Holt Thomson Reuters Pe VC Compensation Study Us

2012-2013 Holt Thomson Reuters Private
Equity and Venture Capital Compensation Report

North American Edition
Current Trends in Design and Levels Of Compensation Private Equity and Venture Capital
PE/VC Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
I. Executive Summary
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
LEVELS BY TYPE & SIZE
OF FIRM (INCLUDES
ASIA PACIFIC)
2012byThomsonReuters,HoltPrivateEquityConsultants,andMM&KLtd.AllRightsReserved
PrivateEquityandVentureCapitalNorthAmericanReportPage1
Table of Contents
I.
Executive Summary
KeyFindings
ScopeandMethodology
AbouttheAuthors
II.
III.
3
8
13
Financial and Operational Data

CommiOedCapitalandCostofInvestments
NumberofFundsManagedandNumberofPortfolioCompanies
15
OwnershipStructure
ManagementFees/RelatedFees
FeesRatios
FeeSplits
17
16
18
19
20
Human Capital
NumberofEmployees
StangChanges2011/2012
InvestmentManagerRatios(Capital,Fees,PortfolioCompanies)
HumanCapitalPolicies,ExperiencetoPartner,andMBAHiring/Compensation
Practices
PayrollCostAs%ofGPFees/Revenues
IV.
Page
22
23
25
26
27
Compensation Strategy
TypesofCompensation
BaseSalaryandBonusLevelChanges
AnnualBonusPlans
CarriedInterestPlans(CIP)
EmployeeBenetsandPerquisites
GeneralPartnerCommitment(GPC)
CoInvestmentPlans
V.
Year to Year Changes in Compensation Levels
VI.
Compensation Levels Per Position (By type & Size of Firm)
VII. Compensation Levels By Type & Size of Firm

(Includes Asia Pacific)
29
31
35
37
45
48
49
51
56

113
Survey Background
The2013HoltThomsonReutersPrivate
EquityandVentureCapitalCompensation
Reportisajointeortofthreeparties.They
arecompensationconsultantsHoltPrivate
EquityConsultantsandMM&K;andglobal
nancialpublisherThomsonReuters.Itis
jointlywriOenbyMichaelHoltandDavidM.
Toll.
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Forpermissionsandothercopyrightrelated
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Key Findings
Introduction
Thetwoyearperiodfrom2011to2012hasbeenanexceptionallygoodoneforcompensationintheNorthAmericanprivateequity(includingventurecapital)
markets.Salariesandbonusesrosesmartlyforseniorprofessionals,anddramaticallyforjuniorprofessionals,asevidentinTableI.Protdistributionsalsojumped.
Thereasoncanbetracedtothereboundintheprivateequitymarkets,withfundraising,dealmakingandM&Aexitsontheriseagain,amidageneral,ifslow,
economicrecoveryinthewakeofthe20072009GreatRecession.
TableI:ChangesinMedianCompensation,20062012
Partner
Salary
NonPartner
Salary+
Salary+
Bonus+
Bonus
Carry
2006/2007
Salary
All
Salary+
Salary+
Salary+
Salary+
Bonus+ Salary
Bonus+
Bonus
Bonus
Carry
Carry
N/A
13%
16%
23%
2007/2008
11%
14%
23%
13%
34%
35%
12%
18%
25%
2008/2009
0%
6%
12%
6%
10%
11%
3%
1%
5%
2009/2010
0%
5%
9%
5%
7%
8%
0%
5%
5%
2010/2011
1%
9%
12%
4%
7%
8%
2%
4%
10%
2011/2012
5%
11%
25%
21%
27%
33%
10%
15%
26%
TableII:USBuyoutandVCFundraisingBouncesBack
($Billions)
$250.0
$230.3
$200.0
$156.6
$150.0
$100.0
$50.0 $29.6
$25.0
$63.9 $54.4
$47.9 $44.6
$16.3 $13.6 $18.5 $15.9
$-
Venture
Capital
Buyout
Source: Thomson Reuters, as of Sept. 14

Fundraising,socriticalindeterminingcompensation,boOomedoutin2010for
bothU.S.buyoutandventurecapitalrms(seeTableII).

Althoughlimitedpartnershavebeenpushingforlowermanagementfees,byand
largebuyoutrmsstillchargebetween1.5%and2%ofcommiOedcapitalduring
theirinvestmentperiods,whileventurermschargebetween2%and2.5%.Asrms
raisemoremoney,theybringinmoreinmanagementfees,andthemoremoney
theyhaveavailabletopaytheiremployeesinsalariesandbonuses.

The2013HoltThomsonReutersPrivateEquityandVentureCapitalCompensation
Report(NorthAmericanedition)reectsthecombinedeortsoftwocompensation
consultanciesFloridabasedHoltPrivateEquityConsultantsandLondonbased
MM&KandNewYorkbasedpublisherThomsonReuters.Thereportisbasedon
anextensive,twopartsurveyofprivateequityrmsconductedinthespringand
earlysummerof2012.

Alltold,107rmsparticipatedinthesurvey.Theyprovidedinformationonalmost
3,000workers,employedinsome30dierentpositions,fromanalysttomanaging
generalpartnerontheinvestmentsideofrms,fromreceptionisttochiefoperating
ocerontheadministrativeside.Thesurveyquestionnaireconsistedoftwoparts.
Therstgathereddataonrmwiderecruitingandcompensationpractices,suchas
thestructureofcarriedinterestandcoinvestmentprograms;thesecondgathered
dataonthe2011and2012compensationpackagesofindividualemployees.

Thereportitselfisdividedintosevenparts.Therstfourcoverrmwide
compensationpracticesfor16groupsofrmsorganizedbyinvestmentstrategy,
assetsundermanagement,andwhetheraliatedwithasponsorcompany(suchas
aninvestmentbank).PartsVVIIcoveremployeecompensation,byjobtitle,for24
groupsofrms,similarlyorganizedbyinvestmentstrategy,assetsunder
management,andanysponsoraliation.Formoredetaileddescriptionsofthe
samplesseetheScopeandMethodologysectionofthisexecutivesummary.

Key Findings
Sources of Revenue
Privateequityrmschargetheirinvestors,asamanagementfee,anywherefrom1.5percentto2.5percentofcommiOedcapitalannuallyduringtheinvestment
periodsoftheirfunds.Thosewithsmallerfundstendtochargethehigherpercentages,althoughonanabsolutebasistheyusuallybringinlessrevenue.
Aftertheinvestmentperiodendsthemanagementfeestypicallystepsdowntoreectthereducedworkloadneededtomanageaportfoliothathasenteredharvest
mode,aswellasthefactthatarmisoftencollectingfullfeesonsuccessorpartnerships.Inadditiontomanagementfees,buyoutrmsalsogenerateincome
throughdealfees,consultingfeesandrelatedfees,althoughthesefeeshavecomeunderpressureaswell.Specically,LPshavebeenpressingtokeepahigher
percentageofthesefees,tothepointwheremanyrmsshare80%oreven100%ofthesefeeswithinvestors.
Accordingtooursurvey,themedianformanagementfeesasapercentageofallactivefundsis1.3percentacrossallrmsinourstudy(seetablebelow).ForLBO/
GrowthEquityrmsinourstudythemedianis1.4percent,whileforVentureCapitalrmsthemedianisalso1.4percent.
ursurveyshowsthatthemedianprivateequity
O
rmdevotes60percentofitstotalGPfees/
revenuestopayrollseeTableIV.Thegureis
62percentforLBO/GrowthEquityrmsinour
study,and61percentforVentureCapitalrms.
TableIII:ManagementFeeRatios(Detailsareinfullreport)

Management Fee Ratios
Firm Classification
As a % Of All Active
Funds
Avg. 25th 50th

As % of

Invested Capital
As % Of Most Recent
Fund
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
LBO/VC/Mezz (Large)
***
***
***
***
***
***
***
***
***
***

***
***
LBO/VC/Mezz (Small/Mid-Size)
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***

***
LBO/VC/Mezz (All)
LBO / Growth Equity (Large)
***
***
***
***
***
***
***
***
***
LBO / Growth Equity (Small/MidSize)
***
***
***
***
***
***
***
***
***
LBO / Growth Equity (All)

Venture Capital (Large)
Venture Capital (Small/Mid-Size)
Venture Capital (All)
Mezzanine
1.4% 0.7% 1.4% 1.8%

***
***
***
***
***
***
***
***
1.7% 0.9% 1.4% 2.0%

***
***
***
***
***
***
***
***
***
***
***
***
2.2% 1.2% 2.0% 2.7% 3.6% 2.0% 2.7% 3.4%

***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
***
4.7% 2.5% 4.0% 4.9% 6.3% 2.0% 3.2% 4.5%

***
***
***
***
***
***
***
***
Fund of Funds
***
***
***
***
***
***
***
***
***
***
***
***
Corporate Venturing
***
***
***
***
***
***
***
***
***
***
***
***
Infrastructure/Distressed/
Turnaround
***
***
***
***
***
***
***
***
***
***
***
***
Secondary/ Co-investment
***
***
***
***
***
***
***
***
***
***
***
***
Institutional
***
***
***
***
***
***
***
***
***
***
***
***
All Firms
1.4% 0.3% 1.3% 2.0%
3.3% 0.7% 2.5% 4.3% 4.6% 1.9% 2.6% 3.7%
Key Findings
Sources of Revenue (Continued)
Weknowthatemployeecountdoesnotgouponastraightlinewithassetsundermanagement;privateequityrmsthatraiselargerpoolstendtounderwrite
largerdeals,whichdontnecessarilyrequiremoreresourcestotransact.Inlightofthis,wewouldexpectsalariesandbonusespaidtoprivateequityemployeesat
individualrmstobecorrelatedwithassetsundermanagement.Andsotheyare.Themoremoneyarmmanagesthemoremoneyittendstopayperemployeein
salaryandbonus.
Thiscorrelationhasbeenborneoutbythisandcountlesspriorindustrycompensationstudies.Justoneexamplefromdozensinoursurvey:Partners(our3rdlevel
investmentmanagementposition)atlargeventurecapitalrms($1.0billionormoreinassetsundermanagement)inoursurveyearnedamedian(50thpercentile)of
$543,000insalaryandbonusin2012,comparedwith$250,000fortheircounterpartsatsmallventurerms(lessthan$500million).
Infact,buyoutrmsinoursurveypaymoreinsalaryandbonusthandoventurermsinpart

becausetheytendtomanagelargerfunds.Inaddition,manybuyoutprofessionalshailfromthe
highpayingeldofinvestmentbanking,andbuyoutrmscompetetosomeextentwithWall
Streetfortalent.Venturecapitaliststendtohaveoperationalbackgroundsintheless
remunerativeeldsoftechnology,healthcareandconsulting.
TableIV:PayrollCostAs%ofGPFees/Revenues(Details
areinfullreport)

Salariesandbonusescomprisetwolegsofthecompensationstool.Thethird,andmostimportant
toinvestmentprofessionals,arecarriedinterestdistributions.Thesegetpaidoutofcarried
interest,orthe20percentofinvestmentprotsthatprivateequityrmsaretypicallyentitledto
keep(usuallyaftermeetingsomehurdlerateofreturn).Thepreviousfewyearshaveseenarise
inM&AandIPOactivity,whichinturnhasledtoariseinexitsforbothbuyoutandventure
capitalrms.Thisincreaseisreectedinhighercarriedinterestdistributionsacrossoursurvey
samples.
Firm Classification

LBO/VC/Mezz
(Large)
Payroll Cost As % of GP Fees/

Revenues
Avg.
25th
50th
75th
***
***
***
***
LBO/VC/Mezz
(Small/Mid-Size)

***
***
***
***
LBO/VC/Mezz (All)
***
***
***
***
***
***
***
***
Needlesstosay,theprivatemarketsarenotmonolithic.Nextwetakealookatindustrytrends
thatplayintocompensationpayoutsintwoofthelargestmarketsubsectors,LBO/Growth
EquityandVentureCapital.
LBO / Growth Equity (Small/Mid-Size)
***
***
***
***
50%
***
28%
***
62%
***
76%
***
Venture Capital (Small/Mid-Size)

***
***
***
***
52%
***
41%
***
61%
***
74%
***
Fund of Funds
***
***
***
***
Corporate Venturing
***
***
***
***
Infrastructure/Distressed/Turnaround
***
***
***
***
Secondary/ Co-investment
***
***
***
***

Mezzanine
Institutional
All Firms
***
***
***
***
50%
33%
60%
70%
Key Findings
2011-2012 Compensation Trends: Independent LBO/Growth Equity
DealmakingintheU.S.buyoutmarketpeakedin20062007beforefallingoacliandstayingatdepressedlevelsin2008and2009.Thelastthreeyearshaveseen
agradualrecovery.Exitshavefollowedasimilartrack,leadingtoariseincarrydistributionsforLBO/GrowthEquitypartnersin2012(seeTableV).
LBO/GrowthEquityfundraisinghaslaggeddealmaking,asitalmostalwaysdoes,peakingin2007and2008,beforefallingoin2009and2010seeTableII.This
year(2012)weshouldseefundraisingbyU.S.buyoutrmscomecloseto$200billion,wellaheadoftheprevioustwoyears,althoughstillshortofthemorethan
$250billionraisedinboth2007and2008.
Asinotherprivateequitymarkets,salariesandbonusesatLBO/GrowthEquityshopstendtorisefastestduringtimeswhenrmsareraisingmoney,rapidly
buildinguptheirassetsundermanagement,andcompetingaggressivelyfortalent.
Indeed,theboominfundraisingthatgeneratesmanagementfees,anddealmakingthatgeneratesdealfees,fueledarapidriseinsalaryandbonuscompensation
forbothpartnerandnonpartnerinvestmentprofessionalsatLBO/GrowthEquityrmsfrom20112012(seeTableV).Ourdatashowsthatmanybuyout
professionalsalsoenjoyedsizeablecarrydistributionsinboth2011and2012.
Hiringalsotendstogohandinhandwithfundraisinganddealmaking,asrmsbulkuptohelpputmoremoneytoworkintransactions.Accordingtooursurvey,
morethanhalfofLBO/GrowthEquityrmsplannedtoaddnonpartnerinvestmentprofessionalstotheirstasin2012,upfrom29percentthatactuallydidin2011
seeTableVI.However,relativelysmallpercentagesarerecruitingatthepartnerlevel,asignthatrmsarentreadytocommitsignicantresourcestoexpansion.

TableV:AllLBO/GrowthEquity,CommonJobTitles,YearoverYearMedianCompensation.

