Despite Brazil's economic slowdown, local IT directors are still getting the biggest salaries in the whole of Latin America, according to a recent salary survey.
Average monthly salaries for those leading IT departments in Brazil range from $8,072 to $17,937, according to the survey carried out by PageGroup, which covered 31 roles across the 15 verticals that the recruitment firm covers.
"Even with the difficulties imposed by the current [macroeconomic] scenario, some recruitment areas continue to grow consistently, with great emphasis on engineering and technology, " says the study.
The information technology (IT) sector is responsible for the largest slice of the jobs market for degree holders in Brazil - out of the 304,300 positions created in the last three years, 48,700 jobs were IT related.
But it seems that skilled candidates to fill those vacancies simply don't exist - and that is one of the reasons behind the high salaries seen in Brazil IT, according to the Page Group research.
"The lack of qualified people to keep pace with this growth, is a constant challenge. This directly influences the remuneration of professionals," the study adds.
"Some companies have faced increasing difficulties in filling management positions. The requirements in terms of the behavioral and technical profile of professionais, coupled with the shortage of qualified personnel, make recruitment processes increasingly lengthy and expensive."
The salaries in Brazil compare with the mean compensation for CIOs in large enterprises in the US, which according to a mid-year survey by Janco Associates, is $182,210 and $165,702 in mid-sized enterprises.