Vice President (VP), General Manager Salary
A Vice President (VP), General Manager earns an average salary of $129,804 per year. Skills that are associated with high pay for this job are Business Strategy, Product Development, Profit & Loss (P&L) Statements, Strategic Marketing, and Leadership. Most people in this job have more than five years' experience in related jobs.
Job Description for Vice President (VP), General Manager
Vice presidents/GMs are tasked with short- and long-term strategic planning and developing and implementing policies and procedures, as well as overseeing training programs for subordinate employees and ensuring that training objectives are met. Their role is to increase the value of employee output and maximize the company's profitability through high standards and clear goals. Inter-level and inter-departmental communication is important to establish these goals, so superior written and verbal communication skills are essential in this position.Read More...
Reviews, evaluation, and setting financial goals go hand-in-hand with creating and evaluating profit and loss statements, all of which measure the effectiveness of policies and procedures implemented under the VP's responsibility. They are also tasked with finding cost-saving measures within profit and loss statements; when identifying trends within the company, it is also important to understand, review, and stay updated with the trends and movements within the general market, including the competition and public information.
Vice presidents of companies must stay up-to-date with all applicable local, state, and federal regulations; establishing, negotiating, and reviewing contracts is also part of the job. Building rapport with employees and subcontractors is important for the growth of the company, so a set of guidelines must be established for subordinates to follow when communicating with subcontractors and employees in other departments. A college degree and prior experience in upper-level management are generally required for this position.
Vice President (VP), General Manager Tasks
- Plan, direct, and coordinate operational activities at the highest level of management with the help of subordinate managers.
- Determine and formulate policies and business strategies and provide overall direction of an organization.
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