Vice President (VP), Research & Development Salary
Compensation for VPs of Research & Development in the United States is generous, with average pay surpassing six figures annually ($158K). Cash earnings for VPs of Research & Development — which occasionally include more than $78K from bonuses and more than $44K from profit sharing — stretch from around $102K to approximately $290K. Experience level is the biggest factor affecting pay for this group, followed by geography. Male VPs of Research & Development are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Most VPs of Research & Development like their work and job satisfaction is high. Medical benefits are awarded to nearly all, and most earn dental coverage. The data for this snapshot was collected from individuals who took PayScale's salary survey.
|Salary||$96,429 - $243,496|
|Bonus||$7,603 - $78,044|
|Profit Sharing||$-0.50 - $44,385|
|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).)
|$101,909 - $290,351|
Job Description for Vice President (VP), Research & Development
A vice president (VP) of research and development (R&D) is an executive who oversees and supervises all development and innovation efforts by a company. They work to recruit product development team leaders to handle these efforts and directs R&D teams with budget approvals, scheduling, and deadline management. The VP also works with other teams within the company — such as sales, marketing, engineering, and manufacturing — to bring new products from the research and development side to market or implementation within the organization.Read More...
Usually a board-level executive, the VP of R&D typically spends much of their time directing R&D teams rather than performing hands-on supervision. The VP usually receives progress reports and conducts regular meetings with team leaders at a middle-management level. They assess the efforts of R&D teams, adjust scheduling and personnel, and help steer research efforts. The VP helps create an environment that fosters innovation in developing new products, creating improvements on existing products or services, or even developing new processes and technology for the organization to improve efficiency.
As an upper-level executive within a company, a vice president for research and development typically needs at least a bachelor's degree in some scientific, business, or engineering discipline, with many companies preferring individuals with master's degrees in business administration. The VP typically works within his or her own office and has an administrative staff he or she directly supervises. As a supervisor of a department that may consist of many teams, the VP of R&D should expect that travel will be a regular part of his or her job as well.
Vice President (VP), Research & Development Tasks
- Develop and direct the design and development of new products and the improvement of existing products.
- Work with members of the senior management team to further department and company goals.
- Provide leadership and develop objectives for the Research and Development (R&D) department.
- Obtain funding for existing and future Research and Development (R&D) projects.
Vice President (VP), Research & Development Job Listings
Popular Skills for Vice President (VP), Research & Development
VPs of Research & Development note just a narrow range of job skills. Most notably, skills in Product Development, People Management, Project Management, and Strategic Planning are correlated to pay that is above average. Skills that seem to negatively impact pay include Strategic Planning, Project Management, and People Management. Those proficient in Product Development are, more often than not, also skilled in People Management.
Pay by Experience Level for Vice President (VP), Research & Development
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of VPs of Research & Development. Even the relatively untested can earn a lot; individuals who have been working for fewer than five years report a median six-figure salary of $104K per year. VPs of Research & Development claiming one to two decades of experience make an estimated median of $177K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $196K on average.
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Key Stats for Vice President (VP), Research & Development
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