Vice President (VP), Research & Development Salary
VPs of Research & Development in the United States see excellent average salaries — about $161K annually. With some bonuses approaching $80K and certain profit sharing proceeds approaching $45K, overall incomes of VPs of Research & Development spread between $103K and $285K depending on individual performance. Career length and the particular city each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to almost all, and a large number earn dental coverage. Most workers in this position report high levels of job satisfaction. Most VPs of Research & Development survey respondents are men (75 percent). The information for this snapshot was generated by responses to the PayScale salary survey.
|Salary||$98,916 - $240,699|
|Bonus||$7,272 - $79,578|
|Profit Sharing||$0.00 - $45,000|
|Total Pay (||$102,804 - $284,933|
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. (Copyright 2017 PayScale.com)
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 report a focused set 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 are correlated to lower pay, on the other hand, include Strategic Planning, Project Management, and People Management. Most people familiar with Product Development also know People Management.
Pay by Experience Level for Vice President (VP), Research & Development
Pay by Experience for a Vice President (VP), Research & Development has a positive trend. An entry-level Vice President (VP), Research & Development with less than 5 years of experience can expect to earn an average total compensation of $105,000 based on 13 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Research & Development with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $155,000 based on 26 salaries. An experienced Vice President (VP), Research & Development which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $180,000 based on 99 salaries. A Vice President (VP), Research & Development with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $198,000 based on 84 salaries.
Related Job Salaries
Key Stats for Vice President (VP), Research & Development
Rated 5 out of 5
based on 22 votes.