[sbuttgereit]

Depends on the company. In some companies, there are many VPs that themselves form a hierarchy... so you'll have a VP, Senior VP, Executive VP, etc. So VP can start to look an awful lot like directors (not board directors that is).

On the flip side, I'm working with a company where everyone that should have a "Director" title relative to their authority, knowledge, and experience has been given a VP title... probably because the company isn't very attractive as an employer.