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What was your “That’s it, I quit” moment
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A way to reward you without promoting you.
It’s just a level of status, like the “Senior” in YOUR title. Within some networks there are small perks (e.g., extra vacation days). A VP can be let go as easily as anyone else; the title comes with no special powers or protections and probably nothing unique regarding pay.
^ yup
Agency side it means nothing. Client side it means everything. VP Creative (or Design) Director client side is the highest you can normally get (since they have no CCO titles).
Doesn’t mean much. And it definitely doesn’t mean you can’t get fired
Status and higher pay
It’s a different compensation structure, that’s all pretty much.