In this, our eighteenth annual Private Equity & Venture Capital Compensation Report, we identify current industry compensation trends and provide insights into their effect on compensation practices, recruitment, and retention.

Despite economic uncertainties and evolving market dynamics, the 2024 findings represent another year of resilience for the private equity and venture capital industries. Compensation levels have continued to rise, driven by robust activity in select sectors and the ongoing competition for talent. Across most titles, total earnings saw meaningful increases, with base salaries contributing the largest gains.

While base pay rose, bonus growth showed more variability. Sixty-two percent of respondents reported higher total cash earnings this year, a slight improvement over last year. However, the distribution of bonuses remains complex, influenced by firm size, individual performance, and fund results. Larger firms continue to lead in bonus payouts, with most bonuses awarded between December and March.

The trend toward smaller team structures persists, with 85 percent of respondents working in groups of fewer than 25 employees. These streamlined setups emphasize specialization but highlight persistent challenges in internal training, as 50 percent of professionals rated their firm’s programs as weak or non-existent.

Private equity firms once again outpaced venture capital firms in compensation across most titles, though hybrid firms led in certain senior roles. Notably, venture capital professionals experienced their largest increase in bonus pay this year.

Hiring trends reflect an evolving landscape, with a modest decline in overall recruitment and an increase in headcount reductions. Firms are becoming more selective, focusing on strategic hiring in high-demand positions such as investment professionals and financial analysts.

The 2025 Private Equity and Venture Capital Compensation Report provides readers insightful, industry-specific information regarding the complex subject of compensation.

Other highlights from this year’s report include:

Compensation Satisfaction: COOs and CFOs remain the most satisfied with their pay, while Investment Managers and Associates reported the largest declines in happiness.

Guaranteed Bonuses: Only 29 percent of respondents received guaranteed bonuses, consistent with previous years.

Carried Interest Participation: Allocation patterns saw incremental shifts, with executive-level carry allocations increasing by 4 percentage points among those receiving over 10 percent of the carry pool.

Fund Performance Trends: Funds achieving returns of 10-24 percent rose to 38 percent, while those exceeding 25 percent decreased.

Work-Life Balance: Professionals reported stable work-life satisfaction, with 40 percent indicating above-average or excellent balance.

The 2025 Private Equity & Venture Capital Compensation Report remains an essential resource for understanding compensation in this competitive field.

Whether you are negotiating a pay package, setting firm-level policies, or planning your career trajectory, the insights provided here are valuable for navigating the complexities of private equity and venture capital compensation.

Get the Full Private Equity & VC Compensation Report

Again this year’s compensation report is primarily made up of responses from North America.

To learn more about compensation trends and benchmarks, you have 2 options:

1. Purchase this year’s full report at Private Equity & VC Compensation Report

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2. Become a Private Equity Jobs Digest Premium member and get the complimentary version of the report for no additional charge.