In a small saucepan, melt butter, brown sugar and salt over medium low heat. Stir continuously until brown sugar dissolves.
Remove from heat and whisk in vanilla. Set aside to cool.
Using an electric mixer, beat together cream cheese and powdered sugar at medium speed until fluffy. Reduce speed to low and blend in cooled butter mixture. Increase speed to medium and blend for 1 minute. Lastly, stir in chocolate chips.
Serve with graham crackers or vanilla wafers for dipping.
Refrigerate leftover dip.