The top three highest paid chief information officers in 2006 work for financial services firms.

Timothy Shack of PNC Financial Services had a total 2006 compensation of $5.94 million, followed by Gregor Bailar of Capital One at $4.5 million and Steven Sadoff of Knight Capital Group at $1.99 million.

In an examination of proxy statements with the Securities and Exchange Commission filed from Jan. 1 through April 5 there were 13 CIOs who made more than $1 million. Total compensation includes equity incentive plans, stock options, bonuses and other items counted as pay such as transportation, expenses, insurance premiums and various benefits.