Vice President of Product Management
This guide explores the crucial role of product management recruitment and leadership in driving success and growth for modern businesses.
If you are a VP of Product Management candidate, this page showcases the responsibilities and the skills required to succeed in this role today. You can also see our current available jobs.
For employers looking to hire a VP of Product, we provide valuable assets including an example Vice President of Product Management job description and salary expectations for the top talent in the market today.
What is a Vice President of Product Management?
A Vice President of Product oversees and directs the development and management of a company’s product portfolio. They are responsible for setting the strategic vision and roadmap for the company’s products, ensuring that they align with the overall business objectives and customer needs.
The Vice President Product works closely with cross-functional teams such as engineering, design, marketing, and sales to drive the successful execution of product initiatives. They are also involved in market research and analysis to identify emerging trends and opportunities, and make informed decisions on product enhancements or new product launches.
Overall, the Vice President Product plays a critical role in driving the company’s growth and success through effective product planning, development, and management.
Vice President of Product objectives
Business impact and revenue
While revenue generation may be a shared objective with other product leadership roles, the VP Product is particularly focused on driving business impact through product initiatives. They evaluate market opportunities, assess pricing models, and identify strategies to increase revenue and profitability specifically.
The VP Product seeks to position the company’s products as competitive and unique in the market. They look at competitor offerings, conduct market research, and leverage customer insights to ensure that the products stand out and provide value to users.
In certain cases, the VP Product may also have an objective to represent the company and its products externally. They may participate in industry conferences, engage with customers, and act as a thought leader, building the company’s reputation and expanding its market presence.
Product vision, strategy and roadmap
The VP Product defines and executes the product strategy, creating a roadmap that outlines the key initiatives and milestones. They prioritise features, allocate resources effectively, and balance short-term goals with long-term vision to drive product success.
This role is accountable for driving business growth through effective product management. They define and monitor key performance indicators (KPIs) related to product success, such as user engagement, conversion rates, and customer satisfaction. They use these metrics to identify areas for improvement in the overall customer experience.
VP of Product salary
In today’s market, a salary of £100,000 to £200,000 would be expected at this VP Product Management level.
When it comes to the salary of a Vice President Product, there are several factors to consider for employers. Employers need to factor in the level of experience, industry expertise, and the size and complexity of the organisation when determining a salary range for this critical role. Often the more niche the skill set or if specific domain experience is required, a higher salary may need to be offered to get the candidate you need for business success.
For candidates, it’s essential to research industry standards and understand the scope of the role they are applying for to negotiate a fair compensation package. A candidate should consider the organisation’s size, industry, and location when determining salary expectations, along with their level of experience and expertise in product leadership.
Furthermore, candidates should also consider other forms of compensation, such as bonuses, equity, and benefits, which can vary widely among organisations.
Ultimately, a successful negotiation for a VP Product role should take into account both the employer’s and candidate’s needs and expectations.
Read our guide:
Product management salary 2023
Vice President of Product Management: metrics
A VP of Product would look to improve these important metrics within their business / product portfolio:
User engagement metrics
- Average Session Duration: Measures the average time users spend on the product.
- Daily Active Users (DAU): Tracks the number of unique users engaging with the product on a daily basis.
User satisfaction metrics
- Net Promoter Score (NPS): Assesses user satisfaction and loyalty by asking how likely they are to recommend the product to others.
- Customer Effort Score (CES): Measures the ease of product use and customer satisfaction.
Product adoption metrics
- Activation Rate: Measures the percentage of users who complete key actions or reach important milestones after sign-up.
- Time to Value: Measures the time it takes for users to experience the full value of the product.
- Conversion Rate: Measures the percentage of users who complete a desired action, such as making a purchase or signing up for a premium service.
- Cart Abandonment Rate: Tracks the percentage of users who add items to their cart but do not complete the purchase.
- Churn Rate: Measures the percentage of users who stop using the product over a given period.
- User Lifetime Value (LTV): Estimates the net profit attributed to the entire relationship with a user.
VP of Product job description
A typical VP of Product job description will read something like the below:
As the Vice President Product Management, you will be responsible for leading and scaling our product management function. You will play a critical role in shaping our product vision, strategy, and roadmap, ensuring alignment with our overall business objectives. Working closely with cross-functional teams, you will guide the development and execution of our product portfolio, from concept to launch, and beyond. Your leadership and expertise will be instrumental in driving innovation, enhancing customer satisfaction, and maximising business impact.
Product strategy and vision:
- Define and communicate the product vision and strategy in alignment with the company’s overall goals and market trends.
- Conduct market research and competitive analysis to identify new opportunities and market gaps.
- Collaborate with senior leadership to prioritise product initiatives and allocate resources effectively.
Product roadmap and execution:
- Develop a comprehensive and ambitious product roadmap that outlines the short-term and long-term goals of the company.
