What's the Difference Between an EVP and an SVP?

In a company, the titles Senior Vice President (SVP) and Executive Vice President (EVP) often reflect different levels of responsibility and hierarchy, though the exact differences can vary by organization. Here’s a general breakdown:

1. Hierarchy and Scope:

- EVP (Executive Vice President): This title usually denotes a higher rank than SVP. EVPs are often part of the senior-most leadership team and may have a broader or more strategic scope of responsibilities. They often report directly to the CEO or the Board of Directors and may have oversight of multiple departments or major divisions within the company.

- SVP (Senior Vice President): SVPs generally rank below EVPs. They have significant responsibility and oversee specific departments or functions but are usually not as involved in the highest-level strategic decisions as EVPs. SVPs might report to an EVP or another higher-level executive.

2. Responsibilities:

- EVP: Responsibilities for an EVP can include setting long-term strategic goals, representing the company in high-level meetings, and making decisions that affect the entire organization. EVPs often have a more prominent role in corporate governance and strategic planning.

- SVP: SVPs focus more on operational management and implementing strategies within their specific areas. They handle day-to-day operations and ensure that their departments align with the company’s broader objectives set by higher executives.

3. Decision-Making:

- EVP: They are often involved in key strategic decisions, mergers and acquisitions, and overall corporate strategy. Their decisions typically have a significant impact on the company’s direction.

- SVP: While SVPs make important decisions related to their areas of responsibility, they usually do so within the framework of strategies and goals set by EVPs or other higher-level executives.

In summary, while both SVPs and EVPs hold high-ranking positions with substantial responsibilities, EVPs typically have a broader and more strategic role within the company compared to SVPs, who usually focus on specific operational or departmental functions.