Salary + Bonus + Carry Distribution
BaseSalary($000)
Salary+Bonus($000)
($000)

2012
2011
%Change
2012
2011
%Change
2012
2011
%Change

ManagingGeneralPartner(s)/CEO
550.0
550.0
0%
2000.0
1927.0
4%
3699.0
2377.0
56%
SeniorPartner/SeniorManagingDirector(s)
350.0
300.0
17%
676.0
600.0
13%
846.1
615.0
38%
375.0
330.0
14%
644.6
495.0
30%
1007.0
650.0
55%
Partner/ManagingDirector(s)/PorMolioManager
Principal/VicePresident/Director(s)
200.0
185.0
8%
398.7
295.0
35%
432.0
312.0
38%
SeniorAssociate(s)
150.0
140.0
7%
254.0
210.0
21%
257.8
225.0
15%
Associates(s)
110.0
95.0
16%
193.0
145.0
33%
196.3
145.0
35%

CFO
220.5
400.0
COO

Firm Classification
Non Partners
302.0
600.0
Increase
Partners / M.D.
10%
14%
285.0
437.5
6%
37%
383.8
622.2
35%
6%
285.0
588.4
TableVI:StangChanges2011andProjected2012,InvestmentProPartnersandNonPartners,LBO/GrowthEquity
200.0
350.0
%
Firms
29%
29%
2011
% Change
(Median)
16%
35%
Decrease
%
Firms
16%
61%
2012
% Change
(Median)
5%
13%
%
Firms
10%
10%
2011
% Change
(Median)
24%
13%
No change
%
Firms
0%
3%
2012
% Change
(Median)
N/A
N/A
2011
2012
61%
61%
84%
35%
Key Findings
2011-2012 Compensation Trends: Independent Venture Capital
DynamicsintheU.S.venturecapitalmarketaresomewhatdierentthaninthebuyoutmarket.Theventurecapitalmarketisstillrecoveringfromanastonishing
boomandbustperiodbackinthelate1990sandearly2000s.Sincethentheindustryhasbeenshrinking.Manyventurermsthatgottheirstartatthetailendofthe
boomdidntsurvivetoraiseasubsequentfund,whileothersscaledbacksignicantly.
Meantime,anumberofinstitutionalinvestors,smartingfromlosses,pulledoutofventurecapitalorratchetedbacktheirallocations.Dealmakingandfundraising
remainatfarbelowpeaklevels.Althoughbothhavebeenontheriseoverthelastfewyears(TableII),muchofthefundraisingactivityhasbeenconcentrated
amongahandfulofbrandnamerms.Nevertheless,thishastranslatedtosignicantincreasesinsalaryandbonusforinvestmentprofessionalsatU.S.venture
rmsinoursample(TableVII).
Ahealthyexitmarket,bothforM&AandIPOs,infusedtheventuremarketwithnewlifefrom2010to2012,raisinghopesforanevengreaterpickupinfundraising
inthemonthsahead.Accordingtooursurvey,theturnaroundhasnotyettranslatedintoabountyofcarrydistributionsforthemedianprofessionalineither2011
to2012(TableVII).Asforstang,moreventurermsplannedtohireinvestmentprofessionalsatboththepartnerandnonpartnerlevelin2012,comparedwith
2011.However,atthejuniorlevelthepercentagesaremuchlowerthantheyareforU.S.buyoutrmsinoursurvey(seeTableVIII)
asd
TableVII:AllVentureCapital,CommonJobTitles,YearoverYearMedianCompensation

BaseSalary($000)
2012
2011
1025.0
875.0

Partner/ManagingDirector(s)/PorMolioManager
Salary+Bonus($000)
Salary + Bonus + Carry Distribution

($000)
2012
2011
%Change
%Change
2012
2011
%Change
1050.0
2%
1116.1
1422.0
22%
1575.9
1422.0
11%
750.0
17%
875.0
750.0
17%
875.0
750.0
17%
490.0
450.0
9%
551.3
500.8
10%
553.8
512.5
8%

218.5
215.2
2%
287.1
266.0
8%
287.1
266.0
8%
SeniorAssociate(s)
165.0
141.2
17%
225.0
183.8
22%
228.1
183.8
24%
Associates(s)
110.0
100.0
10%
164.0
120.0
37%
164.0
120.0
37%
CFO
250.0
300.0
17%
310.0
310.0
0%
345.0
310.0
11%
500.0
500.0
0%
525.0
500.0
5%
525.0
500.0
5%


COO
TableVIII:AllVentureCapital,2011StangChangesandProjected2012,InvestmentPros,PartnersandNonPartners

Firm Classification
Partners / M.D.
Non Partners
Increase
Decrease
2011
2012
No change
2011
2012
%
Firms
% Change
(Median)
%
Firms
% Change
(Median)
%
Firms
% Change
(Median)
%
Firms
% Change
(Median)
2011
2012
10%
30%
10%
20%
18%
38%
15%
45%
8%
5%
24%
84%
5%
5%
14%
23%
83%
65%
77%
56%
Scope and Methodology

Sections II - IV: Strategy and Design
SectionsIIIVcomprisethequalitativeorHowsectionofthereport.Wecollectedandanalyzeddataconcerningnancialandoperationsinformation;human
capitalpractices;andthedesignofcompensationplansincludingsalary,bonus/incentiveplans,carriedinterestplans,coinvestmentplans,generalpartner
commitmentandemployeebenets.Althoughthisis2012information,webelieveitcanbehelpfulinplanningfor2013.
SectionsIIIVFirmClassications:
WeclassifyrmsbytypeandbycommiOedcapitaltoallactivefunds.
Altogetherwecreated16samplegroupstocomplementourdiscussionof
rmwidecompensationissues(SectionsIIIVofreport).Thesmallersamples
(ie.LargeVC)correspondtoyourpeergroups;thelargerones(ie.AllFirms)
showcasebroaderindustrytrends.

* LBO/VC/Mezz:CombinesLBO/GrowthEquity/Infrastructure/Distressed/
Turnaround,VC,andMezzaninermsintooneCatchAllcategorywitha
standard20%carriedinterest.ExcludesInstitutionalandothertypesofrms
Large:rmswith$1BillionormoreincommiOedcapital(allactivefunds)
Small/MidSize:rmswithlessthan$1BillionincommiOedcapital(all
activefunds)
AllFirms
LBO/GrowthEquity(excludesInstitutionalrms):
activefunds)
AllFirms
VentureCapital(excludesInstitutionalrms):
activefunds)
AllFirms
Mezzanine(Allrms)
FundofFunds(Allrms)
CorporateVenturing(Allrms)
Infrastructure/Distressed/Turnaround(Allrms)
Secondary/CoInvestment(Allrms)
Institutional(Allrms)
AllFirms(includesallinvestmenttypesasdescribedabove
SampleCharacteristics
Thetablebelowshowsyouthenumberofrmspopulatingeachofthe16
samplegroupsusedinSectionsIIIVofthisreportcoveringrmwide
compensationpractices.Youcanalsoseethemakeupofeachsamplein
termsofassetsundermanagement(commiOedcapital,allactivefunds).
FirmSizeStatistics:

Committed Capital - All Active Funds (Millions)
Firm Classification
LBO/VC/Mezz(Large)
LBO/VC/Mezz(Small/MidSize)
LBO/VC/Mezz(All)
LBO/GrowthEquity(Large)
LBO/GrowthEquity(Small/
MidSize)
LBO/GrowthEquity(All)
VentureCapital(Large)
VentureCapital(Small/Mid
Size)
VentureCapital(All)
Mezzanine
FundofFunds
CorporateVenturing
Infrastructure/Distressed/
Turnaround
Secondary/CoInvestment
Ins\tu\onal
AllFirms*
# Firms
Avg.
25th
50th
75th
34
60
92
18
2,485
353
1,141
2,239
1,059 1,837
100
269
175
610
1,042 1,476
3,102
516
1,279
3,014
19
37
16
363
1,275
2,153
102
300
300
825
1,039 1,837
630
1,453
2,400
27
43
10
9
4
341
1,015
1,350
1,983
249
105
182
56
500
228
223
450
167
750
285
486
1,122
907
2,100
306
6
1
21
131
1,971
1,382
1,554
1,288
339
181
300
200
1,980
700
521
644
3,475
1,400
1,500
1,426
* Includes firms counted in more than one category


Section V - VII: Compensation Data
SectionsVVIIarethequantitativeorHowMuchsectionsofthereport.Wecollectedandanalyzeddataforvariouspositionsonsalaries,bonuses,andcarried
interestdistributions.Italsocoverscarriedinterestasapercentofthefundandasdollarsatworkfrombothmostrecentfundandallactivefunds.Although
thisdatawascollectedin2012,webelieveitisusefulfor2013budgetingpurposes.
ThetablebelowisanexampleoftheexhibitsweprovidetosummarizedatacollectedonPartIIofthesurvey.

SampleTables:PE02.SeniorPartner/SeniorManagingDirector(s)AllPrivateLBO,VCandMezzaninecombined

Section V - VII : Compensation Data (Continued)
LevelsOfCompensation:
Foreachsamplestatisticwetypicallyshowaverage,25thpercentile,medianand75thpercentile.Alwaysbearinmindthattheaveragecouldbeinuencedby
particularlyhighorlowdatapointsinthesample,especiallyifthesamplesizeissmall.Mostrmsthatusecompensationsurveyssetcompensationtargets
betweenthemedianandthe75thpercentile.

FirmWeightedDataversusIncumbentWeightedData:
Compensationreportsbasedonemployeesurveysmayshowdataoneitheranincumbentweightedorarmweightedbasis.Incumbentweightedsamplessimply
includeallemployeesinthesample,evenifasignicantpercentageofthemallworkforthesamerm;theresultsmaythereforebeundulyinuencedbyarmor
twoandwontberepresentativeoftheoverallmarketplace.Wehavecorrectedforthisawbycalculatingthedataonarmweightedbasis.Forexample,assume
thereare10rmsinasurveyandninermshaveoneincumbentonapositionandonermhas10incumbents.Thermwith10incumbentswouldaectover50%
ofthedata.However,ifweaveragethe10incumbentsandtreatthemasone,weeliminatethisissue.

MixofCompensationTypes:
Inouremployeecompensationtablesweshowsalaries;salariesplusbonuses;andsalariesplusbonusespluscarriedinterestdistributions.However,rmsinour
samplesmayviewthemixofthesecompensationcomponentsindierentways,andgivemoreemphasistooneortheother.Venturermstendtopayhighsalaries
andlowbonuses,whilebuyoutrms,withtheirrootsininvestmentbanking,tendtopaylowersalariesandlargerbonuses.Mostrmsseecarriedinterestasthe
mostimportantcompensationcomponentatleastforhigherlevelemployeesasitrewardslongtermpositiveperformanceonbehalfofthermanditsinvestors.
Inlightofthis,wellestablishedrmswhosepartnersalreadyhaveahighnetworthmaywellpayrelativelylowsalariesand/orbonuses.Thisofcoursecanvary
basedontheamountofmanagementandotherfeesthatarereceivedasrevenues.

CarriedInterestPlanAllocation:
Whereapplicable,weshowthreecarriedinterestallocations.Therstisthepercentofthemostrecentfundallocatedtoeachemployeeascarriedinterest,also
referredtoascarriedinterestpoints.Employeestypicallysharethe20pointsofcarryallocatedtotheGP,althoughaportionmaybeallocatedtoaparentcompany,
orheldinreserveforfuturehiresandpromotions.Wealsoshowthecarriedinterestdollarsatworkforthemostrecentfund,whichisthecarriedinterestpoints
assignedanemployeemultipliedbythesizeofthefund.Forexample,apartnerwith1pointofcarryona$100millionfundhas$1millionatworkinthatfundin
otherwords,thedollarsatworkthatcanresultinrealizedinvestmentgains.Wealsoshowanestimateofdollarsatworkforallactivefunds.


Section V : Compensation Data (Continued)
SectionV.FirmClassication:
ForouranalysisofemployeecompensationinSectionVofthisreportwecreated
24samples,describedbelow.Institutionalrms(groupssponsoredbybanksor
otherlargeparents)areincludedinthesesamplesunlessotherwisenoted.
LBO/VC/Mezz:CombinesprivateLBO/GrowthEquity/Infrastructure/
Distressed/Turnaround,VentureCapital,andMezzaninermsintoone
catchallcategory.ExcludesInstitutionalandothertypesofrms.

Large:$1.0Billionormore
MidSize:$500$999Million
Small:Lessthan$500Million
AllFirms
LBO/GrowthEquity(excludesInstitutionalrms)
AllFirms
VentureCapital(excludesInstitutionalrms)
AllFirms
Mezzanine
Mid/LargeSized:$500Millionormore
AllFirms
FundofFunds
MidSize:$500$999M
AllFirms
AllCorporateVenturing
AllInfrastructure/Distressed/Turnaround/RealEstate
Institutional
Small/MidSize:Lessthan$1.0Billion
AllFirms
AllFirms
StudiedPositions:
Jobdescriptionsforallthepositionlistedbelowareincludedin
SectionVIofthisreport.

InvestmentProfessionals
Partner/ManagingDirector(s)/PortfolioManager
SeniorAssociate(s)
Associate(s)
SeniorAnalyst(s)
Analyst(s)
VenturePartner/OperationsPartner
Administrative/Support
ChiefOperatingOcer(COO)
Administrative/OceManager
ExecutiveAssistant
Secretary/Administrator
Receptionist
Finance
ChiefFinancialOcer(CFO)
Controller
.
AssistantController
SeniorAccountant
JuniorAccountant
FundAccountant
MarketingandInvestorRelations
ChiefMarketingOcer/HeadofMarketing
MarketingManager
InvestorRelationsDirector/HeadofInvestorRelations
InvestorRelationsManager
Legal,HumanResourcesandInformationTechnology
ChiefLegalCounsel
Compliance&RiskOcer
ChiefHumanResources/TalentOcer
HumanResourcesManager
ChiefTechnologyOcer
InformationTechnologyManager

Scope & Methodology

Partial Participant List

GreatHillPartners,LLC
3i
PalladiumEquityPartners
GreenspringAssociates
5AMVentures
PangaeaVentures
GrotechVentures
AceroCapital
PappasVentures
GryphonVenturePartners
AgstarFinancial
PartnersGroup
HealthEvolutionPartners
AmericanInfrastructureMLPFunds
PentaMezzanineFund
AmpersandCapitalPartners
PermalCapitalManagement
H.I.G.Capital
HummerWinbladVenturePartners
AmericanInfrastructureMLPFunds
PintoAmericaGrowthFund
IndustrialGrowthPartners
ArthurVenGrowthFundLLC
Prudential
InnovaMemphis
AscensionHealthVentures
QICBioVentures
InsightEquity
AtlasVenture
RiversideCompanyRCAF
InstitutionalVenturePartners
AvenueCapitalAsiaFund
RiversideCompanyRMCF
BaOeryVentures
RiversideCompanyREF
InternetCapitalGroup
JAFCOVentures
BBVA
RiversideCompanyRAF
JMIEQUITY
BlackRiverAssetManagement
RiverVestVenturePartners
KRGCapitalManagement,LP
BluePointCapitalPartners
RobertBoschVentureCapitalGmbH
LamplighterFinancialLLC
BlueWolfCapitalPartners
RobertW.Baird&Co.
CapStreetGroup(The)
SaybrookCapital
LBPLLC
LeedsEquityPartners
CelticTherapeuticsManagementLLC
SplitRockPartners
LifeSciencesGreenhouseofCentralPA
CharlesRiverVentures,LLC
SterlingGroupLP
LindenCapitalPartners
CitiInfrastructureInvestors
SterlingStamosCapitalManagement
LongitudeCapital
ClairvestGroupInc.
StrategicTimberInc.
CMEACapital
SVBFinancialGroup
LovellMinnickPartnersLLC
MadronaVentureGroup
DCM
SVLifeSciencesAdvisors
ManzanitaCapital
DRICapital
SWMFLifeSciencesFund
MarlinEquityPartners
ElementPartners
TechnologyCrossoverVentures
ePlanetCapital
ThirdRockVentures
MassCECInvestments
MekongCapital
FalconAssociates
TLVentures
MeritageFunds
FNBCapitalCorp
TrueBridgeCapitalPartners
Nike
FocusVentures
TwinBridgeCapital
NorthernLightVentureCapital
ForbesPrivateCapitalGroup
TZPGroup
ForumSynergies
VantagePointCapitalPartners
NorthstarCapitalLLC
NorwestEquityPartners
FrazierManagement
VolvoTechnologyTransfer
NorwestMezzaninePartners
GenevaGlenCapital
VoyagerCapital
NorwestVenturePartners
GMBMezzanineCapital
WaterStreetHealthcarePartners
OReillyAlphaTechnologyVentures

