A sizable share of CIOs say they're working with larger IT budgets in 2012 than they did last year, according to the latest, annual Society for Information Management (SIM) survey. With a membership of more than 3,500 CIOs and IT executives, SIM conducts the research to assess how CIOs feel about a range of work-related issues. While overall numbers are still short of pre-recession levels, the tech-budget increase is fueled at least in part to a growing appreciation among organization decision-makers for the tech department's impact upon achieving business objectives. In fact, it's more likely these days that you're reporting to the CEO, as opposed to the CFO. And you have more leeway to hire better talent, as salaries for IT staff are going up. These and other factors have contributed to an overall sense of stability for CIOs, as their average length of tenure at their current position has increased considerably in recent years. CIOs and tech execs from 195 companies took part in the research.
Nearly 5% of a corporation's overall revenue was allocated to the IT budget in 2012, compared to about 3.6% in 2011.
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