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Vice President (VP) of Product Development Salary

Six-figure salaries are the norm for VPs of Product Development in the United States, with median pay hovering around $146K per year. With some bonuses approaching $50K and certain profit sharing proceeds approaching $29K, overall incomes of VPs of Product Development spread between $94K and $230K depending on individual performance. Location and tenure each impact pay for this group, with the former having the largest influence. The majority of workers are highly satisfied with their job. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to the greater part. Male VPs of Product Development are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$90,218 - $196,095
(Median)
$90K
$150K
$200K
MEDIAN: $146,116
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$80K$160K$240K
Salary
$90,218 - $196,095  
   
Bonus
$2,483 - $49,520  
Profit Sharing
$2,469 - $29,154  
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).
)
$93,630 - $229,940  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 599

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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

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

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


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Moving into a Senior Vice President of Product Development position seems to be a popular career progression. Median pay for this job is $188K annually.

Vice President (VP) of Product Development Job Listings

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Popular Skills for Vice President (VP) of Product Development


Survey results suggest that VPs of Product Development put a wide range of professional skills to use. Most notably, skills in Strategic Project Management, Product Development, Data Analysis, and Presentation are correlated to pay that is above average. Skills that seem to negatively impact pay include Data Modeling, Media / Public Relations, and Project Management. The majority of those who know Product Development also know Business Development and Project Management.

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

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Professionals with less than five years' experience earn a median of $93K annually, but folks with five to 10 years under their belts report a weighty six-figure median of $140K. VPs of Product Development bring in $163K after working for 10 to 20 years. VPs of Product Development who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $177K.

Pay Difference by Location


Surpassing the national average by 52 percent, VPs of Product Development in San Jose receive some of the highest pay in the country. VPs of Product Development will also find cushy salaries in Chicago (+20 percent), San Francisco (+13 percent), New York (+13 percent), and Minneapolis (+10 percent). Falling short of the national average by 10 percent, the area with the worst salaries is Los Angeles. Not at the bottom but still paying below the median are employers in Dallas and Salt Lake City (6 percent less).

Vice President (VP) of Product Development Advice

What do you wish you knew about your job when you first started out?

Vice President (VP) of Product Development in Miami:
Understand your customers, the political dynamics of your company, and your boss' expectations of you in the role. Now do twice as much as they told you they expected in half the time and without the resources.

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

United States (change)

Experience Affects Vice President (VP) of Product Development Salaries



National Average
$160,000


Entry-Level
up arrow 42%

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


Product Development
up arrow 4%

Data Analysis
up arrow 1%

Presentation
up arrow 1%

National Average
$160,000

Business Development
up arrow 2%

Product Marketing
up arrow 4%


Media / Public Relations
up arrow 9%

Data Modeling
up arrow 10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 132 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

1-4 years
4%
5-9 years
12%
10-19 years
53%
20 years or more
31%

Common Health Benefits

medical benefits Medical: 92% dental benefits Dental: 80%
vision benefits Vision: 65% employee benefits None: 7%