YukonPartners

PaladinCapitalGroup


About The Authors
R.MichaelHolt(Mike)
Mike.Holt@holtprivateequitycompensation.com
(239)5945530
JamesWaOsandNigelMills
James.waOs@mmk.com
+442072837200
DavidM.Toll
David.toll@thomsonreuters.com
(646)2236784
Holt Private Equity Consultants specializes in

assisting clients with private equity/venture
capital organizational and human resources
issues, which includes compensation and
performance management. The Holt rm has
designed numerous carried interest and co
investment plans, as well as annual incentive
plans. It also has consulted with various real
estate and investment/funds management
organizations
MM & K is a leading independent remuneration

consultancy specializing in the planning, design and
implementationofpayandrewardstrategies.
Founded in 1973, MM & K is based in the City of
Londonandmainlyfocusesonexecutiveandemployee
reward strategies and structures. In recent years we
haveaddedotherservicestosupportourclientsneeds
throughtheacquisitionsofIndependentRemuneration
Solutionsandthelaunchofhighertalent,ourspecialist
recruiterofHRandrewardprofessionals.
OvertheyearsMM&Khasbuiltupahugeamountof
knowledge and experience in the private equity and
venture capital arena. This year will be the sixteenth
consecutiveyearthatwehaveconductedapaysurvey
intheUK/EuropeanPrivateEquitysector.Inaddition
to the knowledge that we have gathered based on our
PrivateEquitySurveyswehavealsoadvisedmorethan
40 dierent PE houses on their own pay and reward
strategiesoverthelasttenyears.
We put into place strategies that ensure client
remuneration programs are integrated with business
goals. Experience shows us that when a business
achieves this integration, the overall competitiveness
andvalueofthebusinessincreasessubstantially.
Our consultants expertise areas include reward
strategies, HR, share schemes, law, accountancy, tax,
corporate governance, business management and
statistics.
MM&Kisownedbyitsemployeesanddirectors.
MM & K Limited is authorized and regulated by the
FinancialServicesAuthority.
ThomsonReutersistheleadingsourceof
intelligentinformationfortheworldsbusinesses
andprofessionals,providingcustomerswith
competitiveadvantage.Intelligentinformationisa
uniquesynthesisofhumanintelligence,industry
expertiseandinnovativetechnologythatprovides
decisionmakerswiththeknowledgetoact,
enablingthemtomakebeOerdecisionsfaster.
Prior to founding Holt Private Equity

Consultantsin2001,MikeHoltwasaconsultant
with William M. Mercer, KPMG, and Hay
Management Consultants, where among other
things he conducted private equity/venture
capital compensation surveys. Previously, he
was head of compensation and employee
benets at Norwest (now Wells Fargo) and for
Pillsbury(consumerproducts).
Mike received his undergraduate degree at the
UniversityofNotreDameandaMastersDegree
in Business Administration from Roosevelt
University.HealsoservedasaLieutenantinthe
U.S.Army.

Throughover55,000employeesacrossmorethan
100countries,wedeliverthismusthaveinsightto
thenancial,legal,taxandaccounting,
healthcare,scienceandmediamarkets,powered
bytheworldsmosttrustednewsorganization.
Forthepast20years,theDealsGroupatThomson
Reutershasbeensupplyingvaluabledata,news
andanalysistoprivateequityandventurecapital
professionalsaroundtheworld.Itsagship
productsincludethebiweeklyBuyouts
Magazine,themonthlyVentureCapitalJournal,
thedailypeHUBWireandtheInvestment
BenchmarksReportseriesofmarketintelligent
studiesofindustryreturns,partnershiptermsand
conditionsandemployeecompensation.
PE/vc Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
II. Financial & Operational Data
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)

Committed Capital and Cost of Investments
By Firm Type and Size
Part I of the survey questionnaire used to generate this report covered nancial, operational, human resources and other rmwide maOers, and we cover the
resultsinSectionsIIIIIofthereport.PartIalsocoveredthedesignofsalary,bonus,carriedinterestandcoinvestmentplans,whichwecoverinSectionIVofthe
report.ThetablesstartingbelowletyouevaluatethesizeofthermsinoursamplecommiOedcapitalforallactivefundsandforthemostrecentfundaswellas
thecostofinvestments.SomesourcesusethetermAssetsUnderManagement(AUM)ratherthanCommiOedCapitalwhenmeasuringsize.Thisyearweasked
forboth.70%ofrmsdonotdistinguishbetweenthetwo;28%ofrmsshowAUMaslowerthancommiOedcapital;and2%showAUMashigher.
There are 16 type/size of rm samples used in Sections IIIV of this report. Note that the category LBO/VC/Mezz also includes Infrastructure and Distressed/
Turnaroundrms.ThatcategoryaswellastheseparateLBO/GrowthEquitycategoryandtheseparateVCcategoryincludesprivate/standalonermsbutdoesnot
includeInstitutionalrmsnorSecondary,FundofFunds,CoInvestmentorCorporateVenturingrms.
FirmClassica\on
Commi^edCapital(Millions)
AllAc\veFunds
CostofInvestments(Millions)
MostRecentFund
#Firms
Avg.
25th
50th
75th
#Firms
Avg.
25th
50th
75th
#Firms
Avg.
25th
50th
75th
LBO/VC/Mezz(Large)
34
2,485
1,059
1,837
3,102
34
920
424
650
862
22
1,017
614
751
1,064
58
353
100
269
516
56
193
57
118
300
46
210
63
165
300
LBO/VC/Mezz(All)
92
1,141
175
610
1,279
90
471
100
300
520
68
471
100
273
614
18
2,239
1,042
1,476
3,014
18
934
613
763
1,057
13
883
508
740
1,035
LBO/GrowthEquity(Small/MidSize)
19
363
102
300
630
18
251
101
179
426
15
222
100
115
382
37
1,275
300
825
1,453
36
592
180
469
756
28
529
112
449
655
16
2,153
1,039
1,837
2,400
15
644
331
450
683
10
1,137
680
750
1,317
VentureCapital(Small/MidSize)
27
341
105
223
486
27
149
45
102
240
21
179
47
193
252
VentureCapital(All)
43
1,015
182
450
1,122
42
326
78
210
395
31
488
102
227
580
Mezzanine
10
1,350
56
167
907
10
680
51
149
446
238
38
65
344
FundofFunds
1,983
500
750
2,100
325
175
300
344
768
355
425
838
CorporateVenturing
249
228
285
306
175
100
150
225
199
149
207
254
1,971
339
1,980
3,475
1,355
100
801
2,625
3,300
3,300
3,300
3,300
1,382
181
700
1,400
71
638
111
400
750
53
477
100
400
590
Ins\tu\onal
21
1,554
300
521
1,500
20
767
138
300
763
12
398
170
300
471
AllFirms*
131
1,288
200
644
1,426
127
543
100
300
562
88
504
100
300
595
* Includes firms counted in more than one category


Number of Funds Managed and Number of Portfolio Companies
Largermsinoursamplestendtomanage4to6fundswhereassmalltomidsizermsmanage2to3funds.Slightlymorethanhalfoffundsmanagedbyrmsin
oursamplesarecurrentlybeinginvested,whiletherestarefullyinvestedbutnotwoundup.Somefunds,mostlyonessponsoredbyinstitutions,haverollingor
evergreen funds. LBO/Growth Equity rms tend to have fewer portfolio companies than VC rms but they also have much larger investments per portfolio
company.

Ownership Structure
By Firm Type
Mostofthesurveyparticipantsareprivate/standalonerms.However,ameaningfulsampleof30%areInstitutionalorganizations.
AmongInstitutionalorganizations,mostofthecapitalabout71% isprovidedbytheparentcompany

Fees
ManagementfeesarepaidbyLimitedPartners(LPs)toGeneralPartners(GPs).Typicallytheyareabout1.5%2.5%ofafundperyear.Largerrmshavethelower
percentages but due to size generate more dollars of fees. The tables show the percent of the most recent fund and the dollars from all active funds. Fees are
somewhatloweraftertheinvestmentperiod(typicallythreeyears)ismostlyover.
TherealsoareOtherfeesthatarepaidbyportfoliocompanies.Examplesaretransactionfees;monitoring/advisoryfees;anddividends.Historically,GPskeptall
or most of these fees. Now it is closer to a 5050 split with the LPs. There is a trend to an 80% LP 20% GP split (which is in line with the split of realized
investmentgainsfromexitsofportfoliocompanies).Alaterslideidentiesthecurrentactualsplits.

Fee Ratios
ThepreviouspagecommentsonthesplitofOtherfeesbetweenGPsandLPs,whichshownbelowisaboutonethirdtoGPsandtwothirdstoLPs.
Totalmanagementfeesaveraged1.4%ofallactivefundsinourallrmssample,3.3%ofthemostrecentfund;and4.6%ofthecurrentinvestmentsinportfolio
companies.MostLPslooktothefeesfromallactivefunds.However,itprovidesadierentperspectivewhenotherratiosarereviewed.Thedatashowsthatfeesare
beingcollectedonoldfundsandarequitehighasapercentofactualinvestedcapital.
Median"OtherFees"
Ra0oofGPFeestoLPFees
0%
LBO/VC/Mezz
20%
40%
29%
60%
80%
100%
71%
LBO/GrowthEquity
33%
67%
VentureCapital
34%
67%
Mezzanine 10%
90%
GP
LP

Fee Splits
By Firm Type
ParticipantsinthesurveyreportedthatLimitedPartnersreceive68%oftransactionfees;69%ofmonitoringfees78%ofDirectorsfees;and98%ofDividends.As
statedinanearlierslide,theGeneralPartner/LimitedPartnersplithaschangedconsiderablyinrecentyears.
PE/vc Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
III. Human Capital
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)
Human Capital
Number of Employees Per Employee Group
Itisobviousthatlargermshavemoreemployeesthansmallrms.WhatislessobviousisthatVCrms,allotherthingsbeingequal,normallyhavemorepartners
thanLBOrms,butLBOrmshavemorenonpartnerinvestmentprofessionalsthanVCrms.ThismakessensebecauseVCrmshavemoreportfoliocompanies
(andsmallersizeportfoliocompanies)thanLBOrmsandthusrequiresmorepartnertime.Conversely,LBOrmshavefewerandlargersizeportfoliocompanies
thatrequiremoreanalysis,moreduediligenceandmoremonitoringwhicharetasksthatcanbedonebelowthepartnerlevel.
Human Capital
Staffing Changes 2010/2011 Investment Professionals
By Firm Type
BasedonstangforecastsbyrmsinoursurveymostPEandVCrmsaremaintainingtheirinvestmentteamsatcurrentlevels.Amongpartners,19%ofallsample
rmsincreasedstangin2011(versus11%in2010and19%projectedforthisyear);and6%decreased(versus9%in2010andonly4%projectedin2012).Among
nonpartnerinvestmentprofessionals,33%ofrmsincreasedstangin2011(versus35%in2010and48%projecteddoingsoin2012).Meanwhile,only6%ofall
rmsinoursampledecreasednonpartnerinvestmentprofessionalstangin2011(versus12%in2010andonly3%projectedfor2012).

Human Capital
Staffing Changes 2010/2011 Administrative / Support Staff
By Firm Type
AmongnonPartnerAdministrative/SupportSta,27%increasedstain2011(versus29%in2010and24%projectedin2012);and10%decreasedsta(versus11%
in2010andonly1%projectedin2012).
Human Capital
Investment Manager Ratios
AveragecommiOedcapitalperpartneris$235millioninoursampleofLBO/GrowthEquityrmsand$206millionperpartnerinoursampleofVCrms.Whenwe
dothecalculationforallinvestmentprofessionals(includingPartnerlevel),theamountfallsto$81millionperprofessionalinLBOrmsand$108millionper
professionalinVCrms.

Averagemanagementfeesperpartnerare$3.1millioninLBO/GrowthEquityrmsand$2.5millioninVCrms.Forallinvestmentprofessionstheratiofallsto$1.1
millioninLBO/GrowthEquityrmsand$1.3millioninVCrms.
Theaverageportfoliocompaniestopartnerratiois4.0inoursampleofLBO/GrowthEquityrmsand8.2inVCrms.Theportfoliocompaniestoinvestment
professionalratiois1.4inLBO/GrowthEquityrmsand4.3inVCrms.

Committed Capital (All Active Funds) Per Investment Manager Millions
Firm
Classification
Partner / M.D.
Management Fees Per Investment Manager - Millions
All Investment Professionals
Partner / M.D.
Portfolio Companies Per Investment Manager

Partner / M.D.
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
LBO/VC/Mezz(Large)

318.1
211.7
282.6
302.7
131.2
94.1
126.7
147.7
3.4
2.0
2.7
3.1
1.4
0.9
1.2
1.5
6.8
3.7
6.5
7.3
2.8
1.6
2.9
3.5
103.7
50.0
89.7
103.2
46.5
33.3
43.4
51.6
2.0
1.0
1.4
1.8
0.9
0.7
0.7
0.9
5.2
3.5
4.3
5.4
2.4
2.3
2.1
2.7
LBO/VC/Mezz(All)
228.7
87.3
152.4
213.2
96.8
43.6
61.0
89.8
2.6
1.5
2.0
2.5
1.1
0.7
0.8
1.1
6.2
5.4
5.1
6.9
2.6
2.7
2.1
2.9
286.1
208.5
246.0
301.4
97.8
80.2
79.8
103.9
3.7
2.8
2.9
3.0
1.3
1.1
1.0
1.0
4.3
2.6
3.2
4.2
1.5
1.0
1.0
1.4
LBO/GrowthEquity(Small/MidSize)

111.1
51.0
100.0
157.5
40.5
25.5
33.3
52.5
2.2
1.0
1.4
2.4
0.8
0.5
0.5
0.8
2.8
2.5
2.3
3.0
1.0
1.3
0.8
1.0

235.4
100.0
206.3
232.4
81.1
33.3
63.5
72.6
3.1
1.1
2.5
2.8
1.1
0.4
0.8
0.9
4.0
2.3
3.1
3.6
1.4
0.8
1.0
1.1
280.0
173.2
245.0
234.2
142.3
96.7
147.0
120.0
3.0
1.6
2.2
2.9
1.5
0.9
1.3
1.5
9.3
7.2
9.3
8.0
4.7
4.0
5.6
4.1
VentureCapital(Small/MidSize)
103.4
105.0
74.2
107.9
56.1
35.0
37.1
64.7
2.1
2.3
1.4
1.9
1.1
0.8
0.7
1.1
6.8
12.0
6.8
7.2
3.7
4.0
3.4
4.3

VentureCapital(All)
205.9
91.0
112.5
160.3
107.5
60.7
64.3
93.5
2.5
1.5
2.0
2.1
1.3
1.0
1.1
1.3
8.2
6.5
8.0
7.1
4.3
4.3
4.6
4.2
Mezzanine

400.1
28.1
55.6
181.3
211.0
18.8
30.3
103.6
1.3
0.7
1.3
1.0
0.7
0.4
0.7
0.5
6.6
4.5
8.0
5.8
3.5
3.0
4.4
3.3
FundofFunds
482.4
250.0
187.5
525.0
153.9
100.0
68.2
175.0
3.5
1.2
1.2
3.1
1.1
0.5
0.4
1.0
5.1
5.0
5.5
5.5
1.6
2.0
2.0
1.8
CorporateVenturing

99.5
227.5
142.5
87.5
76.5
91.0
95.0
81.7
2.3
4.9
2.9
1.9
1.8
2.0
1.9
1.8
6.9
6.5
6.0
7.3
5.3
2.6
4.0
6.8
454.8
169.5
792.1
661.9
142.5
75.3
304.7
302.2
4.8
3.2
3.0
5.5
1.5
1.4
1.2
2.5
6.9
4.5
5.2
4.6
2.2
2.0
2.0
2.1

275.0
90.3
175.0
233.3
123.2
60.2
77.8
93.3
2.8
1.0
2.0
2.3
1.1
0.7
0.9
0.9
5.0
3.5
3.3
4.7
2.0
2.3
1.4
1.9
Institutional
458.4
300.0
221.7
300.0
276.5
300.0
104.2
214.3
2.0
2.0
1.9
1.9
1.2
2.0
0.9
1.4
7.9
10.8
10.4
7.9
4.8
10.8
4.9
5.6
AllFirms
281.5
100.0
161.0
237.7
121.1
66.7
80.5
109.7
2.7
1.4
1.9
2.3
1.2
0.9
0.9
1.1
6.5
5.0
5.5
6.8
2.8
3.3
2.8
3.1


Human Capital
Human Capital Policies, Experience to Partner, and MBA Hiring/Compensation Practices
The average and median years from an MBA degree to partner/managing
directoriseight.
Mostrmshaveaformalperformanceappraisalsystemandabout
onehalfhaveaformalcompensationpolicy.
HumanCapitalPolicies
FormalAppraisalSystem
FormalCompensa\onPolicy
82%
50%
Yes
18%
50%
No
The median annual starting salary for an MBA for all rms in our
survey is $110, 000 and the median rst year bonus (annualized) is
$60,000.Largerrms,becausetheygeneratemoreinfees,tendtopay
morethansmallandmidsizerms.
Human Capital
Payroll Cost As % of GP Fees/Revenues
ThemedianpayrollasapercentofGPfees/revenuesis60%.Itishigherinsmallerrms(about62%)thaninlargerrms(about55%).ItisaboutthesameinVC
rms(61%)andLBOrms(62%).
PE/vc Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
IV. Compensation Strategy
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)
Types of Compensation Investment Professionals
By Firm Type
Amongsurveyparticipants,69%haveacarriedinterestplanforPartners(81%ofLBOrmsand70%ofVentureCapitalrmsandonly52%ofInstitutionalrms).
21%haveacoinvestmentplan.ManyoftheInstitutionalrmshavevarioustypesofstockoptions.
Aboutonethirdofrmshaveasalary/partnerdraweitherwithasalaryorwithoutasalary.79%ofLBOrmsand72%ofVCrmsreporthavinganannualbonus
or incentive plan for partners (this includes residual fee bonuses). Nonpartner investment professionals have bonus plans in 97% of LBO rms and 81% of VC
rms.Wewouldexpectcloserto100%butareshowingthedatathatwasreported.

Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Investment Professionals (Partner)

Base Salary
Salary
Draw /
Partner
Draw
72%
34%
62%
76%
35%
65%
70%
33%
70%
67%
Annual
Residual
Incentive/B
Fees Bonus
onus
Carried
Interest
Plans
CoInvestment
Plans
Phantom
Stock
Performance
Shares /
Units
Stock
Options
16%
76%
24%
1%
4%
3%
3%
1%
14%
81%
30%
3%
5%
0%
3%
0%
56%
16%
70%
12%
0%
2%
5%
2%
2%
30%
70%
30%
80%
50%
0%
10%
10%
10%
0%
33%
56%
22%
67%
22%
11%
11%
11%
11%
22%
100%
0%
100%
0%
25%
0%
0%
0%
25%
50%
0%
67%
20%
50%
0%
67%
20%
0%
0%
0%
0%
0%
100%
0%
100%
0%
100%
0%
0%
0%
0%
0%
100%
76%
10%
81%
19%
52%
14%
5%
10%
14%
19%
5%
73%
28%
65%
16%
69%
21%
2%
5%
6%
8%
4%
92%
Salary
Draw /
Partner
0%
95%
0%
92%
91%
0%
90%
0%
89%
Base Salary
Annual
Residual
Incentive/B
Fees Bonus
onus
86%
4%
Investment Professionals (Non-Partner)

Carried
CoPerformance
Phantom
Interest Investment
Shares /
Stock
Plans
Plans
Units
57%
25%
3%
2%
5%
76%
43%
3%
0%
81%
0%
80%
20%
44%
7%
5%
50%
30%
0%
0%
56%
0%
67%
22%
100%
0%
100%
0%
100%
0%
25%
100%
0%
67%
100%
0%
100%
0%
100%
95%
0%
81%
10%
93%
0%
84%
5%
Stock
Options
3%
Stock
Restricted
Appreciation
Stock
Rights
Stock
Restricted
Appreciation
Stock
Rights
1%
1%
3%
0%
0%
5%
2%
2%
2%
0%
10%
0%
0%
11%
11%
11%
11%
11%
0%
0%
0%
0%
0%
0%
40%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
33%
5%
5%
0%
10%
5%
5%
54%
21%
4%
2%
5%
2%
2%
Types of Compensation Administrative / Support Staff
By Firm Type
Administrative/SupportStaatthepartnerlevelhaveasalaryratherthanasalarydraw.29%ofrmsprovidecarriedinterestplansand8%providecoinvestment
planstotheseemployees.
Amongnonpartneradministrative/supportsta,25%ofrmsprovideacarriedinterestplanand8%provideacoinvestmentplan.
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
100%
100%
3%
30%
3%
35%
16%
3%
0%
0%
0%
0%
100%
0%
37%
2%
40%
5%
0%
0%
2%
2%
2%
100%
0%
20%
0%
10%
0%
0%
0%
0%
0%
0%
78%
25%
44%
0%
0%
22%
11%
11%
11%
11%
11%
75%
25%
50%
0%
0%
0%
0%
0%
0%
0%
0%
100%
0%
67%
0%
50%
0%
0%
0%
0%
0%
0%
100%
0%
100%
0%
0%
0%
0%
0%
0%
0%
0%
100%
0%
43%
0%
19%
5%
5%
0%
5%
5%
5%
97%
3%
37%
2%
29%
8%
2%
1%
2%
2%
2%
Base Salary
Annual
Residual
Incentive/B
Fees Bonus
onus
33%
2%
Administrative / Support Staff (Partner)

Carried
CoPerformance
Phantom
Interest Investment
Shares /
Stock
Plans
Plans
Units
35%
9%
1%
0%
Salary
Draw /
Partner
1%
Administrative / Support Staff (Non-Partner)

Annual
Carried
CoPerformance
Residual
Phantom
Incentive/B
Interest Investment
Shares /
Fees Bonus
Stock
onus
Plans
Plans
Units
75%
3%
30%
10%
2%
3%
Stock
Options
1%
Stock
Restricted
Appreciation
Stock
Rights
1%
1%
100%
Salary
Draw /
Partner
0%
100%
0%
81%
3%
35%
16%
0%
0%
0%
0%
0%
100%
0%
74%
5%
23%
0%
5%
7%
2%
2%
2%
100%
0%
50%
0%
40%
30%
0%
0%
0%
0%
0%
100%
0%
78%
0%
33%
22%
11%
11%
11%
11%
11%
100%
0%
50%
0%
0%
0%
0%
0%
0%
0%
0%
100%
0%
83%
0%
0%
0%
0%
0%
0%
0%
0%
100%
0%
100%
0%
0%
0%
0%
0%
0%
0%
0%
100%
0%
52%
0%
10%
0%
0%
0%
5%
5%
5%
100%
0%
71%
2%
25%
8%
2%
3%
2%
2%
2%
Base Salary
Stock
Options
1%
Stock
Restricted
Appreciation
Stock
Rights
1%
1%
Base Salary Level Changes Investment Professionals
By Firm Type
32%ofrmsincreasedpartnerlevelsalariesin2011(versus30%in2010andaprojected35%in2012.Themedianincreaseis5%forLBOrmsand15%inVC
rms.
Amongnonpartnerinvestmentprofessionals,63%ofrmsincreasedsalariesin2011(versus65%in2010and52%projectedin2012).Themedianincreasewas10%
forVentureCapitalrmsand10%forLBOrms.Veryfewdecreasesinsalarywerereportedfortheseemployees.
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Salary Changes in 2011 and Projected for 2012 - Investment Professionals (Partners/M.D.)
Increase
Decrease
No Change
2011
2012
2011
2012
2011
2012
% Firms
% Change
% Firms
% Change
% Firms
% Change
% Firms
% Change
26%
19%
28%
50%
88%
67%
0%
100%
35%
32%
6%
5%
15%
7%
4%
9%
N/A
4%
10%
5%
31%
34%
24%
43%
83%
67%
17%
100%
33%
35%
5%
5%
6%
5%
4%
4%
N/A
4%
5%
5%
5%
3%
5%
13%
0%
0%
0%
0%
0%
3%
17%
17%
16%
17%
N/A
N/A
N/A
N/A
N/A
17%
1%
0%
3%
0%
0%
0%
0%
0%
0%
1%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
69%
78%
68%
38%
13%
33%
100%
0%
65%
64%
68%
66%
73%
57%
17%
33%
83%
0%
67%
64%
Salary Changes in 2011 and Projected for 2012 - Investment Professionals (Non-Partner/Non-M.D.)
Increase
Decrease
No Change
2011
2012
2011
2012
2011
2012
% Firms
% Change
% Firms
% Change
% Firms
% Change
% Firms
% Change
64%
56%
59%
88%
100%
67%
50%
100%
56%
63%
8%
10%
10%
5%
3%
5%
9%
4%
8%
7%
52%
61%
42%
43%
86%
67%
67%
0%
44%
52%
5%
5%
5%
5%
4%
3%
8%
N/A
8%
5%
3%
0%
5%
0%
0%
0%
0%
0%
0%
2%
21%
N/A
21%
N/A
N/A
N/A
N/A
N/A
N/A
21%
4%
3%
5%
0%
14%
0%
0%
100%
6%
5%
10%
4%
15%
N/A
4%
N/A
N/A
4%
5%
4%
33%
44%
35%
13%
0%
33%
50%
0%
44%
35%
44%
36%
53%
57%
0%
33%
33%
0%
50%
42%
Bonus Level Changes Investment Professionals
Partnerlevelemployeessawincreasesinbonusesin22%ofrmsfor2011(versus31%in2010andaprojected30%in2012).Themedianincreasewas8%.
Conversely,13%ofrmsdecreasedbonusamounts(comparedwith15%in2010andaprojected7%in2012.
Nonpartnerinvestmentprofessionalshadincreasesinbonusesin41%ofrmsfor2011(versus44%in2010andaprojected37%in20112.Themedianincreasewas
10%.Only7%ofthesermsdecreasedbonusamounts(comparedto9%in2010andaprojected4%in2012).
Base Salary Changes Administrative / Support Staff
By Firm Type
Amongadministrative/supportstaemployees,44%ofrmsincreasedsalariesforpartnersand67%increasedsalariesfornonpartners.Themedianincreasewas
5%forpartnersand4%fornonpartners.Decreasesinsalarywereveryrare.
Bonus Level Changes Administrative / Support Staff
By Firm Type
20%ofrmsincreasedbonusesforpartnerleveladministrative/supportstain2011and18%decreasedbonuses.Themedianincreasewas10%
29%ofrmsincreasedbonuslevelsfor(nonpartner)administrative/supportstain2011,while7%ofrmsdecreasedbonuses.Themedianincreasewas9%.
Annual Bonus Plans: Bonus Determination Factors
By Firm Type
Forinvestmentprofessionals,24%ofrmsreportbonusesareentirelydiscretionary.Othersreportthatbonusesaresomewhatdiscretionarybutarebasedon
individualorrmorteamperformance.29%haveformulaicgoals/objectivesand5%donothaveabonusplan.(9%ofVCrmshavenobonusplan.)
Fornoninvestmentprofessionals,21%ofrmsreportbonusesareentirelydiscretionary.Otherrmsreportbonusesaresomewhatdiscretionarybutarebasedon
individualorrmorteamperformance.23%haveformulaicgoals/objectivesand6%donothaveabonusplan.
Annual Bonus Plans: When are Bonuses Distributed and Who Makes Bonus Decisions
By Firm Type
Thetimingforpaymentofbonusesvariesamongrms.28%paybeforenancialyearend,40%duringthersttwomonthsafternancialyearend,and13%inthe
thirdorfourthmonth.20%ofrmsprovideabonusuponexitofaportfoliocompany,and6%to8%foraclosingorrecapitalization.
Ifbonusesarediscretionary,themost
commonapproachtodeterminingbonus
amountsisbythemanagingpartners.
Carried Interest Plans (CIP): As % of Most Recent Fund and Carried Interest Dollars at Work
TraditionalCarriedInterestplansforLBO,VC,andMezzaninermsrepresent20%
of the CommiOed Capital. Limited Partners (LPs) ultimately are (or should be)
returned100%oftheircapitalbutonlyreceive80%ofanyrealizedgainsfromexits
of portfolio companies. The remaining 20% of realized gains is awarded to the
General Partner (GP) /private equity rm. The LPs have allowed 20% of their
capitaltocarrytheGPs.
Carried Interest is not always 20%. Some rms have had a 25% or 30% carried
interestplan.Notethatthemediancarriedinterestis5%forFundofFundsand10%
forsecondaryandcoinvestmentorganizations;
The carried interest percent is worthy of note, but more

importantarethedollarsatworkthatarederivedfromthe
percent.
For example, assume there are three funds each with $800
million of commiOed capital. One has carried interest of 25%,
oneat20%andoneat15%.Thedollarsatworkwouldbe$200
million(25%);$160million(20%);and$120million(15%).
As described above, the dollars at work are returned to the
LPs, but any realized gains from those dollars are paid/
distributedtotheGP.

Carried Interest Plans (CIP): Allocation
By Firm Type
Partners/ManagingDirectorsareallocatedmostofthecarriedinterest.Nonpartners,whichdidnotreceivecarriedinterestuntilthelate1990s,nowareallocated
13%ofthecarry(16%inLBOrmsand12%inVCrms).
AmongInstitutionalrms,theParentCompanyreceives34%ofthecarry.
46%ofrmsallocatecarriedinteresttoemployeesonapurely
discretionarybasis.
Anadditional21%alsoarediscretionarybutbasedonarange
determined by grade level. 13% allocate based on a formula,
and16%basedonthegradelevel.
Carried Interest Plans (CIP) : Distribution Requirements and Hurdle Rates
By Firm Type
72% of rms are required to return all capital (contributed or
commiOed)fromafundbeforeemployees canreceiveanycarried
interestdistributions.
Asurprising24%ofrmsareonadealbydealbasisratherthana
fundbasis.ThisismostcommonamongLBOrmsat50%.
About onehalf of rms (68% LBO, 33% VC) have a hurdle rate to
surpass before any carried interest distributions are made. Among
theserms,78%mustmeetapreferredreturnthattypicallyis8%
annualized.After the 8% is met, the GPs receive 100% (most rms)
or80% (afewrms)or50%(veryfewrms)ofthenexttranche(or
tier or layer) of realized gains as a catchup until the normal
carriedinterestpercentismet.
16%ofthesermsmustmeetaNetAssetValuetest(typically120%)
beforecarriedinterestdistributionsaremade.
7% of rms with a hurdle rate have a minimum return which
averages8%(higherthanwedexpect).Thereisnocatchup.

