A big portion of take-home pay for VPs of Product Development — slightly less than three-fifths, in fact — arrives through commissions. This profession's median overall income is approximately $156K. Overall cash earnings for VPs of Product Development stretch from $96K on the lower end to $244K near the top, and the heftiest packages can encompass around $53K from bonuses and $63K from profit sharing. Location and career duration each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most VPs of Product Development. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to more than half. Most VPs of Product Development survey respondents are men (75 percent). The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$90,892 - $206,530
(Median)
$91K
$140K
$210K
MEDIAN: $144,449
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
$90,892 - $206,530  
   
Bonus
$5,034 - $52,765  
Profit Sharing
$1,007 - $62,662  
Commission
$88,437  
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).
)
$96,371 - $243,504  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 458
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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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While not commonly seen, VPs of Product Development who transition into a Senior Vice President of Product Development position may see a rise in pay. The median salary for Senior Vice Presidents of Product Development is $188K per year.

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, Strategic Project Management, Business Development, and Product Development are correlated to pay that is above average. Skills that pay less than market rate include Presentation, Product Marketing, and Data Analysis. Those familiar with Product Development also tend to know Project Management and Business Development.

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 is an important factor influencing the compensation of VPs of Product Development. Six-figure salaries are not unusual for those just entering the occupation — survey respondents with less than five years' experience under their belts report receiving an average of $115K per year. People with 10 to 20 years of experience make an average of about $162K in this role. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $188K.

Pay Difference by Location

National Average: $156,212

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, 56 percent higher than the national average. VPs of Product Development will also find cushy salaries in Seattle (+39 percent), Atlanta (+31 percent), Boston (+20 percent), and San Francisco (+12 percent). Portland is the lowest-paying area, 19 percent south of the national average. Employers also pay below the national average in Dallas (17 percent lower) and Denver (13 percent lower).

Vice President (VP) of Product Development Reviews

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

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Experience Affects Vice President (VP) of Product Development Salaries



National Average
$156,000



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


Strategic Project Management
up arrow 4%

Business Development
0%

National Average
$156,000

Product Development
up arrow 1%

People Management
up arrow 2%


Media / Public Relations
up arrow 6%

Data Modeling
up arrow 8%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 55 votes.

Gender

Female
25 %
Male
75 %

Years of Experience

Less than 1 year
0%
1-4 years
5%
5-9 years
17%
10-19 years
42%
20 years or more
36%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 82%
medical benefits
Vision: 66%
dental benefits
None: 6%
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