In this article, learn more about how much a VP makes. We will focus on the U.S. Just continue reading to have more ideas. Let’s get started.
Compared to other business positions, the VP is always given a large amount of money. It is because the position has its authoritative power, so it is not surprising that the salary given to the person should be higher than other positions.
How Much a VP Makes in the U.S.?
According to a survey that was conducted by BizJournals, the information stated that a Vice President’s salary is around $180,000 and up to $270,000. This sounds great, right? Let’s take a look at other sources of information.
Bureau of Labor Statistics
According to the Bureau of Labor Statistics, a VP in the U.S. can earn more than $165,000 annually.
According to Salary.com, it is stated that a Vice President can earn around $170,000 annually. This is not surprising because the budget of the company will depend on its revenue and profits.
Factors Affecting the Salary of a VP
If you want to know how much a VP makes, then you should also consider the different factors that affect the salary of the VP. It can be evaluated by looking at the different aspects of the organization. To clearly explain this, let’s learn about the aspects in detail.
The General Industry Trend
If the company is in a general industry trend, then it means that the company is doing well and its products or services are popular. In this case, it is not surprising if the salary of a VP will be higher than usual. The company will surely give more money to its vice president because they are satisfied with his/her work.
The Size of the Organization
If you have a small business, you can expect that you do not get much income as a VP. On the other hand, if your business is increasing sales and profits, then it means that your earning will be higher too. This is why it is important to take note of how big your company is. Just remember that larger companies usually pay more than smaller organizations.
If you are located in different states or countries, then it means that your salary will differ from one location to another. The reason for this is that each state has its own unique rules and policies regarding salaries. For example, California has some of the most expensive salaries for VPs in the U.S., but on the other hand, Vermont has one of the lowest salaries for VPs in the U.S.
Now that you know how much a VP makes, you should be able to estimate how much he/she earns every month or annually. Just remember that there are lots of factors affecting how much a VP makes and they will also affect your earning as well. Always keep these things in mind if you want to know how much a VP makes!