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Senior vice president hiring summary. Here are some key points about hiring senior vice presidents in the United States:
Here's a step-by-step senior vice president hiring guide:
A Senior Vice President's responsibilities vary according to the company or organization. Still, it mostly revolves around overseeing and leading a particular department's activities and operations, reporting to the president and the board, evaluating the progress and performances of teams and employees, and maintaining constant communication with staff and management. Furthermore, A Senior Vice President is also involved in forming strategies that would benefit the sales of the company, seek innovative options, review documents, and ensure that the operations are up to the standards of the company's policies and regulations.
The senior vice president hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
A senior vice president's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior vice presidents from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of senior vice presidents.
| Type of Senior Vice President | Description | Hourly rate |
|---|---|---|
| Senior Vice President | Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations. | $60-145 |
| Managing Director | A Managing Director oversees workflow and progress, making sure that all operations align within the company or organization's mission or set of goals. They are responsible for crafting strategies, devising effective business plans, and executing guidelines that would nurture a company's growth, and as well as to be the driving force that would direct employees to the company's objectives... Show more | $34-112 |
| Chief Operating Officer | A chief operating officer, also known as a COO, is a high-ranking official who oversees a company or organization's daily administrative and overall operations. They are typically the second in the chain of command, reporting directly to the company's chief executive officer, also known as a CEO... Show more | $38-110 |
Including a salary range in your senior vice president job description is one of the best ways to attract top talent. A senior vice president can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Washington | $262,292 | $126 |
| 2 | California | $231,529 | $111 |
| 3 | Nevada | $229,310 | $110 |
| 4 | Oregon | $223,959 | $108 |
| 5 | Colorado | $222,589 | $107 |
| 6 | Minnesota | $213,442 | $103 |
| 7 | Illinois | $212,944 | $102 |
| 8 | Pennsylvania | $212,006 | $102 |
| 9 | Connecticut | $207,339 | $100 |
| 10 | New York | $203,241 | $98 |
| 11 | District of Columbia | $199,635 | $96 |
| 12 | Texas | $198,839 | $96 |
| 13 | New Jersey | $196,515 | $94 |
| 14 | Massachusetts | $193,880 | $93 |
| 15 | Virginia | $193,168 | $93 |
| 16 | Georgia | $190,407 | $92 |
| 17 | Ohio | $185,399 | $89 |
| 18 | Arizona | $181,590 | $87 |
| 19 | Delaware | $179,509 | $86 |
| 20 | Utah | $175,529 | $84 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Brookfield Properties | $420,904 | $202.36 | 8 |
| 2 | The Howard Hughes | $263,454 | $126.66 | 1 |
| 3 | Reef | $257,129 | $123.62 | |
| 4 | THINX | $251,947 | $121.13 | |
| 5 | PVH | $248,206 | $119.33 | 21 |
| 6 | Apple | $246,562 | $118.54 | 7 |
| 7 | Coty | $241,058 | $115.89 | |
| 8 | Beaumont Health | $240,734 | $115.74 | |
| 9 | Center on Budget and Policy Priorities | $237,553 | $114.21 | |
| 10 | Genentech | $233,452 | $112.24 | 33 |
| 11 | Coach | $232,233 | $111.65 | 2 |
| 12 | UTMB HEALTHCARE SYSTEMS | $231,108 | $111.11 | 12 |
| 13 | Stockbridge Capital Group | $230,696 | $110.91 | |
| 14 | Prologis | $230,621 | $110.88 | 9 |
| 15 | American Eagle Outfitters | $230,161 | $110.65 | 2 |
| 16 | The Rockefeller Foundation | $229,967 | $110.56 | 2 |
| 17 | Cytokinetics | $229,030 | $110.11 | 4 |
| 18 | Marchon Eyewear | $228,878 | $110.04 | |
| 19 | Leo Burnett | $228,782 | $109.99 | |
| 20 | Infoblox | $228,641 | $109.92 | 5 |
A job description for a senior vice president role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a senior vice president job description:
There are various strategies that you can use to find the right senior vice president for your business:
To successfully recruit senior vice presidents, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect senior vice president candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
To prepare for the new senior vice president first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
There are different types of costs for hiring senior vice presidents. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new senior vice president employee.
You can expect to pay around $194,770 per year for a senior vice president, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for senior vice presidents in the US typically range between $60 and $145 an hour.