Vice President, Chief Operating Officer (COO) Salary
Commissions comprise a big part of overall income for Chief Operating Officers. The median take-home amount in this area is around $156K, and on average, just under one in three of that final number comes from commissions. In the world of Chief Operating Officers, overall cash allowance can occasionally include more than $60K from bonuses and, in some exceptional cases, $30K from profit sharing, causing incomes to vary widely between $82K and $259K. Residence is the biggest factor affecting pay for this group, followed by career length. Medical benefits are awarded to most, and a strong majority earn dental coverage. Job satisfaction is reported as high by the vast majority of workers. Most Chief Operating Officers survey respondents are men (76 percent). The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$78,057 - $216,693|
|Bonus||$1,459 - $59,844|
|Profit Sharing||$1,521 - $30,201|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$81,939 - $258,764|
|Hourly Rate||$18.25 - $53.64|
|Bonus||$1,459 - $59,844|
|Profit Sharing||$1,521 - $30,201|
|Total Pay (||$81,939 - $258,764|
Job Description for Vice President, Chief Operating Officer (COO)
Most companies comprise a wide range of operating groups pursuing different organizational goals. The chief operating officer (COO) - who may also be a vice president - is a top-level executive who helps ensure the success of all of these operations. They perform a number of tasks such as making high-level business decisions, supervising groups of managers, and coordinating all of the organization's operations to maximize profitability. They also make presentations to employees, as well as to the chief executive officer and the organization's board. Chief operating officers typically work in a business setting during regular business hours, although overtime may be required for emerging issues and deadlines. They generally report to the chief executive officer.Read More...
The chief operating officer must be a hard-working, detail-oriented individual who has a thorough understanding of their company's goals. The chief operating officer must use all available resources to stay aware of all operations, so as to formulate and execute new strategies as needed. Excellent communications skills are vital, as is a willingness to be cooperative and collaborative; this helps establish relationships with the chief executive officers and the many employees under their supervision.
The minimum educational requirements for this position depending on the size of the company and the scope of the chief operating officer's responsibilities. A bachelor's degree in business, management, or a related field is sufficient for some operations; larger corporations generally expect a master's degree or more. Experience in the field is also required, preferably in a managerial role.
Vice President, Chief Operating Officer (COO) Tasks
- Execute operational strategies to deliver products or services and provide leadership and guidance.
- Manage overall budget and financial policies, and oversee specific reports and forecasts.
- Identify growth and market opportunities.
- Direct, coordinate and evaluate operational teams and product implementation.
Common Career Paths for Vice President, Chief Operating Officer (COO)
Vice President, Chief Operating Officer (COO) Job Listings
Popular Skills for Vice President, Chief Operating Officer (COO)
Chief Operating Officers report using a deep pool of skills on the job. Most notably, skills in Telecommunications, Operations Management, Strategic Planning, and Sales Management are correlated to pay that is above average. Those listing Microsoft Word as a skill should be prepared for drastically lower pay. Microsoft Excel and Microsoft Office also typically command lower compensation. Most people skilled in Operations Management are similarly competent in Microsoft Excel and Microsoft Office.
Pay by Experience Level for Vice President, Chief Operating Officer (COO)
Pay by Experience for a Vice President, Chief Operating Officer (COO) has a positive trend. An entry-level Vice President, Chief Operating Officer (COO) with less than 5 years of experience can expect to earn an average total compensation of $118,000 based on 54 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President, Chief Operating Officer (COO) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $128,000 based on 105 salaries. An experienced Vice President, Chief Operating Officer (COO) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $162,000 based on 182 salaries. A Vice President, Chief Operating Officer (COO) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $174,000 based on 146 salaries.
Pay Difference by Location
Minneapolis offers some of the highest pay in the country for Chief Operating Officers, 28 percent above the national average. Chief Operating Officers can also look forward to large paychecks in cities like San Francisco (+27 percent), Chicago (+24 percent), Philadelphia (+17 percent), and New York (+16 percent). Chief Operating Officers' salaries are heavily influenced by location — Chief Operating Officers in Houston bring in salaries that are 30 percent lower than the national average. Workers in Atlanta and San Antonio earn salaries that trail the national average for those in this profession (30 percent less and 21 percent less, respectively).
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Key Stats for Vice President, Chief Operating Officer (COO)
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