Vice President (VP), Product Management Salary
VPs of Product Management in the United States pull down an average of $167K annually. Total cash compensation to VPs of Product Management bottoms out near $120K and approaches $242K on the high end; the biggest paychecks include approximately $50K from bonuses and almost $30K from profit sharing. Location is the biggest factor affecting pay for this group, followed by tenure. Male VPs of Product Management are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$107,341 - $207,737|
|Bonus||$10,106 - $49,892|
|Profit Sharing||$2,013 - $29,799|
|Total Pay (||$120,251 - $242,331|
Job Description for Vice President (VP), Product Management
The vice president of product management is typically a member of the organization's management team who manages the product development team. Their main objective is to work with project and product managers to ensure products meet the need of the organization's customers. The vice president of product management is responsible for developing project plans, creating master project schedules, scheduling the product delivery process and milestones, assisting the product development team with any development issues, and ensuring release schedules are met. Additionally the vice president of product management is responsible for creating quality control plans.Read More...
The vice president of product management is responsible for delegating a majority of the product development tasks to the proper teams and workers. Vice presidents of product management work with engineers, developers, architects, administrative assistants, and program managers, among others. This position is typically full time and takes place in an office setting. Vice presidents of product management may report to the chief technology officer (CTO) or the chief engineering officer (CEO), and they usually have many employees who directly report to them.
A vice president of product management job typically requires a bachelor's or master's degree in computer science, engineering, or another related field. A minimum of 15 years of computer software product development and previous management experience are generally required as well. Depending on the type of products produced by the company, additional technical knowledge or certifications may be needed as well. Additionally, a vice president of product management must possess strong oral and written communication skills, excellent interpersonal skills, and a creative mindset.
Vice President (VP), Product Management Tasks
- Manage product lifecycle for a portfolio of projects.
- Research and respond to market trends.
- Train and support new products and their sales and manufacturing teams.
- Track and report on risks, product evaluations and strategy decisions.
- Lead design and testing of new products, determining which projects should continue.
Vice President (VP), Product Management Job Listings
Popular Skills for Vice President (VP), Product Management
VPs of Product Management report using a deep pool of skills on the job. Most notably, skills in Leadership, Strategy, Strategic Planning, and Product Marketing are correlated to pay that is above average, with boosts in pay of 6 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Market Research and Business Strategy also typically command lower compensation. For most people, competency in Product Development indicates knowledge of Product Marketing and Project Management.
Pay by Experience Level for Vice President (VP), Product Management
Pay by Experience for a Vice President (VP), Product Management has a positive trend. An entry-level Vice President (VP), Product Management with less than 5 years of experience can expect to earn an average total compensation of $127,000 based on 46 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Product Management with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $161,000 based on 119 salaries. An experienced Vice President (VP), Product Management which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $192,000 based on 367 salaries. A Vice President (VP), Product Management with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $211,000 based on 150 salaries.
Pay Difference by Location
California cities Palo Alto, Mountain View, and San Jose are lucrative areas for VPs of Product Management, where pay is not only higher than the national average but also represents the three highest-paid areas in the country. Location significantly influences compensation, with Austin VPs of Product Management earning much less — 25 percent less — than the national average. Employers pay around 12 percent less in New York and 9 percent less in Chicago, below-median salaries for those in this field.
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Key Stats for Vice President (VP), Product Management
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