What is the Average VP of HR Salary?
Are you looking for the average vice president of human resources salary? Then, we have something useful for you.
Not everyone gets a chance to become vice president of human resources. It is an executive and highly lucrative title in the HR department. As hiring and retaining employees is becoming a challenge for businesses of all sizes, the need for an organized and centralized HR leadership team has increased significantly.
A survey found that 86% of HR professionals reported that recruitment is just like marketing. It shows the importance of HR and the vice president of HR in today’s business world. Challenging roles come with high salaries. Besides a base salary, the most common vice president of human resources also earns average additional cash compensation for efforts that bring positive results.
In this article, we cover different factors that influence their yearly salary to help you get a clearer picture of the average vice president of human resources pay and how you can increase the compensation you earn as a vice president of human resources.
Human Resources Vice President Salary Based on Location
One of the key variables that have a direct impact on the VP of HR salary is geographic location. Salaries aren’t consistent throughout the United States because the cost of living is different in states and cities within a state. The demand and supply of vice presidents of HR in a local labor market impact salary and average total compensation.
If you are a potential candidate for the vice president of human resources job, you need to understand how the location impacts your salary. Here is the list of the top and least paying states and cities to help you in job hunting:
Highest Paying States
States where the job title vice president of human resources has the highest salaries are Nevada, Massachusetts, California, Connecticut, and Vermont. All these states have a cost of living index higher than the national average and this is a reason why businesses have to offer a high salary to their employees.
Of all these mentioned states, Nevada is the highest paying in the entire country for vice president of human resources with an average base salary of as much as $155,041 per year. The cost of living in Nevada is 6.3% higher than the national average and the number of limited jobs are the two factors contributing to a higher salary per year.
Highest Paying Cities
The yearly salary of the vice president of human resources varies from city to city. California, for example, is one of the top-paying states but not all of its cities offer you a high salary. Most of the cities in California offer below-average vice president of human resources salaries. Here is a list of the cities with the highest salaries for vice president of human resources:
- Boston, MA: $332,405
- Las Vegas, NV: $184,941
- San Francisco, CA: $177,054
- El Paso, TX: $137,074
Boston is the highest-paying city in the US where the average total compensation of a vice president of human resources is $332,405 per year. The cost of living in these cities is higher than the national average such as San Francisco and El Paso are among the most expensive cities in the US:
Lowest Paying States
When you compare salary vs. cost of living in a state, you end up saving more with a low salary in a cheap state than getting a high salary in an expensive state. South Carolina scores 93.6 on the cost of living index and has the lowest average VP human resources salaries of $130,460 per year.
Tennessee, Georgia, and Oklahoma have cost of living indexes lower than 90 while the median salary in these states is above $130,000 per year for the vice president of human resources.
Human Resources Management Career Path Salaries
The HR salary along the career path lets you know how much each role makes. Understanding the career path helps you set the right personal goals. If you want to become a vice president of human resources with decent compensation in an industry of your choice, you must follow this career path:
Human Resources Assistant: $44,245
The average annual salary of an HR assistant is $44,245 with an hourly rate of $16.21 The entry-level salary is $42,826 while the top 10% of HR assistants make $61,912 per annum. You need a Bachelor’s degree in HR or a related field to start your career as an HR assistant. Experience in HR or certification makes it easier to get a decent starting salary.
Strategic Human Resources Business Partner: $164,568
A strategic HR business partner makes an average salary of $164,568 per annum. Those with a few years of work experience earn $193,000 every year, whereas the yearly salary of senior strategic HR business partners is $322,000.
Human Resources Manager: $86,206
Managerial experience of at least 5 years in a similar HR position qualifies you for the HR manager post. The main task of a manager is to plan and manage day-to-day HR functions in collaboration with subordinates. The average HR manager’s yearly salary is $86,206 with a starting salary of $47,831 and a top salary of $106,309.
Human Resources Director: $112,718
The HR director is a leadership position involved in strategic decision-making of the HR and the entire organization. It requires 10+ years of HR experience at a strategic level. The starting director of human resources salary ranges around $59,000 per year and the average yearly salary is $112,718. The top 10% of HR directors make $223,000.
Human Resources Vice President: $344,000
Being at the top of the HR career path, a vice president of human resources makes $344,000 per year on average. The entry-level VP of HR earns $270,000 while those in senior positions have an average yearly salary of $450,000.
Education and Experience
Your educational background is a vital variable that defines your compensation as a vice president of human resources. A Bachelor’s degree in business administration or a relevant field and experience make a perfect fit for this strategic position. Experience is more critical than education for this post. A highly experienced candidate receives a better package than someone with less experience.
Certifications
Professional certifications also affect the average VP of HR salary. Certificates are a way to prove your skills and competencies. If you are hunting for vice president human resources jobs, the certifications that are useful in increasing your chances of getting hired fast at a decent pay include Strategic HR Leadership by HR, Senior Certified Professional by SHRM, and Senior Professional in Human Resources by HRCI.
Looking for the best certifications to excel in your VP of HR career? Check out our top certifications.
Industry
The average vice president of human resources salary has also a connection to the industry. Some top-paying industries are healthcare, finance, media, hospitality, and manufacturing. Of all these, healthcare is the highest-paid industry with a yearly salary of up to $355,000.
The Bottom Line
Consider all the variables that influence the VP of HR salary and create your strategy. Choose an industry and location based on your preference, target salary, and additional cash compensation. Start acquiring relevant experience, skills, and certifications.
The best skill a recent vice president of human resources must have is strategic expertise in one and only one industry. Master and excel in your target industry. This works great in terms of salary and additional cash compensation.
FAQs
Here are the most frequently asked questions and answers related to VP of HR salary:
What does a VP of HR do?
A VP HR, or the Vice President of Human Resources, is a senior executive responsible for leading a team of HR professionals focusing on recruitment, compliance, employee relations, compensation, and performance. A VP of HR is a part of an executive team working in a company with directors on business objectives, employee retention, and overall organizational development.
How much does a VP of HR make in the US?
A VP of HR in the US makes $165,809 per year on average. Salary ranges can differ based on various important factors, including education, certifications, additional skills, and years of work experience in an organization.
What is the difference between the HR Director and the VP of HR?
The HR director and VP of HR are two specific roles in a company. VPs manage the overall organization, whereas the HR director handles the human resources department. While the VP of HR makes decisions for a company in the absence of the president/CEO, the HR director also makes important decisions, but often requires approval from the VP or other executives.
Who is above the VP of HR?
In most organizations, there is a VP of HR or a CHRO who reports to the CEO or business owner. This is the most senior-level role in an HR department. The one working in either of these positions is in charge of the team of both HR experts and hiring managers.
If you are new to Human Resources and are looking to break into an HR role, we recommend taking our HR Certification Courses, where you will learn how to build your skillset in human resources, build your human resources network, craft an excellent HR resume, and create a successful job search strategy.
