Vice President (VP), Research & Development Salary
VPs of Research & Development in the United States can expect wages of $164K annually on average. Total cash earnings of VPs of Research & Development range from $103K on the low end to $284K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $77K and $44K, respectively. Career length is the biggest factor affecting pay for this group, followed by geography. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. 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. The majority of workers are highly satisfied with their job. This report is based on answers to PayScale's salary questionnaire.
|Salary||$98,413 - $242,850|
|Bonus||$7,450 - $76,522|
|Profit Sharing||$-0.50 - $44,385|
|Total Pay (||$103,066 - $284,108|
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
- 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.
- 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.
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 seem to negatively impact pay include Strategic Planning, Project Management, and People Management. Those familiar with Product Development also tend to 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.
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Key Stats for Vice President (VP), Research & Development
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