VP Product Development Salary

One of the positions that have a competitive salary is VP product development. So let us know how much they earn, their role, and their responsibilities in the company.

Introduction

As VP of product development, you’ve got a lot on your plate. This role is involved in the overall product life cycle and helps. To manage the product development team and help. Also, to develop and launch new products.

Roles and Responsibilities:

• You will need to create and maintain a plan for future projects and new products.
• You will need to coordinate with different teams. Such as engineering, marketing, finance, and customer support to come up with the best possible products for the company.
• Work on products that are already in production by teaming with various departments. Such as marketing, finance, and engineering.
• Managing the product development team is another role of the VP of product development.
• You will need to make sure that each member of the team has the best possible position, and you will need to provide them with all the necessary resources.
• You will also need to make sure that they are working together and collaborating with other departments.

Requirements:

Ideally, you should have at least 10 years of experience in this field. Along with a bachelor’s degree in computer science or a related subject.

You should have prior experience in the area of technology operations or program management. In regards to education, a master’s degree in business administration can be beneficial. But it is not required.

For the salary, it comes in by different factors. Such as company size, their level and experience, and educational attainment. So let’s discuss each in detail.

Company Size

The range of salary for this positionof VP product development is $120,000 to $170,000. The larger the company, the more you will be paid. This is because the larger companies have more resources available to them. Which means that they can pay their employees more.

Level of Experience

The level of experience has a lot to do with how much you are paid. The more experience you have in this position, the more likely they are going to pay you more.

Depending on your level of experience, it can go from $90,000-$130,000 per year. But if you have over 10 years of experience in this field, you can expect to make an average salary of $150,000 annually.

Educational Attainment

While it is not necessary, having a master’s degree in business administration can earn you an additional $5,000 each year. If you are wondering what type of degree to get when looking for a product development career.

A master’s in business administration degree is a good option for this position. As it will give you a better understanding of business operations and strategy.

Which can help when developing products for businesses or corporations.

Conclusion

To wrap up the article, I would like to give you a piece of advice. While these positions can earn you a high salary, it is not easy job.

You will have to work hard, have a lot of patience and be able to deal with different people each day.