Carried Interest Plans (CIP): Vesting
By Firm Type
Normally, if there are carried interest distributions, plan participants
thatremainemployedwillreceive100%oftheamountdue.
Vesting of carried interest protects an employee in the event of
termination.Theterminatedemployeewillreceivethepercentvested
attimeoftermination.
Vestingaccruesonanannualbasisin64%ofrmsandonamonthly
basis in 25% of rms. (VC rms are 48% monthly and only 36%
annual.)
11%ofrmshavenovestingterminatedemployeeswillnotreceive
anycarriedinterestdistributions.
More than onehalf of rms base vesting for partners on

the time from inception of each new fund (i.e., vesting
startsoverforeachnewfund).
About oneforth of rms base vesting on the time since
dateofemployment.
Carried Interest Plans (CIP): Vesting (Continued)
By Firm Type
VestingamongInstitutionalrmstendstobeprorataoverveyears.LBOrmstypicallyvestoversevenyearsandVCrmsovertenyears.
The normal vesting schedule may be accelerated (normally to 100%) due to certain events. 38% of rms accelerate for death; 27% for disability; and 6% due to
retirement.
Carried Interest Plans (CIP): Treatment of Leavers
By Firm Type
Otherterminationeventscausethepercentvestedtobe
forfeited. 59% of rms forfeit vesting for termination
duetocauseand46%ifanemployeeterminatestojoin
a competitor. 33% of rms responded that they forfeit
for termination not joining a competitor and 24% for
involuntaryterminationnotforcause.
The percent of carried interest that is forfeited usually

is either allocated to other participants or is placed in
reserveforfutureallocation.
Carried Interest Plans (CIP): Treatment of New Employees and Timing Of Distributions
By Firm Type
If there is a new hire or a promotion where the employee is
awarded some carried interest, 38% of rms dilute the carried
interest of other participants while 41% have carried interest
reservesfromwhichtheycanallocate.
Most rms make carried interest distributions at the time of exit

from a portfolio company (or when any lockup period has been
completed).Veryfewrmsallowfordeferralsofdistributions.
Carried Interest Plans (CIP):
By Firm Type
Isthereapartialorfulldeferralmechanism?
None
Partial
Full
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Infastructure/Distressed/Turnaround
Institutional
AllFirms
13%
4%
83%
16%
3%
81%
7%
7%
87%
22%
0%
78%
14%
14%
71%
0%
0%
100%
20%
20%
60%
0%
0%
100%
12%
6%
82%
13%
6%
81%
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Ifthereisadeferralmechanism,whenarepaymentsmade?
Duringthe Attheendof Over three
Over five
Other
years
years
followingyear thelifeofthe
23%
31%
0%
0%
46%
17%
17%
0%
0%
67%
40%
20%
0%
0%
40%
0%
100%
0%
0%
0%
50%
50%
0%
0%
0%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
20%
20%
0%
20%
40%
25%
30%
0%
5%
40%
Doesaplancommittee Isaportionofthecarry
haveanydiscretionasto heldinreserveforthe
thevestinGofleavers? promotionsornewhires?
53%
53%
51%
56%
53%
47%
56%
44%
71%
71%
0%
0%
80%
60%
0%
100%
50%
67%
54%
55%
Employee Benefits and Perquisites
By Firm Type
MostrmsoerRetirementplans.401(k)plansarethemostcommon.InstitutionalrmsalsooerDenedBenetpensionplans(42%);CashBalancepensionplans
(25%);andSERP/IRAs(25%).OtherplansnormallyoeredareMedicalandDental.Toasomewhatlesserdegree,lifeinsuranceandshortandlongtermdisability
plansareoered.
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Partners
Avg.
40.6
27.4
49.6
49.4
31.9
92.5
8.5
40.0
65.0
42.5
25th
16.7
10.0
21.8
20.0
19.6
58.8
6.5
40.0
40.9
19.0
50th
25.0
18.8
32.8
39.0
20.9
72.5
8.5
40.0
46.0
40.0
75th
50.0
34.9
50.5
51.3
40.0
106.3
10.5
40.0
75.0
66.0
CostofEmployeeBenefits(000's)
NonParnters
Avg.
25th
50th
75th
23.3
8.0
13.4
25.2
21.4
6.8
13.1
24.0
26.0
9.0
20.0
38.0
24.6
10.5
22.0
40.0
25.2
8.0
16.3
30.0
40.0
30.0
32.5
53.8
4.5
4.5
4.5
4.5
30.0
25.0
30.0
35.0
42.4
23.6
38.5
51.8
25.1
15.0
20.0
40.0
Avg.
27.5
21.5
32.5
32.8
20.5
60.0
8.5
30.0
45.4
31.4
AllEmployees
25th
50th
10.0
20.0
8.1
15.0
14.0
23.3
12.0
22.0
7.0
17.7
30.0
50.0
4.5
8.5
20.0
30.0
25.0
38.5
15.0
20.6
75th
37.0
24.0
43.0
43.8
21.0
67.5
12.5
40.0
52.5
40.0
Medianannualemployeebenetcostis$40,000for
partners, $15,000 for nonpartners and $20,600 for
allemployeescombined.

Employee Benefits and Perquisites: Portion of Benefits Paid by The Firm
By Firm Type
MostLBOandVCprivatermspaythefullcostofmedicalanddentalinsurancebenetsforbothemployeesandtheirdependents.Anumberofinstitutionalrms
nowhavetheiremployeespayaportion(about1525%)ofthesecosts. Firmspay65%ofdisabilitycostsand79%ofthecostofbasiclifeinsuranceplans..Some
rmsalsohavesupplementallifeinsurancewhichwewouldexpectwouldbepaidbyemployees.
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Medical (Employees)
Medical (Dependents)
Portion of Benefits Paid by the Firm - Partner Level

Dental (Employees)
Dental (Dependents) Short-term Disability
Long-tern Disability
Basic Life InsuranceSupplemental Life Insurance
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
90%
93%
90%
82%
78%
72%
80%
100%
63%
85%
100%
100%
100%
80%
89%
75%
100%
100%
83%
100%
82%
79%
85%
82%
75%
83%
56%
100%
66%
78%
100%
95%
100%
80%
85%
83%
80%
100%
85%
98%
88%
90%
88%
85%
75%
83%
76%
100%
68%
84%
100%
100%
100%
80%
85%
83%
100%
100%
95%
100%
80%
76%
82%
85%
71%
83%
45%
100%
67%
76%
100%
100%
100%
80%
80%
83%
40%
100%
90%
100%
68%
58%
79%
63%
64%
100%
50%
100%
50%
65%
100%
100%
100%
100%
75%
100%
50%
100%
50%
100%
68%
63%
77%
57%
79%
100%
33%
100%
39%
65%
100%
100%
100%
100%
100%
100%
0%
100%
0%
100%
85%
82%
88%
86%
33%
100%
33%
100%
74%
79%
100%
100%
100%
100%
0%
100%
0%
100%
100%
100%
30%
10%
55%
0%
0%
0%
0%
0%
28%
25%
0%
0%
100%
0%
0%
0%
0%
0%
0%
0%
Medical (Employees)
Medical (Dependents)
Dental (Employees)
Dental (Dependents)
Short-term Disability
Long-tern Disability
Basic Life InsuranceSupplemental Life Insurance
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
Avg
50th
90%
92%
90%
82%
68%
72%
72%
100%
63%
83%
100%
100%
100%
80%
80%
75%
90%
100%
83%
100%
81%
77%
84%
82%
62%
83%
46%
100%
66%
76%
97%
90%
100%
80%
75%
83%
50%
100%
85%
90%
87%
88%
87%
85%
63%
83%
76%
100%
68%
82%
100%
100%
100%
80%
75%
83%
100%
100%
95%
100%
77%
73%
81%
77%
56%
83%
45%
100%
67%
73%
100%
85%
100%
80%
75%
83%
40%
100%
90%
90%
68%
58%
79%
63%
64%
100%
50%
100%
53%
66%
100%
100%
100%
100%
75%
100%
50%
100%
100%
100%
71%
64%
80%
57%
64%
100%
33%
100%
29%
64%
100%
100%
100%
100%
75%
100%
0%
100%
0%
100%
83%
79%
87%
86%
33%
100%
33%
100%
69%
77%
100%
100%
100%
100%
0%
100%
0%
100%
100%
100%
21%
9%
44%
0%
0%
0%
0%
0%
10%
16%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Employee Benefits and Perquisites: 401k Contributions Provided by The Firm
By Firm Type
23%ofrmsdonotmatchemployeemoney.Aboutonehalfofrmsmatchonsalaryonlyandtheotheronehalfonsalaryplusbonus.Afewrmsvarythematch
based on rm performance and/or length of service. Most rms match 100% of the rst 4% of compensation (salary or salary plus bonus) that is paid in by
employees.Afewrmscontributeevenifanemployeedoesnotcontribute.Afewrmscontribute3%or4%evenifemployeesdonotcontributeanything.
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
If your firm provides a 401(k) matc h, on what basis

does the matc h vary?
If your firm provides 401(k) contributions,

on what basis are they calculated?
No Matching
% Salary
% Salary
plus bonus
25%
36%
21%
0%
13%
50%
67%
0%
0%
23%
35%
29%
39%
43%
50%
50%
33%
100%
55%
40%
40%
36%
39%
57%
38%
0%
0%
0%
45%
38%
Firm Classific ation
Firm
performanc e
Lenth of
servic e
Form
Performanc e
and length of
servic e
None
5%
4%
4%
14%
0%
0%
0%
0%
21%
7%
7%
4%
12%
0%
0%
0%
0%
0%
7%
6%
5%
0%
12%
0%
0%
0%
0%
0%
0%
4%
82%
91%
73%
86%
100%
100%
100%
100%
71%
83%
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Please provide your firm's level of 401(k) contribution, by employee contribution
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Employee Contribution
0%**
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12+%
3%
4%
3%
3%
N/A
N/A
N/A
N/A
N/A
3%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
2%
2%
2%
1%
2%
2%
2%
2%
3%
3%
3%
3%
3%
2%
N/A
3%
3%
3%
4%
4%
4%
3%
4%
2%
3%
4%
4%
4%
4%
4%
4%
4%
5%
3%
3%
5%
5%
4%
4%
4%
4%
4%
5%
3%
3%
6%
5%
4%
4%
4%
4%
4%
6%
3%
3%
6%
5%
4%
4%
4%
4%
4%
6%
3%
3%
6%
5%
4%
4%
4%
4%
4%
6%
3%
3%
6%
5%
4%
4%
4%
4%
4%
N/A
N/A
3%
N/A
6%
4%
4%
4%
4%
4%
6%
3%
3%
6%
5%
4%
4%
4%
4%
4%
6%
3%
3%
6%
5%
4%
**Less than 4% participant response to firm contribution when no employee contribution.

General Partner Commitment (GPC)
By Firm Type
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
FirmClassification
StandardGeneralPartnercommitmentas%ofMostRecentFund
25th
50th
75th
# Firms
Avg.
77
35
5.09%
5.35%
1.00%
1.84%
2.00%
2.46%
5.00%
5.00%
32
2.34%
1.00%
1.00%
2.00%
10
3.86%
1.58%
2.00%
4.30%
0.65%
0.33%
0.65%
0.98%
1.00%
1.00%
1.00%
1.00%
2.25%
1.50%
2.00%
2.75%
1.30%
1.30%
1.30%
1.30%
18
4.51%
0.00%
1.25%
2.00%
107
3.71%
1.00%
2.90%
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
ForthosewhocontributetotheGeneralPartnercommitment,
aretheyexpectedtosubscribeon:
AttimeofLP Onanannual
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
2.00%
HowistheallocationoftheGeneralPartnercommitmentamongstthepartners/employeesdetermined?
Allupfront
Other
83%
76%
4%
0%
23%
31%
7%
0%
88%
0%
8%
15%
100%
25%
40%
0%
60%
17%
20%
0%
0%
0%
0%
0%
50%
0%
50%
0%
100%
0%
0%
0%
46%
10%
31%
0%
73%
6%
25%
4%
Proratato
Carried
InterestPlan
interest
Internally
agreed
amongst
partners
Fund
Fund
Individual management management
Discretionary
affordability entitypays entitypays
total
proportion
48%
41%
38%
44%
20%
25%
27%
44%
58%
29%
13%
30%
40%
20%
33%
67%
0%
0%
0%
0%
25%
25%
100%
Other
3%
3%
8%
6%
3%
0%
13%
0%
13%
3%
10%
10%
0%
10%
0%
0%
33%
0%
0%
100%
0%
0%
25%
25%
25%
0%
0%
0%
0%
0%
0%
100%
0%
22%
22%
6%
6%
6%
11%
11%
41%
35%
16%
20%
5%
11%
4%
GeneralPartnersarerequiredtoputsomemoneyatriskinorder
toqualifyforlongtermcapitalgaintaxtreatment.Also,LPsprefer
thatGPs haveskininthegamebyinvestingalongsidetheLPs
Themostcommonallocationis2%ofthecapitalcommiOedtothe
fund.
GPs often contribute pro rata to their share of carried interest. It
alsoiscommontonegotiateinternallyamongthepartners.
ThemajorityofrmsmaketheirGPcontributionsatthetimeofan
LPdrawdown(88%VC,76%LBO).Anumberofrms,mostlyLBO
rms,contributeonadealbydealbasis.
Co-Investment Plans: Participation and General Plan Characteristics
By Firm Type
Page29showsthat21%ofrms(30%LBO,andonly12%VC)haveacoinvestmentplanforpartnersthatisinadditiontotheGPcontribution.Shownbeloware
various features of these plans. For partners, contributions are mandatory more often than voluntary. For nonpartners, voluntary is more common. Most co
investmentsareprorataonalldealsthereisliOlecherrypicking.Mostinvestmentsareaftertaxeshavebeenpaidasopposedtopretax.
Participation in the co-investment plan (by employee group)
Investment Professionals
Partners/M.D.'s
Non-Partners/Non-M.D.'s
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Firm Classification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Administrative/Support Staff
Partners/M.D.'s
Non-Partners/Non-M.D.'s
Mandatory
Voluntary
N/A
Mandatory
Voluntary
N/A
Mandatory
Voluntary
N/A
Mandatory
Voluntary
N/A
55%
47%
75%
100%
0%
0%
67%
0%
80%
59%
25%
27%
25%
0%
0%
0%
33%
0%
0%
21%
20%
27%
0%
0%
100%
0%
0%
0%
20%
21%
16%
15%
0%
50%
0%
0%
33%
0%
75%
24%
68%
65%
100%
50%
0%
0%
67%
0%
0%
58%
16%
20%
0%
0%
100%
0%
0%
0%
25%
18%
12%
8%
33%
0%
0%
0%
50%
0%
50%
18%
41%
31%
67%
100%
0%
0%
0%
0%
0%
32%
47%
62%
0%
0%
100%
0%
50%
0%
50%
50%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
47%
36%
67%
100%
0%
0%
50%
0%
67%
48%
53%
64%
33%
0%
100%
0%
50%
0%
33%
52%
Co-Investments are made on:

Specific
All Deals
Both
Deals Only
91%
88%
100%
100%
0%
0%
67%
0%
60%
84%
4%
6%
0%
0%
0%
100%
33%
100%
20%
10%
4%
6%
0%
0%
0%
200%
0%
200%
20%
6%
Loans (see table on next page) 44% of firms with a co-investment

plan provide loans to participants in the plan. A common loan ratio
(firm money to employee money) is 3:1.
Interest on the loan is a floating rate more often than a fixed rate.
The current rate is about 5%.
Co-Investment Plans
All Firms
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Arecoinvestment
opportunities:
PreTax
5%
9%
0%
0%
0%
0%
0%
0%
0%
3%
Arecoinvestment
opportunities:
FirmClassification
PostTax
95%
91%
100%
100%
100%
100%
100%
100%
100%
97%
SweetEquity
PariPassu
14%
11%
N/A
50%
N/A
N/A
N/A
N/A
N/A
13%
86%
89%
100%
50%
N/A
N/A
N/A
100%
100%
87%
Average %
of loan
that is
rec ourse
Average
c urrent
interest
rate
24%
43%
5%
4%
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Loans
FirmClassification
LBO/VC/Mezz
LBO/GrowthEquity
VentureCapital
Mezzanine
FundofFunds
CorporateVenturing
Institutional
AllFirms
Are
employees
Are loans
required to
provided to
invest their
employees?
own
money?
InterestRate
Fixed
Floating
100%
100%
31%
77%
25%
37%
30%
14%
Istherea
Highest
vesting
loan ratio
scheduleon of firm to
theloans? employee
3%
0%
3:1
3:1
8%
8%
100%
N/A
0%
5:1
0%
5%
50%
0%
50%
100%
25%
3:1
33%
6%
0%
0%
0%
0%
0%
N/A
0%
N/A
0%
0%
0%
0%
0%
N/A
0%
N/A
100%
100%
50%
50%
33%
.5:1
50%
6%
0%
0%
0%
0%
0%
N/A
0%
N/A
30%
22%
67%
50%
20%
3:1
21%
8%
44%
25%
40%
82%
7%
3:1
21%
5%
PE/VC Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
V. Year to Year Changes in Compensation Levels
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)
Compensation Levels Changes in Median Compensation

Year -over-year changes in median compensation for investment manager positions
All Firms - By Employee Grouping
Theeconomyaectsperformanceandperformanceaectscompensation.Salaryplusbonuspluscarriedinterestdistributionsincreasedinagoodeconomy23%
from2006to2007and25%from2007to2008.Theninabadeconomyfrom2008to2009theydecreased5%.Thingsgraduallyimproved,andtherewasanincrease
of5%from2009to2010,10%from2010to2011,and26%from2011to2012.Thisincludesallemployees.
IfwefocusonPartners,theyreceivednosalaryincreasesfrom2008to2009and2009to2010;only1%in2010to2011;and5%from2011to2012.Whenbonusand
carriedinterestdistributionsareincluded,thechanges(percent)werenegativefrom2008to2009and2009to2010butdidincreasereasonably(12%)from2010to
2011;and25%from2011to2012.LBOrepresentedmostoftheimprovementin2011/12.VentureCapitaldidnotdonearlyaswell.

