Divisional Vice President, General Manager Salary
Job Description for Divisional Vice President, General Manager
The divisional vice president/general manager must ensure all of the division's employees are working safely and efficiently. If changes in procedures are needed, these vice presidents must suggest these changes to the board of directors and oversee their development and implementation. These individuals also create and enforce quarterly objectives for their division, as well as coordinate with other divisions' leaders to ensure overall organizational goals are being met in an efficient, cost-effective manner.Read More...
The divisional vice president/general manager is also in charge of the direct hiring and firing for managers under their supervision; they must also provide guidance, instruction, and disciplinary action as needed for these subordinates. This position also includes providing overall divisional guidance to help maintain profits and minimize all risks. At times, these vice presidents may need to travel for reasons such as visiting clients' headquarters to meet with company management. This position also requires regular reports in the areas of credit, strategic planning, and credit risk. The divisional vice president/general manager is also required to determine if problematic situations can be solved in-house or if a third party is needed.
This position also requires the ability to build and manage small teams of upper management to provide in-depth reports and hands-on solutions for any of the problems that might be faced in that division. After the teams report, it is necessary for the divisional vice president/general manager to report results to the board of directors.
Requirements for this position vary depending on the needs of the company, its size, and the industry in which it operates. Generally, previous experience - including in a leadership capacity - is necessary.
Divisional Vice President, General Manager Tasks
- Provide extensive leadership and strategy development for the division.
- Identify, evaluate, and utilize new areas for financial growth.
- Determine quarterly goals and oversee the development of a marketing program.
- Evaluate the current operational infrastructure and optimize performance.
Common Career Paths for Divisional Vice President, General Manager
As Divisional VPs of General Managers make advancements in their career path, their salaries may not change right away. For example, the higher-level Chief Executive Officer position pays around the same amount as the Divisional Vice President of General Managers job on average. Many Divisional VPs of General Managers go on to become Presidents or Chief Operating Officers despite the fact that median compensation in those roles is reportedly $8K lower and $22K lower, respectively.
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Pay by Experience Level for Divisional Vice President, General Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Divisional VPs of General Managers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Divisional VPs of General Managers in the early stages of their careers take home approximately $118K on average. The average for people in the five-to-10 year group is only a little larger at $128K. After working for 10 to 20 years, Divisional VPs of General Managers make a median salary of $160K. In the end, more experience does seem to mean larger paychecks; seasoned Divisional VPs of General Managers with more than 20 years of experience earn a predictably higher median salary of $176K.
Pay Difference by Location
Atlanta is home to an above-average pay rate for Divisional VPs of General Managers, 39 percent higher than the national average. Divisional VPs of General Managers can also look forward to large paychecks in cities like Chicago (+31 percent), Houston (+29 percent), New York (+23 percent), and Dallas (+21 percent). In Raleigh, salaries are 10 percent below the national average and represent the lowest-paying market.
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