- Drive the successful execution of the product roadmap by working closely with cross-functional teams, including engineering, design, marketing, and sales.
- Oversee the end-to-end product development lifecycle, ensuring high-quality and timely delivery of innovative products.
- Build and lead a high-performing product management team, providing mentorship, guidance, and support.
- Foster a culture of collaboration, innovation, and continuous improvement within the product management function.
- Identify and develop talent, ensuring the team has the skills and resources needed to achieve objectives.
Market analysis and customer focus:
- Conduct market research, gather customer feedback, and analyse user data to identify customer needs, preferences, and market trends.
- Leverage insights to drive product enhancements, feature prioritisation, and user-centric decision making.
- Continuously monitor market dynamics and competitive landscape to maintain a competitive advantage.
- Collaborate closely with internal stakeholders, including executive leadership, engineering, marketing, sales, and customer success, to ensure alignment and shared objectives.
- Act as a trusted advisor to key stakeholders, providing strategic product insights and recommendations.
- Proven experience as a Vice President of Product Management or a similar senior leadership role in a tech scale-up environment.
- Extensive experience in product management, including product strategy, roadmap development, and product lifecycle management.
- Strong understanding of software development processes and agile methodologies.
- Track record of successfully launching and scaling innovative, customer-centric products.
- Excellent leadership and team management skills, with the ability to inspire and motivate a high-performing team.
- Exceptional communication and collaboration abilities, with the aptitude for influencing and building consensus among stakeholders.
- Analytical mindset, with a data-driven approach to decision making.
- Bachelor’s degree in a relevant field; MBA or advanced degree is a plus.
Download full VP Product job description
VP of Product v Product Director
A VP of Product and a Product Director both play key roles in a company’s product management, but they differ in their level of responsibility and focus.
A VP of Product is an executive-level position responsible for setting the overarching product strategy, aligning it with business goals, and making high-level decisions. They manage Product Managers and teams, allocate resources, and ensure long-term product vision and growth alignment.
A Product Director, on the other hand, operates at a mid-to-senior level and concentrates on the day-to-day execution of the product strategy. They work closely with cross-functional teams to ensure products align with the roadmap, meet customer needs, and handle more tactical decisions and implementation details.
Vice President of Product skills
Employers typically look for a range of skills and experience when hiring a Vice President Product. Here are ten skills that are commonly sought after:
A VP Product must be able to lead, motivate and manage a team of product managers, designers, and developers to drive innovation and growth.
A VP Product must be able to develop and execute a clear product strategy that aligns with the organisation’s overall goals and objectives.
A VP Product must be able to leverage data and analytics to make informed decisions about product development and optimisation.
A VP Product must have a deep understanding of customer needs and behaviours to develop products that meet and exceed their expectations.
A VP Product must have a solid understanding of business principles, including revenue models, pricing, and financial analysis.
Experience with Agile methodologies
A VP Product should be familiar with Agile methodologies, such as Scrum and Kanban, to ensure efficient and effective product development.
User experience (UX) design
A VP Product should have an understanding of UX design principles to ensure products are user-friendly and meet customer needs.
Strong communication skills
A VP Product must be able to communicate clearly and effectively with both internal and external stakeholders.
A VP Product should have a passion for innovation and a willingness to explore new ideas and technologies.
A VP Product should have a solid understanding of product marketing principles, including product positioning, messaging, and go-to-market strategies.
In addition to these skills, employers typically look for candidates with a proven track record of success in product management or a related field, experience managing cross-functional teams, and the ability to work collaboratively with other departments such as engineering, marketing, and sales. They may also look for candidates with experience in the specific industry in which the company operates.
VP Product FAQs
- Can a product manager become a vice president?
- The simple answer is yes. To become a Vice President of Product, a Product Manager will likely need to be promoted through the ranks, first becoming a Product Director and a VP of Product. This transition therefore may take a few years to happen.
- What does a VP Product manager do?
- The VP of Product is responsible for setting the product vision and overall direction of the product teams. Once set, the VP needs to ensure all teams understand the company’s goals and objectives, allowing them to create and develop products to meet the business needs. The VP will need to ensure the customer is considered at each stage of the development process and oversee the product experience from start to finish.
- What does VP product stand for?
- The VP in a VP Product title stands for Vice President.
- VP Product salary in London
- A VP of Product could expect a salary of £100,000 to £200,000. This will be enhanced through a further benefits package including pension contributions, healthcare cover, insurances and often wellbeing initiatives.
- What is the difference between a VP of Product and a Director of Product?
- A VP of Product holds an executive role responsible for shaping the company's overarching product strategy, managing teams, and making high-level decisions, while a Product Director is a mid-to-senior level manager focused on the day-to-day execution of the product strategy, working closely with cross-functional teams and handling more tactical aspects. Both roles are vital in a product business, with the VP of Product providing strategic leadership and the Product Director ensuring effective implementation.