HistoricChangesinMedianCompensation
InvestmentManagersPartnerPositions

Year-over-year changes in median compensation for investment manager positions (Continued)
Even during the poor economy, nonpartners received salary increases of 4% to 6% and salary plus bonus increases of 7% to 10%. From 2011 to 2012, salaries
increasedadramatic15%atLBOrmsandsalaryplusbonusincreased27%.Partnersatthesermsapparentlywantedtoensurethatnonpartneremployeeswere
reasonablysatisedwiththeircompensationsothattheyremainpositivelymotivated.
VentureCapitalrmsfornonpartnerlevelcompensationsawsalaryplusbonusincrease19%from2011to2012.

InvestmentManagersNonPartnerPositions
AllInvestmentManagers

Year-over-year changes in median compensation for investment manager positions (Continued)
Noninvestmentpositionemployeesreceivedsolidincreasesinsalaryandsalaryplusbonusfrom2011to2012,withLBOrmsat17%andVCrmsat15%.
Whenallemployeesareincludedfrom2011to2012,salaryplusbonusincreased31%atLBOrmsand15%atVCrms.
AllNoninvestmentPositions
AllEmployees

Year-over-year changes in median compensation - Key Positions
LBO and Venture Capital Firms
We also include yeartoyear changes for certain key positions in LBO and VC rms. This includes salaries fromApril 1, 2011 toApril 1,2012, and bonuses and
carriedinterestdistributionsearned/accruedin2010and2011.VCsalariestypicallyarehigherthanLBOrms,butwhenbonusesareaddedtosalariesLBOrms
tend to pay more; and when carried interest distributions are included, LBO rms further widen the gap.An exception this year is the PE02 Senior Partner or
ManagingDirectorposition.ThisappearstobetruebecausethePE02positioninLBOrmsseemslowerthanwewouldexpect.
LBO/GrowthEquity
VentureCapital
PE/VC Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
VI. Compensation Levels Per Position (By Type &

Size of Firm)
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)
Compensation Levels Per Position (By Type & Size of Firm)

Investment Managers - Partner Level Positions
JobDescriptions
PE 01. Managing General Partner(s) / CEO: One or more of the top level partners that provide both strategic and operational leadership to the private equity
organization,withresponsibilityforitsoverallsuccess,planningandgrowth.

PE02.SeniorPartner/SeniorManagingDirector(s):Exceptionalexperienceasdealmakersandportfoliomanagerswhooverseeinvestmentandexitingdecisions
forlargepartsoftheportfolio,andwhoheadupexecutionoforganizationalgoalsandstrategysetbythemanaginggeneralpartner(s).Theynormallyhaveatleast
15yearsofrelevantexperience.
PE03.Partner/ManagingDirector(s)/PortfolioManager:Seasonedexperienceasdealmakers,eitherwithnancialoroperationalexpertise,wholeadteamsthat
source transactions, negotiate them, and monitor companies once in the portfolio. They typically sit on company boards and determine exit strategies. They
normallyhaveatleast10yearsofrelevantexperience.

Observations
Page#10providesdenitionsforvarioustermsusedinthisSectionV.Wewillsummarizesomeofthisinformation.
Inthissectionofthereport,welookateachsurveyedpositionseparatelybytypeandsizeofrm.Thenwewillreversethedata,andshowallpositionswithineach
typeandsizeofrm.
Weconsidersmallsizermsashavingunder$500millionofcommiOedcapitalfromallactivefunds;midsizermsare$500 to$999million;andlargermsare
$1.0billionormore.
Foreachcomponentofcompensation,weshowanaverageandamedian(50thpercentile).Wealsoshowa25th(low)anda75th(high)percentile.Weconsiderthe
medianasmorereliablethantheaveragebecausetheaveragecanincludeoneortwoveryhighorlowpayingrmsthatdistortthetruecompetitivemarketplace
compensation.Thus,whenwecommentoneachposition,wewillfocusonthemedian(or50thpercentile).
Therearetwopagesformostpositions(unlessthereisinsucientdata).Thevariouscomponentsof actualcompensationontherstpagearesalary;salaryplus
bonus;andsalaryplusbonuspluscarriedinterestdistributions.Thesecondpagecoverscarriedinterestallocations(notdistributions)andincludesthepercentof
themostrecentfund(oftenreferredtoaspointsinthefund)andthedollarsatworkfromboththemostrecentfundandallactivefunds.Thepercentofcarried
interesttypicallyislowerinlargermsforhigherlevelpositionswhilethedollarsatworkforthesepositionsarelargerthaninsmallrms.
Forhigherlevelpositions,sizemakesasignicantdierenceincompensationlevels.Forlowerlevelpositions,sizecanmakesomedierencebutlesssothanwith
higherlevels.Therefore,ourcommentarywillfocusonlargermsforPartnerandPrincipalpositionsandonallrmsbelowthePrincipalposition..
LBOrmshadmuchhighercarriedinterestdistributionsin2011thanin2010.VCandotherrmsdidnotdoaswell.


Investment Managers -Partner Level Positions
Observations(Continued)

PE 01 VC rms usually pay higher salaries than LBO rms, but LBO rms close the gap (or even surpass VC rms) when bonuses are added to salaries. ($2.2
millionmedianforthetoplevelPartner/CEOpositionatlargeLBOrmsversus$1.7millionforlargeVCs).MezzaninermswerelowerthanLBOandVCrms,
while Fund of Funds and Institutional rms were between LBO and VC rms. When carried interest distributions are added, LBO compensation is $6.1 million
versusVCs$1.7million.Carriedinterestis5.7%(ofthefund)inLBOrmsand4%inVCrms.Dollarsatworkfromallactivefunds(whichweconsiderthemost
importantcomponentofcarriedinterestbecausetheygeneraterealizedgains)are$76.4millioninlargeLBOrmsand$59.1millioninlargeVCrms.Thedollarsat
workare$38.2millioninMezzanineorganizations;$132.2millioninFundofFunds;and$61.5millioninInstitutionalrms.
PE02 SalaryplusbonusmedianfortheSeniorPartner/SeniorManagingDirectorpositionis$1.3millioninlargeLBOrmsand$1.1millioninlargeVCrms.
Institutionalrmswereat$0.9million.Whencarriedinterestdistributionsareaddedtosalaryandbonus,thenumbersincreaseto$2.8million(LBO);$1.3million
(VC)and$1.1million(Institutional)
Carriedinterestasapercentofthefundis2.0%forlargeLBOrmsand2.3%forlargeVCrms.Itisonly1.0%inInstitutionalrms.Thedollarsatworkfromall
activefundsis$40.6millioninlargeLBOrmsand$20.6millioninlargeVCrms.Institutionalrmsareat$27.2million.
PE03SalaryplusbonusmedianforthethirdlevelPartnerpositionis$822,000inlargeLBOrmsand$543,000inlargeVCrms.Thiscompareswith$640,000in
Institutionalrms;$659,000inMezzaninermsand$522,000inFundofFundrms.Whencarriedinterestdistributionsareadded,theguresincreaseto$978,000
(LBO),$606,000(VC)and$814,000(Institutional).TheydonotincreaseforMezzanineandFundofFundrms.
Carriedinterestasapercentofthefundis1.1%forlargeLBOrmsand0.9%forlargeVCrms.Thedollarsatworkfromallactivefundsare$12.6millioninlarge
LBOrmsand$8.6millioninlargeVCrms.

Managing General Partner (s) / CEO
Base Salary ($000)
Salary + Bonus ($000)
Salary + Bonus + Carry Distribution ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
1,106.3
450.0
750.0
1,834.0
3,235.0
2,000.0
2,200.0
2,387.5
6,367.7
4,864.8
6,138.0
7,894.8
LBO / Grow th Equity (Mid-Size)
629.8
379.2
600.0
775.0
1,568.2
1,069.0
1,350.0
2,039.2
4,041.1
1,375.0
2,694.7
5,669.3
LBO / Grow th Equity (Small)
341.1
250.0
292.5
335.0
533.1
335.0
442.5
681.3
1,413.6
335.0
612.5
1,860.7
26
742.5
307.5
450.0
892.3
1,954.9
731.2
1,607.3
2,237.5
4,217.0
1,362.5
2,925.9
6,151.5
1,311.0
1,041.8
1,301.8
2,000.0
1,865.1
1,500.0
1,658.0
2,118.2
1,887.6
1,500.0
1,658.0
2,320.1
Venture Capital (Mid-Size)
1,060.3
622.5
875.0
1,375.5
1,497.0
720.0
1,172.0
2,363.0
1,571.0
720.0
1,468.0
2,363.0
Venture Capital (Small)
13
542.1
350.0
400.0
750.0
593.5
350.0
540.0
750.0
696.8
350.0
540.0
800.0
Firm Classification
LBO / Grow th Equity (Large)
LBO / Grow th Equity (All)
30
964.8
462.5
990.0
1,250.0
1,215.9
555.0
1,039.7
1,656.4
1,287.2
555.0
1,239.6
1,875.8
Mezzanine (Mid/Large Size)
406.7
285.0
325.0
487.5
1,715.0
1,347.5
1,350.0
1,900.0
1,715.0
1,347.5
1,350.0
1,900.0
Mezzanine (Small)
808.8
243.8
800.0
1,365.0
820.0
265.0
810.0
1,365.0
1,175.3
490.0
990.0
1,675.3
Mezzanine (All)
636.4
247.5
422.5
1,000.0
1,203.6
807.5
1,350.0
1,380.0
1,406.6
957.5
1,368.0
1,930.0
Fund of Funds (Large)
549.9
337.4
400.0
612.5
1,813.0
1,413.0
1,850.0
2,250.0
1,840.5
1,413.0
1,905.0
2,332.5
Fund of Funds (Mid-Size)
440.0
360.0
440.0
520.0
740.0
510.0
740.0
970.0
840.0
660.0
840.0
1,020.0
Fund of Funds (All)
513.3
312.3
400.0
562.5
1,455.3
826.4
1,425.0
1,950.0
1,507.0
826.4
1,425.0
2,032.5
Corporate Venturing (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Infrastructure/Distressed/Turnaround/Real Estate
415.0
345.0
380.0
450.0
1,131.0
570.0
1,112.0
1,673.0
1,131.0
570.0
1,112.0
1,673.0
Institutional (Large)
795.1
325.0
400.0
682.5
1,828.0
1,092.5
2,000.0
2,392.5
3,104.8
1,092.5
2,392.5
3,140.2
Institutional (Small/Mid-size)
439.6
300.0
326.9
326.9
725.3
500.0
653.8
653.8
1,031.7
622.5
794.0
794.0
Institutional (All)
16
639.5
300.0
378.0
564.4
1,345.6
669.7
943.3
2,000.0
2,197.8
771.0
1,388.3
2,406.9
LBO/VC/Mezz (Large)
21
1,233.8
600.0
1,041.8
2,000.0
2,610.5
1,814.5
2,118.2
2,392.5
4,261.1
1,824.8
2,450.0
6,138.0
LBO/VC/Mezz (Mid-Size)
17
802.1
350.0
600.0
1,000.0
1,488.2
788.0
1,345.0
2,300.0
2,841.2
1,250.0
1,686.0
2,900.0
LBO/VC/Mezz (Small)
25
532.8
250.0
376.0
750.0
666.8
350.0
642.0
800.0
1,059.1
400.0
711.5
1,350.0
LBO/VC/Mezz (All)
63
839.1
350.0
630.0
1,240.0
1,536.3
645.0
1,250.0
2,059.1
2,607.3
709.3
1,651.8
2,848.7
All Firms
90
789.8
326.9
600.0
1,041.8
1,489.6
640.0
1,250.0
2,000.0
2,431.9
701.9
1,500.0
2,552.0

Managing General Partner (s) / CEO - Continued
Carried Interest
Firm Classification
#
Firms
% of Most Recent Fund
Dollars At Work Most Recent Fund (Millions)
Dollars At Work All Active Funds (Millions)
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
5.0%
3.4%
4.2%
5.8%
40.86
28.75
46.60
53.38
76.53
50.97
76.40
108.72
12.0%
4.2%
5.3%
6.2%
26.99
20.77
25.80
31.55
40.13
31.71
34.58
54.33
6.1%
3.5%
6.0%
8.9%
9.85
6.10
11.98
13.37
9.59
5.20
11.98
13.37
25
7.2%
3.5%
4.6%
7.0%
28.29
13.34
25.80
46.60
47.59
13.34
40.00
70.12
2.9%
2.7%
3.2%
3.7%
18.74
11.18
14.65
25.18
92.46
38.63
59.07
106.16
4.9%
4.6%
5.0%
5.6%
12.97
8.40
15.00
16.60
41.68
31.33
34.00
39.05
11
4.9%
2.9%
5.0%
7.0%
5.67
2.40
3.27
5.52
8.26
3.09
7.30
11.27
26
4.5%
3.0%
4.4%
6.2%
11.44
3.27
11.22
16.60
41.87
7.60
30.86
40.01
3.7%
2.3%
3.8%
5.1%
27.96
23.84
28.38
32.29
57.62
36.39
38.20
69.14
Mezzanine (Small)
6.9%
5.3%
6.4%
7.9%
9.45
4.86
9.60
14.19
12.44
5.10
11.58
18.92
Mezzanine (All)
5.5%
4.3%
5.8%
6.9%
17.38
9.60
17.80
23.84
31.80
11.58
27.31
36.39
9.3%
2.4%
3.9%
13.4%
8.50
7.00
10.30
10.90
39.04
23.56
32.20
51.10
0.7%
0.4%
0.7%
1.0%
3.25
1.88
3.25
4.63
8.25
4.88
8.25
11.63
Fund of Funds (All)
5.8%
0.9%
1.3%
3.9%
6.40
3.69
6.00
10.30
26.72
14.91
15.00
32.20
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
7.5%
7.3%
7.5%
7.8%
5.55
4.28
5.55
6.83
31.10
26.15
31.10
36.05
2.0%
1.1%
1.8%
2.5%
28.64
19.85
36.09
36.84
75.48
25.46
61.54
111.21
6.1%
4.4%
6.0%
6.0%
29.01
7.62
10.41
10.41
29.78
9.75
21.20
21.20
Institutional (All)
14
3.4%
1.4%
2.2%
4.4%
28.79
7.22
28.50
36.52
54.39
14.91
29.87
100.00
LBO/VC/Mezz (Large)
20
4.2%
2.7%
3.5%
4.6%
31.94
13.73
31.00
47.55
84.08
40.30
73.26
106.35
16
8.0%
2.9%
4.1%
6.0%
20.49
14.00
19.52
26.45
40.80
31.91
36.34
44.89
LBO/VC/Mezz (Small)
23
5.8%
3.5%
6.5%
7.7%
8.86
3.27
7.30
13.37
11.41
5.20
11.59
15.60
LBO/VC/Mezz (All)
59
5.8%
3.4%
4.6%
6.6%
19.84
6.50
15.60
28.38
44.01
13.17
34.00
58.03
All Firms
80
5.6%
3.0%
4.3%
6.6%
20.27
6.00
14.55
28.38
44.19
13.00
32.50
61.40


