Job Description of a VP IT
Technology plays an increasingly important role in organizations, and mastering its possibilities has evolved into a competitive tool for businesses. A vice president of information technology leads technology strategies, serves on the executive team, reports to the chief executive officer and leads the overall information technology initiatives of the firm.
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Duties
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Vice presidents of information technology must understand the operations of the entire organization and address the company's critical information management needs. They hire, assign and manage computer specialists and other technical workers to implement projects. They approve budgets and equipment purchases. IT vice presidents, in fulfilling these duties, coordinate with other executives and organizational leaders. They meet with board members and provide direction to their staff.
Work Environment
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The work environment generally mirrors the generous compensation typically provided to executives, as well as the significant pressures that accompany top corporate jobs. Long hours, extensive travel and frequent transfers to other locations balance against high pay, large bonuses and numerous benefits. Additionally, according to CIO magazine in 2006, the scope and nature of top IT executives continues to evolve, creating some uncertainty as to the exact role a vice president of information technology should play.
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Education and Qualifications
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Differences in industries and firms create varying educational requirements for IT vice presidents. However, many of these executives hold a bachelor's or master's degree in business administration. Candidates for these high-level, very competitive positions usually need to demonstrate a history of excellent communication skills, executive leadership ability and considerable management experience.
Possibilities
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Executive positions tend not to increase in number as rapidly as other jobs, according to the U.S. Bureau of Labor Statistics. While expecting little to no change in employment of top executives from 2008 through 2018, opportunities will vary depending on the growth or decline of particular industries. In all cases, candidates for vice president of IT jobs should expect competition from other highly qualified individuals seeking advancement.
Compensation
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As do other executives, IT vice presidents receive some of the highest pay in the U.S.. Compensation packages often include hefty bonuses and lucrative stock options. However, pay varies widely, depending on the size of the company and other factors. According to the Occupational Information Network, corporate vice presidents earned an average of $158,560 annually in 2008.
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- Photo Credit computer image by Kit Wai Chan from Fotolia.com
