This personnel is in charge of overseeing the product development team to develop and execute product development policies, objectives, and activities to promote the product's image in the market and achieve the sales performance target. They supervise the product development strategies from ideation to the final execution and market release. They handle the budget and resource allocation to support product development operations. Additionally, they ensure that outputs meet the quality standards and timetables. Asides from that, he conducts research to identify new products, product improvements, and product redesign.
Vice president product development positions require a bachelor's degree in a related field with previous professional experience in a similar role. Candidates must possess product management, decision-making, sales, leadership, analytical, and communication skills. The vice president of product development earns a whopping sum of $169,593 per year, which is $81.54 per hour. Their salary ranges from $115,000 to $249,000.
There is more than meets the eye when it comes to being a vice president product development. For example, did you know that they make an average of $81.54 an hour? That's $169,593 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 21,800 job opportunities across the U.S.
There are certain skills that many vice presidents product development have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and creativity.
When it comes to the most important skills required to be a vice president product development, we found that a lot of resumes listed 12.7% of vice presidents product development included product development, while 5.8% of resumes included analytics, and 5.5% of resumes included project management. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the vice president product development job title. But what industry to start with? Most vice presidents product development actually find jobs in the finance and technology industries.
If you're interested in becoming a vice president product development, one of the first things to consider is how much education you need. We've determined that 67.0% of vice presidents product development have a bachelor's degree. In terms of higher education levels, we found that 18.8% of vice presidents product development have master's degrees. Even though most vice presidents product development have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a vice president product development. When we researched the most common majors for a vice president product development, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on vice president product development resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a vice president product development. In fact, many vice president product development jobs require experience in a role such as vice president. Meanwhile, many vice presidents product development also have previous career experience in roles such as director of product development or director.