Duties of a Vice President
Every organization has specific objectives that it strives to meet. Vice Presidents, along with other top executives, are responsible for devising policies and strategies to help meet these goals. Vice Presidents usually collaborate with the CEO or president of a company to create these policies and goals. They will usually meet regularly with other executives to make sure operations are occurring according to existing policies. Top executives are held responsible for the operational success of their organization, as well as the accuracy of financial reporting. This can make these positions highly stressful.
The duties of a Vice President will vary, depending on the size of the organization. In a large organization, these duties may be extremely specialized, while Vice Presidents in smaller organizations may be required to handle many different tasks. In a large organization, there may be a number of Vice Presidents, each one responsible for a specific sector of the company's work.
Smaller organizations usually have fewer Vice President Positions, and often only one. In general, the Vice President oversees a number of other executives and staff, and directs their activities in accordance with the organization's goals and his or her specific duties. The ability to delegate and communicate well is very important.
Work Environment
Most top executives have large, luxurious offices and many supporting workers. However, they may be required to spend significant amounts of time in these offices, working long after other employees have gone home. Evening and weekend work hours are very common, and overtime work is essentially standard. Scheduling may be flexible, however, and Vice Presidents are usually compensated with paid vacation and other benefits.
Vice President Positions often require a lot of travel - national, regional, local, and even international trips between offices and to other companies. They may be required to monitor the operations of the organization or to meet with staff, customers, and other executives. These conferences allow Vice Presidents to make sure that the company or organization is working in the expected way, and to stay on top of information needed to operate their organization.
In a large organization, a Vice President will often be required to transfer between offices on a regular basis, and to relocate for his or her job. Success in an organization may vary between earning greater profits, working more efficiently, acquiring funding and many other acts, depending on the goals of the organization the Vice President is working in. Often, Vice Presidents in charge of organizations or departments that are doing poorly will find that they are being replaced by another candidate.
Qualifications and Training
Top executives like Vice Presidents don't have strict requirements for their training or qualifications. Most of these workers do have a minimum of a bachelor's degree, and they usually have high levels of experience, which help them perform their duties. Many Vice Presidents have a graduate degree in business administration or a related discipline.
Often, a worker will enter a Vice President's position from within the organization, since promotion of experienced managerial personnel from lower levels is common when there's a vacancy. However, it is possible for executives from other organizations to be hired for this position as well. The majority of organizations prefer extensive managerial experience for their top executives, including Vice Presidents.
High quality personal skills and analytical ability are required for success as a Vice President. It's important for people in this position to have clear, persuasive communication skills, as well as good leadership abilities, business judgment and self-confidence. A Vice President must be flexible and determined, as well as self-motivated.
Job Prospects and Salary
Vice Presidential candidates should expect close competition for these positions, due to the prestige and attractive pay rates. Many openings occur every year, since executives often transfer between positions or retire. This means that there are few openings for new entrants to the executive level instead; people who have been employed there for some time tend to switch between jobs. The best opportunities are available for those who have strong accomplishments that prove their ability to lead and improve efficiency and competitiveness.
Vice Presidents' salaries vary, but tend to be among the highest in the company. Presidents and CEOs tend to have higher pay scales. On an average, people in Vice President jobs tend to make between $90,000 and well as over $100,000 per year, depending on experience in the job. This makes this position very appealing to applicants, especially since many other forms of compensation are often included. These may include technological devices, such as computers and PDAs, company cares, compensated travel and much more.
