Vice President (VP) of Product Development Salary

VPs of Product Development in the United States can look forward to a sizeable six-figure salary — around $146K per year on average. In the world of VPs of Product Development, total cash compensation can vary between $95K and $231K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $50K and $30K, respectively. Location is the biggest factor affecting pay for this group, followed by experience level. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to nearly all, and most earn dental coverage. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$89,875 - $196,289
(Median)
$90K
$150K
$200K
MEDIAN: $146,018
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
$89,875 - $196,289  
   
Bonus
$2,479 - $49,566  
Profit Sharing
$2,530 - $29,590  
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).
)
$94,835 - $230,520  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 598
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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.

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 use a fairly large toolkit of professional skills. Most notably, facility with Product Management, Strategic Project Management, and Product Development are correlated to pay that is significantly above average, leading to increases of 23 percent, 6 percent, and 4 percent, respectively. Skills that seem to negatively impact pay include Data Modeling, Media / Public Relations, and Project Management. Most people 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.


For many VPs of Product Development, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Salaries can reach six figures almost right off the bat; beginning workers who have less than five years' experience bring in a median of $101K per year. VPs of Product Development claiming one to two decades of experience make an estimated median of $163K. 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 $179K.

Pay Difference by Location


With a pay rate for VPs of Product Development that is 52 percent greater than the national average, San Jose offers a comfortable salary for those in this profession. VPs of Product Development can also look forward to large paychecks in cities like Chicago (+20 percent), New York (+16 percent), San Francisco (+10 percent), and Minneapolis (+7 percent). VPs of Product Development' salaries are heavily influenced by location — VPs of Product Development in Denver bring in salaries that are 24 percent lower than the national average. Employers also pay below the national average in Dallas (13 percent lower) and Los Angeles (10 percent lower).

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

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Experience Affects Vice President (VP) of Product Development Salaries



National Average
$161,000


Entry-Level
up arrow 37%

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

Product Management
up arrow 23%


Product Development
up arrow 4%

National Average
$161,000

Presentation
up arrow 1%

Business Development
up arrow 2%

Data Analysis
up arrow 4%

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 122 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

1-4 years
3%
5-9 years
12%
10-19 years
52%
20 years or more
33%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 82%
vision benefits Vision: 65% employee benefits None: 6%
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