What is a Vice President?
A vice president, also called “number two” or “second in command”, is an officer in a company who manages the day-to-day operations of the business.
A vice president can be a member of the board of directors or a member of senior management depending on their position and the size and location of the company.
The responsibilities and duties will vary depending on their seniority but they usually include overseeing all operations, coordinating with other departments to fulfill company goals, improving performance, implementing improvements in processes and systems, hiring new employees to add staff when needed, managing budgets for specific departments when requested by management.
In some companies, a vice president may also oversee departments outside of their immediate chain of command.
The vice president usually reports to the President and/or CEO and is considered a leader by being a visible member of the board of directors or committee members.
What is a Vice President’s Job Description?
Answering questions on what a vice president really does can be tricky as each company has its own set of rules and regulations for hiring, assigning responsibilities, etc.
In general, it involves being responsible for all administrative duties within the organization as directed by the president or CEO.
In this role they are responsible for managing projects, coordinating teamwork to accomplish goals, improving performance and providing leadership when needed.
A vice president’s salary will vary depending on their position and the size of the company.
What is the salary range for a Vice President?
vice president salary vary depending on both title and their employer.
The salary range for a Vice President with two years of management experience is typically between $145,000 to $175,000.
It can actually be as low as $125,000 based on the size of the company you work for or have worked for previously.
How Much Money Do Vice Presidents Make?
The median annual salary of a U.S. Vice President was $228,000 in 2016. The median income in 2017 for all Vice Presidents was $139,960.
The mean income for U.S. Vice Presidents in 2017 was $273,452. This is half of the top wage grade in the United States among men and almost 60% higher than for men in general with no college degree who are working full time year round at this job level (the mean earnings of these men is $86,754 per year).
It is worth noting that overall the plurality of all executive jobs in the U.S. are occupied by women. On average, women earn $17,664 less than men in these jobs.
The income drop off compared to all U.S. occupations in general is $77,880 per year, which is about 46% of the average salary for all jobs in this country (note that the salary rate listed above applies to full time workers who are working for an employer who hires them to continuously work at that position).
What is the eligibility criteria for a Vice President ?
Education for this job typically includes at least a bachelor’s degree in an area related to their position, e.g. business management, marketing, law, etc.
Some employers may prefer applicants with advanced degrees. The minimum credential requirement can vary greatly based on the industry of employment and the employer’s needs due to the complexity of the job duties.
What are the responsibilities of a Vice President ?
A vice president’s responsibilities will vary based on the company’s needs and the position itself. The duties of a vice president are not limited to administration alone.
A vice president is often responsible for taking part in projects, resolving conflicts between departments, writing reports for management, presenting ideas to other managers, recruiting new talent or hiring other employees to take on new tasks when needed or requested by management.
It isn’t uncommon for a Vice President to start their own projects as well.
If they are assigned to manage other departments it may include briefing managers about their input into the department’s goals and other tasks that they have taken on within that department or coordinating with staff members.
How do I become a Vice President?
As with many positions within the management world, there are many different ways to become a vice president. Some of the most common ways include passing away through promotion or by being hired internally by management.
You can also rise to this role through one of two paths. The first is if you are an experienced manager who has moved up within the company, then you may be considered for this role.
Another way is if after several years of experience or several years in your current position, you may be considered for the title of Vice President with no prior management experience.
