In business, “vice president” refers to a rank in management, usually in American or American-influenced companies. A trade union may also elect a vice president. Most companies that use this title generally have large numbers of people with the title of vice president with different types of vice president (e.g. vice president for finance). A vice president in business usually reports directly to the president or CEO of the company. When there are several vice presidents in a company they are sometimes ranked by naming the highest ranking Executive VP, the second highest ranking Senior VP, and the remainder of the management team just VP. There are usually several SVPs in one company, when that title is used. There can also be more than one EVP. The title of bumistant Vice President is typically used in large organizations as a subordinate rank to Vice President. The title of Second Vice President may be used in bumociations to designate an individual with rank directly below that of the Vice President.

In large brokerage firms and investment banks, there are usually several VPs in each local branch office, the title being more of a marketing approach for customers, than denoting an actual managerial position within the company.

A corporate vice president is rarely “second in line” to succeed the corporate president following death or resignation. Such decisions are usually left up to the board of directors.