and crafting solutions that propel the business forward is unwavering. However, I grapple with a nagging suspicion that my compensation doesn’t quite reflect the breadth and depth of my contributions.

The title of “CTO” comes with its own set of expectations and responsibilities, yet the reality often blurs these lines. My days are a whirlwind of diverse tasks: overseeing our Salesforce case management system, resolving daily helpdesk inquiries, managing routine system administration, analyzing staff performance, leading IT projects, and, whenever possible, delving into cybersecurity essentials.

Currently, my sole team member spearheads the technical support and assists with admin tasks. Expansion of my team would undoubtedly ease the workload, yet convincing leadership of this necessity remains an uphill battle—there’s a noticeable hesitancy when it comes to increasing staffing costs.

Earning $90,000 annually, I can’t help but question whether this figure accurately reflects my role’s demands. The duties associated with being a Salesforce administrator alone might warrant a similar salary in another context.

With 80 users reliant on our firm’s IT infrastructure, I’m searching for insight. Is my current compensation fair, given the scope of my role? Should I consider transitioning to a role where the responsibilities, title, and salary align more closely? Despite my appreciation for the work I do, the environment, particularly in terms of remuneration, leaves much to be desired.

With 12 years in the IT industry, including 7-8 years in leadership roles and 3-4 years at the executive level, I stand at a crossroads. The pressing question remains: Am I truly being compensated justly for my expertise and efforts? Your thoughts and advice would be invaluable as I ponder my next steps.

One response to “Am I the only one underpaid?”

  1. ccadmin avatar
    ccadmin

    It sounds like you’re shouldering a significant amount of responsibility in your role, and you’re right to evaluate whether your compensation reflects your workload and expertise. In many mid-sized companies, titles like “CTO” can often mean wearing multiple hats, but that doesn’t mean the workload’s value should be underestimated.

    First, it’s crucial to assess your position against industry standards. Based on your location in North Carolina and your extensive experience, your current salary seems to be lower than what the market generally offers for similar roles. A CTO in a mid-sized firm typically earns more, especially someone with 12 years of IT experience and proven leadership capabilities. Even if we examine the Salesforce admin role separately, it often commands a competitive salary because of the specialized skills it requires.

    Here’s what you might consider doing:

    1. Conduct a Market Research: Use resources like Glassdoor, Payscale, or LinkedIn Salary Insights to compare your compensation with industry benchmarks. Pay attention to the salaries for CTOs in law firms or other professional services in your geographical area.

    2. Document Your Contributions: Begin documenting your contributions and the scope of your responsibilities. This not only helps in salary negotiations but also provides clarity on the range of impact you have on the firm’s success.

    3. Prepare for a Salary Negotiation: Approach your boss with a well-researched and documented request. Highlight key projects you’ve led, improvements in company performance due to your initiatives, and use market research data to bolster your case.

    4. Consider Professional Development: While you seem to possess a robust skill set already, obtaining additional certifications in areas like cybersecurity or Salesforce can further enhance your value proposition and bargaining position.

    5. Evaluate Organizational Culture: Consider whether the firm supports professional development and upward mobility. If not, and if increasing pay and expanding your team are not priorities for them, it might be worth exploring opportunities elsewhere.

    6. Explore Networking Opportunities: Connect with other IT professionals and CTOs. Networking can offer new perspectives on career opportunities and compensation standards, and potentially lead to opportunities where your contributions are more fully recognized and rewarded.

    Ultimately, if you consistently find your contributions underappreciated, exploring roles that align better with your expectations regarding title, responsibilities, and compensation might be worthwhile. Balancing a job you enjoy with equitable compensation is critical to long-term career satisfaction and success.

    Reply

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