How much does the top Executive VP salary make? Let’s find out in this section and we will also have a comparison from the other Executive positions in a company.
Introduction about the Top Executive VP Salary
Executive Vice President (EVP) is the second-highest position in the company, behind the CEO or Chairman of the Board. The EVP usually reports directly to the CEO and has a high level of authority.
The EVP is responsible for supervising all employees in his/her division. He/She is also responsible for managing the budget and making sure that the division’s objectives are met.
An EVP may also be referred to as an Executive Vice President, Executive Vice President of Operations, Chief Operating Officer (COO), Chief Administration Officer (CAO), Chief Financial Officer (CFO), Chief Strategy Officer (CSO), or Chief Information Officer (CIO).
An EVP may have any of the following titles:
- Executive VP,
- Executive Vice President,
- EVP Operations,
- EVP Operations & Administration,
How Much Does the Top Executive Vp Salary Make?
The Executive Vice President’s salary is $187,245 per year or $86.85 per hour.
- Hourly EVP Salary
The Executive Vice President’s hourly wage is between $53.88 and $164.44 an hour.
- Annual EVP Salary
The Executive Vice President’s annual salary is between $96,000 and $16,640,000 a year.
Is the EVP Salary Increasing?
The Executive Vice President salary has seen a 4% increase over the past 5 years. The Salary Rank for the EVP position has remained constant at #28 out of 100 for the past three years. The average salary for an EVP has increased by approximately 65% over the last 7 years, while the percentile rank has decreased by 6%. Overall, the pay for this position has increased during that period.
Salary Ranking versus Job Openings versus Employed versus Average Annual Wage versus Median Annual Wage
How Does the EVP Salary Compare to Job Openings?
Let’s take a look at job openings for Executive Vice Presidents versus salaries paid to people in those jobs.
The average base pay for an open EVP position is currently $109,619 while the median annual base pay for an open EVP position is currently $160,000. This means that 50% of all open Executive Vice President positions have a salary less than $160,000 with only 25% earning more than $160,000 annually.
Overall there are currently 402 job openings for Executive Vice Presidents with an average salary of $121,750 and a median annual salary of $158,500. All of these statistics are based on non-seasonal data and were calculated on May 29th, 2013 with data collected from Indeed members over the past 4 months (1/29/2013-5/29/2013).
Job postings are increasing around 7% year over year while salaries are increasing approximately 5%. Currently, we can see that there is a large variation in salaries that employers are willing to pay for this position compared to job postings which probably reflects how difficult it may be to find qualified candidates willing to work at these companies.
The highest paying states for Executive Vice Presidents are California ($312,000), New York ($290,000), Texas ($265,000), Illinois ($245,000), and Ohio ($241,250). These numbers are based on median annual salaries and were calculated on May 29th, 2013. The states with the lowest paying jobs for an EVP are Maine ($116,250), Virginia ($124,250), Kentucky ($128,500), Iowa ($135,500) and Nebraska ($141,500).