Senior Partner / Senior Managing Director (s)
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
10
601.4
471.9
547.3
690.8
1,804.8
854.6
1,271.5
1,679.8
3,404.3
2,366.2
2,752.5
5,090.9
570.8
383.3
425.0
612.5
740.0
597.4
694.9
837.5
3,817.0
722.5
2,579.2
5,673.7
246.7
200.0
250.0
325.0
437.3
300.0
390.0
575.0
786.2
300.0
500.0
793.4
23
457.3
287.5
400.0
547.3
1,084.5
460.0
766.0
1,089.0
2,451.6
607.4
1,483.1
3,114.8
1,007.6
923.9
1,059.2
1,141.3
1,222.3
1,036.4
1,059.2
1,462.3
1,315.4
1,057.4
1,325.5
1,593.6
577.5
462.5
565.0
680.0
577.5
462.5
565.0
680.0
577.5
462.5
565.0
680.0
332.2
230.3
282.5
400.0
370.0
250.0
352.5
451.3
583.7
250.0
352.5
545.8
16
645.0
343.8
597.0
923.9
741.5
406.3
597.0
1,036.4
856.5
406.3
680.0
1,194.3
Firm Classification

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
303.5
175.0
225.0
400.0
414.5
225.0
275.0
587.5
556.7
275.0
335.0
587.5
Mezzanine (All)
298.8
187.5
262.5
368.8
536.3
237.5
509.4
746.9
654.8
290.0
524.4
1,005.7
269.9
263.2
269.9
276.6
685.1
675.5
685.1
694.6
685.1
675.5
685.1
694.6
447.5
346.3
447.5
548.8
497.5
371.3
497.5
623.8
572.5
483.8
572.5
661.3
Fund of Funds (All)
358.7
253.6
269.9
375.0
591.3
560.8
685.1
715.6
628.8
598.3
685.1
715.6
325.0
287.5
325.0
362.5
414.0
352.0
414.0
476.0
956.5
623.3
956.5
1,289.8
433.3
350.0
550.0
575.0
875.7
650.0
1,150.0
1,238.5
875.7
650.0
1,150.0
1,238.5
449.5
265.8
500.0
557.2
966.6
730.5
939.4
1,147.6
1,816.3
802.7
1,145.1
1,742.9
313.8
231.3
287.5
287.5
417.9
278.8
456.5
456.5
624.3
301.3
456.5
456.5
Institutional (All)
16
369.6
250.0
300.0
500.0
643.8
400.0
600.0
795.0
1,115.1
400.0
637.5
1,150.0
LBO/VC/Mezz (Large)
17
722.4
500.0
600.0
1,055.6
1,552.5
858.0
1,078.0
1,595.5
2,502.8
1,063.0
2,048.4
2,734.7
554.8
287.5
450.0
630.0
674.4
500.0
639.8
800.0
2,449.9
630.0
750.0
4,408.3
LBO/VC/Mezz (Small)
20
301.3
200.0
250.0
330.0
440.6
240.0
425.0
586.0
685.0
275.0
450.0
793.4
LBO/VC/Mezz (All)
46
502.2
253.3
400.0
615.0
887.5
387.5
666.0
1,042.8
1,680.5
437.5
830.0
2,192.1
All Firms
70
473.7
250.0
400.0
592.4
834.8
350.0
636.3
1,030.0
1,517.1
406.3
768.1
1,623.0

Senior Partner / Senior Managing Director (s) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
2.7%
1.1%
2.0%
4.0%
20.93
12.11
22.25
26.25
36.72
19.60
40.63
53.12
4.0%
2.7%
3.6%
4.8%
13.05
5.45
11.45
19.06
24.69
9.03
18.93
34.60
2.7%
2.3%
2.7%
3.1%
4.55
2.71
4.36
6.75
5.15
2.71
5.08
6.84
21
3.0%
1.9%
2.7%
4.0%
13.19
4.11
7.37
22.25
22.40
5.20
10.71
40.63
1.4%
2.1%
2.3%
2.3%
8.72
6.40
7.00
9.11
33.60
17.25
20.60
45.04
3.1%
2.5%
2.8%
3.4%
7.79
2.12
5.81
11.48
19.37
15.64
22.09
25.82
3.1%
1.5%
3.6%
3.8%
2.75
0.89
3.67
3.90
5.76
1.59
4.90
10.05
14
2.8%
2.1%
2.6%
3.6%
6.32
2.66
5.85
8.58
19.59
6.56
17.52
23.99

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
3.7%
2.9%
3.0%
3.8%
4.63
3.05
4.82
6.40
9.90
3.50
6.14
13.18
Mezzanine (All)
3.3%
2.6%
3.0%
3.0%
18.82
3.50
6.35
7.20
36.77
4.16
11.42
22.05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
17.6%
9.3%
17.6%
25.8%
5.75
5.38
5.75
6.13
7.75
7.13
7.75
8.38
Fund of Funds (All)
12.0%
0.9%
1.1%
17.6%
4.85
4.02
5.00
5.75
9.26
7.75
9.00
10.65
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1.1%
0.8%
1.0%
1.4%
22.87
4.72
16.00
25.25
49.06
10.39
27.21
54.60
2.5%
0.9%
3.0%
3.0%
3.27
0.84
3.50
3.50
10.19
2.59
9.07
9.07
Institutional (All)
12
1.9%
0.8%
1.6%
3.0%
12.31
1.68
4.57
9.75
28.13
3.50
12.29
25.00
LBO/VC/Mezz (Large)
15
2.3%
1.4%
1.9%
2.6%
19.33
6.85
13.73
26.06
41.58
17.06
38.22
53.79
3.6%
1.3%
2.4%
4.3%
11.36
3.50
9.30
18.00
22.63
10.00
25.12
27.87
LBO/VC/Mezz (Small)
19
2.9%
1.6%
3.0%
3.7%
4.10
2.14
3.88
5.78
6.90
2.37
5.86
10.89
LBO/VC/Mezz (All)
43
2.9%
1.7%
2.6%
3.8%
11.12
3.39
6.53
15.71
22.37
4.90
12.29
27.87
All Firms
57
3.1%
1.6%
2.6%
3.6%
11.14
3.04
6.14
15.34
23.22
5.05
12.29
27.87

Partner / Managing Director (s)
Firm Classification
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
541.4
327.2
400.0
543.8
885.4
650.6
822.0
988.1
1,356.0
836.4
978.0
1,813.5
430.0
350.0
400.0
450.0
590.0
500.0
650.0
650.0
995.5
500.0
650.0
700.0
241.0
235.0
242.0
250.0
441.9
442.7
454.0
470.0
908.6
470.0
588.0
600.0
21
443.4
280.0
350.0
475.0
709.5
500.0
650.0
822.0
1,163.7
592.5
780.8
1,745.2
557.7
416.3
527.8
542.5
588.2
521.0
542.6
691.6
644.2
533.5
606.0
781.2
499.9
300.0
371.0
550.0
582.1
464.2
500.0
625.0
590.4
464.2
500.0
699.0
236.1
215.0
217.5
230.0
255.0
217.5
249.5
290.0
268.0
217.5
249.5
355.0
22
431.2
243.8
433.8
537.0
510.0
308.8
515.4
606.3
536.7
370.8
532.0
689.7
342.5
229.4
266.3
379.4
672.7
586.9
658.8
744.6
672.7
586.9
658.8
744.6
Mezzanine (Small)
200.0
162.5
200.0
237.5
334.3
175.0
200.0
426.5
467.7
200.0
200.0
601.5
Mezzanine (All)
281.4
210.0
245.3
287.5
527.7
347.5
628.2
676.5
584.9
347.5
642.3
789.2
232.1
218.1
223.7
241.9
636.3
464.5
521.9
750.9
643.0
464.5
521.9
760.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
232.1
218.1
223.7
241.9
636.3
464.5
521.9
750.9
643.0
464.5
521.9
760.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
392.3
281.3
500.0
500.0
995.7
798.5
800.0
1,500.0
995.7
798.5
800.0
1,500.0
359.9
222.8
315.0
500.0
753.5
515.0
640.0
878.5
1,001.0
515.0
814.4
1,500.0
236.4
217.9
225.0
225.0
311.9
304.0
314.0
314.0
515.1
325.0
330.7
330.7
Institutional (All)
16
315.8
219.1
236.3
378.8
595.8
337.1
468.2
770.8
827.4
399.1
670.6
948.8
LBO/VC/Mezz (Large)
20
525.0
385.0
475.0
540.0
791.5
592.5
780.6
878.5
1,101.1
662.0
814.4
1,204.1
16
481.8
250.0
371.0
600.6
591.0
487.5
583.3
642.5
784.6
487.5
583.8
767.4
LBO/VC/Mezz (Small)
14
249.6
216.9
240.5
276.3
404.6
279.9
422.5
474.2
635.1
304.9
429.6
625.0
LBO/VC/Mezz (All)
50
434.1
262.5
371.0
527.8
618.3
450.0
592.5
740.3
868.0
490.0
650.0
924.2
All Firms
74
403.1
232.5
311.7
500.0
620.3
421.4
548.3
782.9
835.0
468.6
650.0
911.5


Partner / Managing Director (s) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
1.2%
0.8%
1.1%
1.5%
8.77
5.18
7.70
11.30
15.29
7.38
12.58
20.11
2.2%
1.6%
2.0%
2.0%
6.26
4.50
4.80
8.70
8.12
5.00
8.30
10.60
1.7%
1.4%
1.6%
1.8%
3.18
1.75
2.69
4.40
3.18
1.75
2.69
4.40
21
1.6%
1.0%
1.4%
2.0%
6.84
3.00
5.37
8.75
10.70
4.40
8.02
12.58
0.6%
0.5%
0.9%
1.0%
4.71
1.84
4.65
5.80
10.46
5.70
8.64
13.30
1.8%
1.0%
2.0%
2.5%
4.81
2.30
3.60
7.80
10.19
5.60
10.80
13.50
1.5%
1.3%
1.6%
1.8%
1.90
0.53
0.65
1.66
2.70
1.56
1.68
2.42
17
1.3%
0.8%
1.2%
1.9%
4.01
0.93
3.58
6.18
8.32
3.71
6.34
11.40
1.9%
1.4%
1.9%
2.4%
16.37
8.96
15.38
22.78
25.32
13.15
22.38
34.54
Mezzanine (Small)
3.0%
2.3%
2.5%
3.5%
3.23
1.85
2.50
4.25
4.89
1.85
2.50
6.74
Mezzanine (All)
2.4%
1.9%
2.2%
3.0%
10.74
4.25
8.81
15.38
16.56
6.55
11.89
22.38
14.0%
14.0%
14.0%
14.0%
3.69
2.54
3.69
4.85
9.80
7.69
9.80
11.90
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
14.0%
14.0%
14.0%
14.0%
3.69
2.54
3.69
4.85
9.80
7.69
9.80
11.90
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1.8%
0.8%
1.4%
2.7%
3.03
2.29
4.00
4.25
6.58
5.90
7.30
7.61
0.8%
0.4%
0.5%
1.0%
10.84
2.77
12.54
17.35
19.48
4.35
21.59
30.01

1.5%
0.9%
1.1%
1.1%
2.64
1.30
2.20
2.20
5.48
2.24
3.65
3.65
Institutional (All)
12
1.0%
0.5%
0.7%
1.5%
8.38
1.33
4.91
12.88
15.28
3.79
8.23
21.84
LBO/VC/Mezz (Large)
19
1.0%
0.5%
1.0%
1.3%
8.27
4.33
5.37
12.54
15.20
6.20
8.70
21.59
15
2.1%
0.7%
1.2%
2.4%
7.70
3.60
7.80
9.60
10.98
5.21
10.80
13.80
LBO/VC/Mezz (Small)
14
1.7%
1.5%
1.7%
2.1%
3.39
1.30
2.37
6.07
4.52
1.98
4.20
6.30
LBO/VC/Mezz (All)
48
1.5%
0.9%
1.5%
2.0%
6.70
2.45
5.09
8.96
10.84
4.63
7.66
12.45
All Firms
62
1.6%
0.7%
1.3%
2.0%
6.44
2.00
4.80
8.75
10.92
4.40
7.30
13.75

Investment Manager -Non-Partner Level Positions
JobDescriptions
PE04.Principal/ VicePresident/Director(s):Supervisedbymoreseniorsta,theseprofessionalsparticipateonteamsthatsourcetransactions,negotiatethem,
andmonitorcompaniesonceintheportfolio.Rarelysitonportfoliocompanyboardsthoughoftenservesasanobserver.TheytypicallyhaveanMBAorequivalent
businessexperience,andatleastveyearsofpostMBArelevantexperience.

PE 05. Senior Associate(s): These professionals, moderately supervised, analyze statistical and other data at an advanced level to support deal sourcing, due
diligenceofinvestmentopportunities,andthemonitoringofportfoliocompanies.TheytypicallyhaveanMBAorequivalentbusinessexperiencewithatleasttwo
yearsofpostMBArelevantexperience.

PE06.Associate(s):Thesejuniorprofessionals,heavilysupervised,analyzestatisticalandotherdataatanintermediateleveltosupportdealsourcing,duediligence
ofinvestmentopportunities,andthemonitoringofportfoliocompanies.TheyhaveanMBAorequivalentbusinessexperienceandlessthantwoyearsofpostMBA
relevantexperience.

PE07.SeniorAnalyst(s):Thesejuniorprofessions,heavilysupervised,analyzestatisticalandotherdataatabasictointermediateleveltosupportdealsourcing,
duediligenceofinvestmentopportunities,andthemonitoringofportfoliocompanies.Theyhaveacollegedegreeorequivalentbusinessexperienceandtwotofour
yearsofpreMBAexperience.

PE 08. Analyst(s): These junior professionals, heavily supervised, analyze statistical and other data at a basic level to support deal sourcing, due diligence of
investmentopportunities,andthemonitoringofportfoliocompanies.Theyhaveacollegedegreeorequivalentbusinessexperienceandzerototwoyearsofpre
MBAexperience.
PE 09. Venture Partner/Operations Partner: This professional identies investment opportunities and advises portfolio companies on operational maOers. This
partnermayoccasionallyllinakeymanagementroleonatemporarybasis.


Investment Managers - Non-Partner Level Positions
Observations
PE04The50thpercentile(median)salaryplusbonusforPrincipallevelemployeesismuchhigherforlargeLBOrms($426,000)thanforlargeVCrms($351,000).
Itis$371,000forMezzaninerms,$272,000forFundofFundrms,and$332,000forInstitutionalrms.72%ofthesepositionsareallocatedcarriedinterest(89%
LBOversus61%VCand68%Institutionalrms).Thepercentofthefundtendstobe0.2%to0.6%.Thedollarsatworkare$1.6millionatlargeVCrmsand$3.5
millionatlargeLBOrms.
PE05The50thpercentile(median)salaryplusbonusforSeniorAssociatelevelemployeesis$227,000amongallrms.Itis$250,000atLBOrmsand$203,000at
VCrms.Mezzaninermsare$300,000,Institutionalrmsare$202,000andFundofFundrmsare$180,000.46%ofthesepositionsareallocatedcarriedinterest.It
is75%forLBOrmsandonly25%forVCrms.Institutionalrmsareat38%.Thepercentofthefundmedianis0.2%andthedollarsatworkare$1.47million.
PE06The50thpercentile(median)salaryplusbonusforAssociatelevelpositionsis$180,000amongallrms.ItishigherforLBOrms($196,000)thanforVC
rms($168,000).Institutionalrmsareat$153,000.Only27%ofthesepositionsareallocatedcarriedinterest(35%LBOrmsversus27%VCrmsand20%among
Institutionalrms).Amongallrms,thepercentofthefundis0.1%andthedollarsatworkare$600,000.
PE07 The50thpercentile(median)salaryplusbonus forSeniorAnalystlevelpositionsis$155,000amongallrms.Itis$166,000atLBOrms,$154,000atVC
rms,and$155,000atInstitutionalrms.Essentiallynoneofthermsallocateanycarriedinteresttotheseemployees.
PE 08 The 50th percentile (median) salary plus bonus for Analyst level positions is $81,000. It is $70,000 at LBO rms, $85,000 at VC rms, and $81,000 at
Institutionalrms.Essentiallynoneofthermsallocatecarriedinteresttotheseemployees.
PE09ThispositionistitledasaPartnerbutitisnotreallyaninvestmentmanagersowetreatitseparately.The50thpercentile(median)salaryplusbonusforthe
VenturePartner/OperationsPartnerlevelpositionis$424,000forLBOrmsand$280,000forVCrms.Othertypesofrmsdonotreportthisposition.Mostofthese
employeesareallocatedcarriedinterestthatis0.30.4%ofthefundanddollarsatworkare$2.71millionatLBOrmsand$1.45millionatVCrms.


