Vice President (VP), Product Management Salary
VPs of Product Management in the United States pull down an average of $162K annually. Total cash compensation for VPs of Product Management runs from $120K to $240K depending on bonuses that can occasionally exceed $50K and profit sharing that can reach almost $25K. Location is the biggest factor affecting pay for this group, followed by career duration. Medical benefits are awarded to nearly all, and most earn dental coverage. 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. For the most part, VPs of Product Management enjoy their work and report high levels of job satisfaction. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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
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Popular Skills for Vice President (VP), Product Management
VPs of Product Management seem to exploit a large range of skills on the job. Most notably, skills in Leadership, Strategy, Product Management, and Strategic Planning are correlated to pay that is above average, with boosts between 5 percent and 7 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Market Research and Production Management also typically command lower compensation. Those proficient in Product Development are, more often than not, also skilled in Product Marketing and Project Management.
Pay by Experience Level for Vice President (VP), Product Management
Median of all compensation (including tips, bonus, and overtime) by years of experience.
VPs of Product Management who reported more years of relevant experience also reported higher earnings. Individuals who have worked for fewer than five years report earning $120K on average, a generous six-figure sum for those just starting out. On average, VPs of Product Management make $192K following one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $204K, but it's not much more than what less experienced people make.
Pay Difference by Location
For VPs of Product Management, busy Mountain View offers a higher-than-average pay rate, 24 percent above the national average. VPs of Product Management can also look forward to large paychecks in cities like Seattle (+17 percent), Denver (+13 percent), Dallas (+10 percent), and Los Angeles (+10 percent). VPs of Product Management' salaries are heavily influenced by location — VPs of Product Management in Salt Lake City bring in salaries that are 22 percent lower than the national average. Workers in Austin and Charlotte earn salaries that trail the national average for those in this profession (16 percent less and 13 percent less, respectively).