Vice President (VP) of Product Development Salary

Commissions comprise a big part of overall income for VPs of Product Development. The median take-home amount in this area is around $163K, and on average, a little over a half of that final number comes from commissions. Total cash compensation to VPs of Product Development approaches anywhere from $93K on the lower end to $246K on the higher end; in exceptional cases, this can include more than $54K from bonuses and upwards of $41K from profit sharing. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Male VPs of Product Development far outnumber their female contemporaries among those who completed the questionnaire. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to more than half. The majority of VPs of Product Development claim high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$88,518 - $201,815
(Median)
$89K
$150K
$200K
MEDIAN: $147,593
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
$88,518 - $201,815  
   
Bonus
$4,865 - $53,599  
Profit Sharing
$2,909 - $41,459  
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).
)
$93,294 - $245,610  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 670
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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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Although some VPs of Product Development become Senior Vice President of Product Development, this progression is not the norm. However, the latter position does pay a little more at $191K.

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 report using a diverse set of skills on the job. Most notably, skills in Product Management, Strategic Project Management, Product Development, and Presentation are correlated to pay that is above average, with boosts between 4 percent and 19 percent. Skills that pay less than market rate include Data Modeling, Media / Public Relations, and Data Analysis. 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.


VPs of Product Development with a rich background of experience are typically rewarded with larger paychecks. The average beginner in this position makes around $108K, but folks who have been around for five to 10 years see a markedly higher median salary of $136K. VPs of Product Development see a median salary of $164K after reaching one to two decades on the job. 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: $163,380

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

Surpassing the national average by 49 percent, VPs of Product Development in San Jose receive some of the highest pay in the country. VPs of Product Development can also look forward to large paychecks in cities like Chicago (+18 percent), New York (+18 percent), Boston (+15 percent), and Atlanta (+9 percent). Location is a huge contributor to overall pay, with VPs of Product Development in Denver earning a whopping 25 percent below the national average. Below-median salaries also turn up in Hartford and San Diego (11 percent lower and 7 percent lower, respectively).

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
$163,000


Entry-Level
up arrow 34%

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

Product Management
up arrow 19%


Product Development
up arrow 4%

National Average
$163,000

Business Development
up arrow 1%

Presentation
up arrow 1%

Project Management
up arrow 3%

Product Marketing
up arrow 4%


Media / Public Relations
up arrow 10%

Data Modeling
up arrow 12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 128 votes.

Gender

Female
18 %
Male
82 %

Years of Experience

1-4 years
4%
5-9 years
13%
10-19 years
51%
20 years or more
33%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 80%
medical benefits
Vision: 63%
dental benefits
None: 7%
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