That's often when a CTO is brought in. Rising demand for IS executives is also resulting in lucrative compensation packages that include perks such as signing bonuses and stock options. In fact, for a lucky few, base pay is the smaller part of the total compensation package. Signing bonuses are perhaps the most attractive benefit, since executives don't have to do much more to earn them than say yes to a new job. And money up front talks even more.
Anecdotal evidence shows that signing bonuses work.
But signing bonuses can also make sense for the business, Greenleaf adds. It doesn't put the company's whole salary structure out of line. As companies bid for CIOs, some are getting more creative in their offers. Stock options are becoming a greater piece of the overall package, too, making the value of a company's shares a way of attracting CIOs and other IT executives. Other, less common benefits are stock plans, sabbaticals, company cars, and day care.