$150,745
Avg. Salary
$67.50
Avg. Hourly Rate

Average additional compensation for this job:

Bonus

$26,981

Profit Sharing

$19,000

Commission

$60,000

The average pay for a Vice President (VP) Of Product Development is $67.50 per hour.

The average pay for a Vice President (VP) Of Product Development is $150,745 per year.

$0
10%
$68
50%
$0
90%
MEDIAN $68
$95k
10%
$151k
50%
$221k
90%
MEDIAN $150,745
$94,533 - $220,898
$95K
$150K
$220K
MEDIAN: $150,745
10%
50%
90%

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$0$260K
Salary $94,533 - $220,898
Bonus $5,171 - $67,102
Profit Sharing $2,475 - $70,469
Commission $60,000
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).
)
$98,747 - $260,738
  • Country: United States
  • Currency: USD
  • Updated: 15 Oct 2018
  • Individuals Reporting: 972

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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VPs of Product Development often end up in upper-level roles like Senior Vice President of Product Development. Senior Vice Presidents of Product Development bring home $189K annually on average.

Vice President (VP) of Product Development Job Listings

Popular Skills for Vice President (VP) of Product Development


VPs of Product Development report using a large range of skills on the job. 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 are correlated to lower pay, on the other hand, include Product Marketing, Data Modeling, and Media / Public Relations. For most people, competency in Product Development indicates knowledge of 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

24%

23%

23%

-17%

National Average: $166,933

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

Home to some of the best pay for VPs of Product Development, San Jose offers exceptional salaries, 54 percent above 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). One of the biggest compensable factors for VPs of Product Development is geography, with workers in Portland earning a whopping 21 percent below the national average. A couple other locations with smaller-than-average paychecks include Dallas (18 percent lower) and Chicago (12 percent lower).

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 Emeryville:
"Bio tech center."
Pros: It is aneasy commute. Other than that, no redeeming features.
Cons: Not very interesting, no place to walk at lunch, not many trestaurants.

Vice President (VP) of Product Development in Hartford:
"Opportunities where you least expect it."
I didnt begin my career thinking wow wouldnt it be great to work for a large insurance company. I was an advocate for the environment- a highly educated tree hugger... I emersed myself in plethera of subjects literature, biology, psychology, computer sience, geology and a passion for fine arts. I graduated faced harsh realities of an economic bubble burst and couldnt find a job in my desired field. Out of desperate measures I found myself as a commercial liability claims adjuster, there are ties to law- contract review, litigation, sitting in the judges chambers and found it rewarding for a time. Entrance into the insurance industry lead to additional opportunities exploring: risk selection, sales & marketing, managing people relating to mentors and recognizing leaders that were not to be emulated. I found ways to take intrinsic traits and versatile knowledge and build a self-fulfilling career in a field that I thought as stuffy, 'corporate', behind the facade found laughter and fun.

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.

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 135 votes.
Less than 1 year
0%
1-4 years
4%
5-9 years
15%
10-19 years
44%
20 years or more
36%

Experience Affects Vice President (VP) of Product Development Salaries

▲10%

National Average
$167,000

▼1%

▼17%

▼29%

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




Software Development
▼0%

National Average
$167,000

Software Architecture
▼4%


People Management
▼9%


▼11%

▼11%

Media / Public Relations
▼12%

Data Modeling
▼14%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 135 votes.

Gender

Female
26 %
Male
74 %

Years of Experience

Less than 1 year
0%
1-4 years
4%
5-9 years
15%
10-19 years
44%
20 years or more
36%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 81%
vision benefits
Vision: 71%
no benefits
None: 7%