Salaries For Executive Vice President         

An Executive Vice President (EVP) is a senior leadership position within an organization, typically reporting directly to CEO or President. EVPs are responsible for seeing a wide range of business functions and often have a broad portfolio of responsibilities, such as managing operations, sales and marketing, finance, and human resources. Let us know about the ‘Salaries For Executive Vice President’.

Salaries For Executive Vice President

They are expected to have a deep understanding of the company’s goals and objectives as well as the ability to provide strategic direction and make critical decisions. EVP’S plays a very important role in driving the success of an organization and often viewed as the key member of the executive team. 

Salaries for EVP’S

The salaries of executive vice president varies widely depending upon the factors such as size and type of the organization, industry, location and the individual’s experience and qualification. According to pay scale the average annual salary of an EVP in the United States us around $173, 000 but this can range from $98, 000 to over $300, 000 or more. In addition to base salary many EVP’s may also receive bonuses , stock options and other forms of compensation. 

Factors affecting salaries of EVP’s

  • Size of the industry: The size of the organization is one of the primary factor that can impact the salary range for Executive Vice President. In larger organization EVP’s typically have more responsibilities and oversee larger teams, which can result in higher salaries. For example, according to data from salary. Com as of February 2023,the median salary of an EVP in a company with over 10 billion in revenue is around $500, 000.For example, according to the executive compensation data provider, the median total compensation for EVP’s at S&P 500 Companies in 2020 was around $2.5 million. However, the median total compensation for EVP’s at companies with less than $1 billion in revenue was around $1.3 millions. 
  • Type of the industry: The type of the industry can have a significant impact on the salaries of Executive Vice President (EVP’S). EVP’s typically hold high-level leadership roles and are responsible for overseeing a company’s operations, finance and overall strategy. Salaries for EVP’s can vary widely depending on the industry in which they work. Based on the data provided by  Glassdoor. Com , payscale.com  and Salary. Com here are some general salary ranges:
  1. Finance, banking and private equity: EVP’s in these Industries can expect to earn some of the highest salaries with an average range of $200, 000 to $500, 000 per year. 
  2. Technology and software: EVP’s in these industries are in high demand and can earn average salary ranging in between $150, 000 to $ 400,000 per year. 
  3. Healthcare: EVP’s in healthcare can earn salaries in ranging from $150, 000 to $ 300,000 per year. 
  4. Manufacturing: EVP’s in manufacturing can earn an average annual salary ranging from $150, 000 to $300,000 per year. 
  5. Non- profit and education: EVP’S in non profit and education can earn an average annual salary ranging from $100, 000 to $200, 000 per year. 
  • Location of the industry: The salary for Executive Vice President can also vary according to the location of industry. Here are some general locations and varying salary ranges of EVP’s :
  1. New York City: EVP’s in New York can earn highest salary which ranges between $250, 000 to $700, 000 per year. 
  2. San Francisco: EVP’s here have high pay salary by the United States Government with an average annual salary of $200, 000 to $ 500,000 per year based on location of the industry. 
  3. Los Angeles: The Executive Vice President in Los Angeles can have an average annual salary income of $ 150,000 to $ 400,000 per year. 
  4. Boston: The EVP’s addressed in Boston can have an annual average salary of $ 200,000 to $400, 000 per year. 
  5. Chicago: EVP’s in Chicago can up to $150, 000 to $350, 000 as an annual average salary per year.
  • Individuals experience and qualifications: The salary range of Executive Vice President also vary according to their level of experience and qualifications. Here are some general salary range based on the year of experience :-
  1. EVP’s with Less than 5 years of experience can expect an annual average salary of $100, 000 to $200, 000 . 
  2. EVP’s with experience in between 5 years to 10 years can have an annual average salary of $150, 000 to $300, 000 . 
  3. EVP’s with an experience ranging in between from 10 to 20 years can have an average salary income of $200, 000 to $ 500,000.
  4. EVP’s having an experience of more than 20 years can expect to have highest salaries in the industry ranging from $300, 000 to $ 1,000,000 per year. 

Conclusion

The salary range of Executive Vice President can vary widely depending upon several factors such as the industry, location, size and type, individuals experience and qualifications. EVP’s in finance, banking and private equity tend to earn the highest salaries while those in non-profit and education sector can earn typically low salaries.

The salary ranges varies also based on the EVP’s years of experience , with those having more working experience can earn high salary and those having low work experience can earn a low annual average salary. It’s important to note that these are general estimates and the specific salary of an EVP can depend on variety of factors. 

FAQ’S 

1. What is the average salary range for EVP’s? 

The average salary range for EVP’s depends on various factors such as industry, location and size . General salaries can range from $100, 000 to $1, 000,000 per year. 

2. What industries pay the EVP’s highest salaries? 

Finance, banking, investment and private equity are some of the industries which pays the EVP’S the highest salary per year. 

3. How does EVP’s experience affect their salary? 

EVP’s having more working experience will have high annual average salary range than those EVP’s who have less working experience. Less experienced EVP’s get low salaries. EVP’s with more than 20 years of experience earns highest pay by the industry. 

Salaries For Executive Vice President         

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