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
Divisional VPs of General Managers may not see large compensation differences if they transition into an upper-level role such as Chief Executive Officer. Chief Executive Officers on average make about as much as Divisional VPs of General Managers do. Divisional VPs of General Managers most often move into positions as Presidents or Chief Operating Officers. Presidents actually earn $7K less on average, however, and Chief Operating Officers earn $21K less per year than Divisional VPs of General Managers do.
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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.
Experience seems to be a major factor in determining the incomes of Divisional VPs of General Managers. Substantial, six-figure paychecks show up early in this area; folks who have worked for fewer than five years report earning a median of $110K. The average pay reported by folks with 10 to 20 years of experience is around $160K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $175K.
Pay Difference by Location
Washington offers some of the highest pay in the country for Divisional VPs of General Managers, 33 percent above the national average. Divisional VPs of General Managers will also find cushy salaries in Chicago (+31 percent), Houston (+27 percent), New York (+23 percent), and Dallas (+21 percent). The smallest paychecks in the market, 10 percent south of the national average, can be found in Raleigh.
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Key Stats for Divisional Vice President, General Manager
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