Executive VP Vs Senior VP

Oct 01, 2019

While the responsibilities and authority of executive vice presidents and senior vice presidents are similar, where both titles exist in the same organization an executive VP outranks a senior VP.

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Comparing Executive Vice Presidents and Senior Vice Presidents

Both executive and senior vice presidents work beneath a corporation's president or CEO. Both titles come with the responsibility and authority to regulate company-wide policy. The main difference between these two titles may largely depend on the responsibilities given to them by their employers.

Job Title Education Requirements Average Salary (2019)* Projected Job Growth (2018-2028)**
Executive VP Minimum of a bachelor's degree, several years of experience $182,977 -2% (for chief executives)
Senior VP Minimum of a bachelor's degree, several years of experience $176,675 -2% (for chief executives)

Source: *Payscale.com, **US Bureau of Labor Statistics

Responsibilities of an Executive VP vs a Senior VP

Most organizations will only have one president. However, they may have various levels of vice presidents. Vice presidents are all senior-level executives who report directly to the president and CEO. While all vice presidents share similar administrative, management, and leadership tasks, their job titles, rank, and job duties might depend on their employing organization.

Executive Vice President

An executive vice president is second-in-command to a president or CEO. Thus, they have the authority to direct other senior officials in their company. They also may be involved in developing long-term strategies for their company's growth. Executive vice presidents generally work in corporate headquarters. They may have to attend networking functions outside of work hours. An executive vice president can advance to become president or CEO. Employers might require these individuals to have a master's degree and up to ten years of related experience. A bachelor's degree and extensive experience might be suitable for some positions.

Job responsibilities of an executive vice president include:

  • Appoint department heads
  • Develop a company's overall culture, budget, strategy, and goals
  • Oversee and coordinate all teams and departments across their company
  • Work with legal teams to create department policy or negotiate contracts
  • Work to implement strategies approved by an organization's board of directors

Senior Vice President

A senior vice president is a vice president who has significant management experience. Due to their seniority, they may be placed in charge of other vice presidents. They have great management and leadership skills, as they must coordinate departments across their organization. They tend to work in an office setting and may or may not work in their company's headquarters. Like executive vice presidents, these individuals need a bachelor's or master's degree and between ten to 15 years of related experience.

Job responsibilities of a senior vice president include:

  • Develop a company's overall culture, budget, strategy, and goals
  • Create methods for measuring department performance
  • Recommend organizational changes to help a company meet its goals
  • Report to the president, CEO, or COO

Related Careers

There are a range of career opportunities within the top ranks of large corporations. If you aspire to rise to the top of a company, you may want to consider a career as a chief development officer or growth manager, as they both require management and senior-level decision making skills similar to vice presidents.

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