Vice President (VP) of Product Development Salary

In a profession for which the median take-home is approximately $159K, just over two-fifths of overall earnings for VPs of Product Development arrives through commissions. Total incomes of VPs of Product Development incorporate potential for, in a few cases, more than $59K from bonuses and close to $51K from profit sharing; these performance components cause packages to range between $98K and $251K. Location is the biggest factor affecting pay for this group, followed by career length. For the most part, VPs of Product Development enjoy their work and report high levels of job satisfaction. Generally, women make up less than a third of all VPs of Product Development who answered the questionnnaire. Nearly all report receiving medical coverage from their employers and most collect dental insurance. This snapshot results from replies to PayScale's salary survey.

$92,071 - $217,071
$92K
$150K
$220K
MEDIAN: $146,502
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$90K$180K$270K
Salary
$92,071 - $217,071  
   
Bonus
$4,973 - $58,685  
Profit Sharing
$1,007 - $50,684  
Commission
$70,000  
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).
)
$97,892 - $251,017  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 487

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United States (change)

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Job Description for Vice President (VP) of Product Development

Vice presidents (VPs) of product development are usually members of the upper-management team within an organization. This position is classified as a technology job and usually reports to the chief technology officer, the chief engineering officer, or another department leader. Vice presidents of product development usually have many employees who work under them and a group of managers who report in directly to them. Individuals in this position are responsible for managing all product development activities undertaken by the product development team. The objective of this position is to ensure that the product development team meets the needs of the organization and satisfies all customer requirements.

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Vice President (VP) of Product Development Tasks

  • Lead product development and production teams from initial inception to final product.
  • Guide product placement and pricing strategies.
  • Ensure that products meet the brand standards as well as consumer needs.
  • Conduct technical, competitive, and trend analysis to identify and evaluate potential products.

Common Career Paths for Vice President (VP) of Product Development


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A lot of VPs of Product Development move on to become Senior Vice Presidents of Product Development, that group gets paid a slightly higher $189K on average.

Vice President (VP) of Product Development Job Listings

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Popular Skills for Vice President (VP) of Product Development


VPs of Product Development seem to require a rather large skill set. Most notably, skills in Product Management, Business Development, Strategic Project Management, and Software Development are correlated to pay that is above average, with boosts between 6 percent and 12 percent. Skills that seem to negatively impact pay include Product Marketing, Data Modeling, and Media / Public Relations. It is often found that people who know Product Development are also skilled in Project Management and Business Development.

Pay by Experience Level for Vice President (VP) of Product Development

Pay by Experience for a Vice President (VP) of Product Development has a positive trend. An entry-level Vice President (VP) of Product Development with less than 5 years of experience can expect to earn an average total compensation of $119,000 based on 45 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP) of Product Development with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $139,000 based on 138 salaries. An experienced Vice President (VP) of Product Development which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $165,000 based on 246 salaries. A Vice President (VP) of Product Development with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $184,000 based on 163 salaries.

Pay Difference by Location

National Average: $158,995

Larger city markers indicate a job is popular in that location.

San Jose is home to an above-average pay rate for VPs of Product Development, 54 percent higher than the national average. VPs of Product Development can also look forward to large paychecks in cities like Atlanta (+30 percent), Seattle (+29 percent), Boston (+29 percent), and Salt Lake City (+13 percent). Compared to the national average, Portland VPs of Product Development have considerably lower salaries, 21 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Below-median salaries also turn up in Dallas and Chicago (18 percent lower and 13 percent lower, respectively).

Vice President (VP) of Product Development Reviews

Q: What is it like working as a Vice President (VP) of Product Development?

Vice President (VP) of Product Development in St. Augustine:
"Working In A Start-up Is Stressful."
Pros: Being able to be creative but in the context of a business environment.
Cons: A lot of stress in a start-up environment with little reward up front.

Related Job Salaries

Key Stats for Vice President (VP) of Product Development

Gender

Female
26 %
Male
74 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 57 votes.
Less than 1 year
1%
1-4 years
5%
5-9 years
18%
10-19 years
40%
20 years or more
36%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Vice President (VP) of Product Development Salaries

▲16%

▲3%

National Average
$159,000

▼12%

▼25%

Skills That Affect Vice President (VP) of Product Development Salaries




Software Development
▲5%

Software Architecture
▲1%


National Average
$159,000


People Management
▼5%


▼7%

Media / Public Relations
▼8%

Data Modeling
▼9%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 57 votes.

Gender

Female
26 %
Male
74 %

Years of Experience

Less than 1 year
1%
1-4 years
5%
5-9 years
18%
10-19 years
40%
20 years or more
36%

Common Health Benefits

medical benefits
Medical: 93%
dental benefits
Dental: 81%
vision benefits
Vision: 67%
no benefits
None: 5%
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