Principal / Vice President / Director (s)
Firm Classification
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
12
252.3
185.6
238.1
292.6
458.7
387.9
426.0
473.0
556.8
419.0
476.0
688.4
279.5
205.8
230.0
337.5
393.1
348.5
375.0
440.0
820.6
357.7
430.0
978.3
142.6
138.8
150.0
154.6
273.3
233.8
288.1
300.5
302.8
242.3
291.9
392.6
27
226.8
161.7
200.0
266.3
386.8
307.0
386.3
443.8
549.9
345.9
430.0
580.5
10
244.3
218.6
275.0
300.0
345.5
289.0
351.1
375.0
345.5
289.0
351.1
375.0
209.1
182.7
225.0
249.0
263.8
255.0
270.0
301.5
263.8
255.0
270.0
301.5
176.5
124.9
142.5
227.5
204.3
127.3
167.5
287.5
207.5
127.3
167.5
290.0
26
218.6
146.3
226.5
275.0
269.6
159.4
279.1
345.2
270.9
159.4
279.1
345.2
202.9
177.4
205.0
230.5
401.8
310.3
371.0
462.5
401.8
310.3
371.0
462.5
Mezzanine (Small)
148.3
122.5
150.0
175.0
264.3
221.5
328.0
339.0
305.3
232.5
350.0
400.5
Mezzanine (All)
179.5
159.9
186.0
215.0
342.9
308.5
334.6
390.0
360.4
308.5
374.0
440.5
167.4
148.5
150.3
169.1
268.0
258.1
272.1
281.9
268.5
258.6
272.1
281.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
167.4
148.5
150.3
169.1
268.0
258.1
272.1
281.9
268.5
258.6
272.1
281.9
161.7
140.0
140.0
172.5
186.4
156.7
173.3
209.7
230.4
156.7
173.3
275.7
163.8
145.6
163.8
181.9
377.6
316.3
377.6
438.8
377.6
316.3
377.6
438.8
10
195.5
166.8
188.7
225.5
396.0
305.6
331.9
492.5
417.6
305.6
331.9
492.5
181.5
140.0
200.0
200.0
231.7
173.3
240.0
240.0
272.9
173.3
240.0
240.0
Institutional (All)
19
188.9
150.6
200.0
207.9
318.2
243.0
300.0
371.8
349.0
244.4
312.0
436.5
LBO/VC/Mezz (Large)
22
248.0
187.9
238.1
277.6
399.5
350.0
388.5
437.5
454.5
352.3
392.5
556.3
15
243.8
169.0
205.8
252.5
324.1
272.0
312.0
371.0
523.6
272.0
312.0
407.7
LBO/VC/Mezz (Small)
20
169.0
135.0
158.0
200.0
261.8
191.0
294.0
323.2
280.6
191.0
300.0
350.0
LBO/VC/Mezz (All)
57
217.2
163.2
208.7
257.8
328.9
270.0
329.0
389.6
408.6
270.0
350.0
437.5
All Firms
88
210.5
150.0
200.0
255.0
323.6
249.4
320.0
389.0
390.5
254.1
331.0
433.8


Principal / Vice President / Director (s) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
12
0.7%
0.6%
0.6%
0.6%
3.57
1.98
2.56
4.73
4.61
2.64
3.45
6.37
1.1%
0.7%
0.8%
0.9%
2.67
2.02
2.40
3.04
3.89
2.66
3.98
4.85
0.5%
0.3%
0.5%
0.5%
0.83
0.70
0.77
0.82
0.92
0.76
0.88
1.14
24
0.8%
0.5%
0.6%
0.8%
2.74
1.43
2.32
3.40
3.63
1.94
2.95
5.16
0.2%
0.1%
0.2%
0.4%
2.23
0.78
1.10
1.54
2.51
1.30
1.60
1.75
0.3%
0.3%
0.3%
0.3%
1.11
0.61
1.00
1.20
1.35
0.50
1.50
2.02
2.6%
1.4%
2.6%
3.8%
1.42
0.21
0.24
1.44
2.79
0.35
0.48
2.92

16
0.6%
0.2%
0.3%
0.4%
1.68
0.46
1.03
1.41
2.22
0.50
1.59
1.86
0.9%
0.6%
0.9%
1.2%
7.53
4.64
7.07
9.96
10.35
4.82
10.40
15.93
Mezzanine (Small)
1.1%
1.1%
1.1%
1.2%
2.69
2.55
2.69
2.84
2.69
2.55
2.69
2.84
Mezzanine (All)
1.0%
0.8%
1.0%
1.2%
5.91
3.05
4.64
8.06
7.80
3.23
4.82
13.05
0.8%
0.3%
0.4%
1.1%
0.99
0.84
0.92
1.11
3.61
2.52
3.73
4.77
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
0.8%
0.3%
0.4%
1.1%
0.99
0.84
0.92
1.11
3.61
2.52
3.73
4.77
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.9%
0.5%
0.5%
1.1%
4.47
0.74
3.13
6.85
6.47
0.96
4.80
10.23
1.0%
0.8%
1.0%
1.0%
2.45
1.42
2.09
2.09
3.96
3.65
4.67
4.67
Institutional (All)
13
0.9%
0.5%
0.5%
1.5%
3.92
0.79
2.09
5.63
5.63
1.08
4.67
7.90
LBO/VC/Mezz (Large)
19
0.4%
0.2%
0.3%
0.5%
3.07
1.19
2.00
4.18
4.18
1.73
2.84
5.63
14
0.8%
0.3%
0.5%
0.9%
3.00
1.20
2.37
3.15
3.91
2.04
2.66
4.98
LBO/VC/Mezz (Small)
13
0.9%
0.3%
0.7%
0.9%
1.47
0.40
0.79
2.40
2.09
0.56
1.35
2.40
LBO/VC/Mezz (All)
46
0.6%
0.3%
0.4%
0.8%
2.60
0.78
1.78
3.19
3.51
1.50
2.24
4.44
All Firms
63
0.7%
0.3%
0.5%
0.8%
2.74
0.76
1.80
3.26
3.80
1.26
2.40
5.10

Senior Associate (s)
Firm Classification
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
182.1
140.4
184.9
207.1
320.2
246.6
302.8
350.6
329.4
246.6
302.8
350.6
168.5
143.8
156.9
167.5
259.8
237.0
255.6
280.0
298.9
237.0
255.6
295.0
106.4
91.0
118.0
133.3
185.2
140.0
221.9
237.5
185.9
140.0
223.4
240.0
25
157.1
125.0
147.5
184.9
265.5
225.0
250.0
302.8
280.7
225.0
250.0
305.0
194.4
151.5
178.3
185.5
294.4
223.2
251.8
256.0
294.4
223.2
251.8
256.0
134.2
128.8
145.0
157.5
162.8
152.5
177.5
195.0
162.8
152.5
177.5
195.0
159.0
140.0
145.0
160.0
199.4
152.5
179.3
250.0
204.6
178.9
179.3
250.0

16
159.4
140.0
153.6
168.3
215.3
162.6
202.9
250.4
217.0
172.8
202.9
250.4
173.7
156.2
170.0
187.5
324.4
303.1
315.0
336.3
324.4
303.1
315.0
336.3
Mezzanine (Small)
95.3
88.0
90.0
100.0
112.0
110.5
111.0
113.0
117.0
110.5
111.0
120.5
Mezzanine (All)
140.1
100.0
140.5
170.0
233.4
113.0
299.8
315.0
235.5
120.5
299.8
315.0
121.8
117.7
121.8
125.9
180.5
180.3
180.5
180.8
180.5
180.3
180.5
180.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
124.5
121.8
130.0
130.0
163.7
155.0
180.0
180.5
163.7
155.0
180.0
180.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
115.0
101.3
117.5
131.3
171.3
101.3
167.5
237.5
171.3
101.3
167.5
237.5
153.0
125.7
150.0
175.6
286.2
250.2
291.7
336.5
300.7
250.2
291.7
336.5
94.5
86.0
90.0
90.0
123.2
111.0
115.0
115.0
134.6
111.0
130.0
130.0
Institutional (All)
13
128.6
101.6
123.3
154.1
218.3
114.0
201.9
294.5
231.5
125.3
206.5
294.5
LBO/VC/Mezz (Large)
16
176.6
140.4
178.3
203.0
308.3
246.6
263.5
350.6
315.0
246.6
263.5
350.6
15
159.0
125.0
150.0
167.5
227.8
190.0
225.0
280.0
246.1
190.0
225.0
291.3
LBO/VC/Mezz (Small)
15
123.0
95.0
122.0
143.3
176.6
113.0
181.8
237.5
179.7
120.5
181.8
240.0
LBO/VC/Mezz (All)
46
152.9
125.0
150.0
175.0
237.6
180.0
244.0
285.0
246.9
180.0
244.0
297.5
All Firms
69
149.0
121.5
145.0
170.0
233.1
169.8
226.6
285.0
242.3
178.9
230.0
291.7

Senior Associate (s) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.3%
0.1%
0.2%
0.2%
1.83
0.46
1.11
2.48
2.01
0.49
1.11
3.28
0.2%
0.1%
0.2%
0.3%
1.42
0.98
1.31
1.45
1.73
0.98
1.55
2.40
0.1%
0.1%
0.1%
0.1%
0.14
0.11
0.15
0.18
0.14
0.11
0.15
0.18
18
0.2%
0.1%
0.2%
0.2%
1.50
0.41
1.13
1.58
1.71
0.41
1.13
2.54
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.6%
0.4%
0.6%
0.9%
0.66
0.39
0.66
0.93
2.41
1.36
2.41
3.45
0.6%
0.1%
0.6%
0.9%
2.00
0.12
0.82
2.54
2.87
0.26
3.03
5.02
0.1%
0.1%
0.1%
0.2%
2.79
1.60
1.90
3.53
2.91
1.75
1.90
3.56
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
0.1%
0.1%
0.1%
0.2%
2.79
1.60
2.23
3.53
2.91
1.75
2.23
3.56
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.2%
0.1%
0.2%
0.2%
2.11
0.31
1.57
3.36
2.48
0.31
2.29
4.46
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
0.2%
0.1%
0.2%
0.2%
2.11
0.31
1.57
3.36
2.48
0.31
2.29
4.46
10
0.3%
0.1%
0.2%
0.2%
2.35
0.63
1.56
3.50
2.54
0.74
1.67
4.09
0.2%
0.1%
0.2%
0.3%
1.20
0.30
1.22
1.47
1.41
0.30
1.34
1.82
LBO/VC/Mezz (Small)
0.3%
0.1%
0.1%
0.2%
0.58
0.12
0.41
1.20
1.34
0.21
0.57
1.59
LBO/VC/Mezz (All)
23
0.2%
0.1%
0.2%
0.3%
1.54
0.41
1.20
1.65
1.85
0.41
1.47
3.20
All Firms
32
0.2%
0.1%
0.2%
0.3%
1.65
0.25
1.20
1.90
1.94
0.33
1.47
3.75
LBO/VC/Mezz (Large)

Associate(s)
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
11
142.2
101.3
125.5
150.0
239.5
190.0
202.5
220.0
246.1
198.7
210.0
234.3
129.8
108.6
135.0
156.3
210.2
181.0
204.5
233.8
210.2
181.0
204.5
233.8
90.3
90.0
104.4
110.0
156.3
173.0
180.0
180.0
156.3
173.0
180.0
180.0
20
125.0
101.1
115.8
150.0
209.9
181.4
196.3
218.8
213.2
181.4
200.6
223.8
146.7
126.8
141.8
161.3
207.3
164.9
175.0
191.3
207.3
164.9
175.0
191.3
91.9
85.6
102.5
108.8
106.0
91.3
118.8
133.5
106.0
91.3
118.8
133.5
107.5
106.3
107.5
108.8
157.5
146.3
157.5
168.8
157.5
146.3
157.5
168.8
15
131.1
105.0
124.8
145.9
173.6
137.8
168.0
178.4
173.6
137.8
168.0
178.4
125.2
110.4
115.0
135.0
229.3
198.9
207.9
248.9
229.3
198.9
207.9
248.9
Mezzanine (Small)
97.5
96.3
97.5
98.8
132.0
123.0
132.0
141.0
132.0
123.0
132.0
141.0
Mezzanine (All)
114.1
100.0
107.6
115.0
190.4
150.0
193.6
207.9
190.4
150.0
193.6
207.9
88.6
77.9
80.8
95.4
130.3
102.9
105.8
145.5
130.3
102.9
105.8
145.5
100.0
95.0
100.0
105.0
120.0
105.0
120.0
135.0
120.0
105.0
120.0
135.0
Fund of Funds (All)
93.2
80.8
90.0
110.0
126.2
100.0
105.8
150.0
126.2
100.0
105.8
150.0
97.5
88.8
97.5
106.3
115.0
112.5
115.0
117.5
115.0
112.5
115.0
117.5
80.0
65.0
90.0
100.0
122.7
79.0
118.0
164.0
122.7
79.0
118.0
164.0
108.3
97.0
106.3
117.8
187.2
151.9
191.3
213.9
189.6
151.9
191.3
213.9
85.3
70.5
80.0
80.0
102.3
93.5
110.0
110.0
102.3
93.5
110.0
110.0
Institutional (All)
10
101.4
82.1
106.0
113.8
161.8
112.2
152.6
203.7
163.4
112.2
152.6
203.7
LBO/VC/Mezz (Large)
20
138.3
104.6
126.2
150.0
208.8
176.3
190.7
210.9
214.1
176.3
195.0
221.3
111.3
100.2
112.5
120.0
161.7
130.0
144.0
194.0
161.7
130.0
144.0
194.0
LBO/VC/Mezz (Small)
10
101.7
96.3
104.9
110.0
165.6
138.8
179.7
183.9
165.6
138.8
179.7
183.9
LBO/VC/Mezz (All)
39
122.7
100.9
115.0
145.9
186.8
148.8
185.2
205.2
189.6
148.8
185.2
212.5
All Firms
60
118.4
100.0
110.0
135.0
180.1
140.6
180.0
207.9
182.0
140.6
180.0
210.0
Firm Classification

Associate(s) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.2%
0.1%
0.1%
0.3%
1.61
0.53
0.60
2.18
1.63
0.58
0.60
2.18
0.2%
0.1%
0.2%
0.3%
0.87
0.87
0.87
0.87
1.06
1.06
1.06
1.06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.2%
0.1%
0.1%
0.4%
1.20
0.47
0.60
0.87
1.25
0.55
0.60
1.06
0.1%
0.1%
0.3%
0.6%
1.57
0.48
0.77
2.26
1.67
0.63
0.77
2.26
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.4%
0.1%
0.4%
0.6%
1.57
0.48
1.07
2.26
1.67
0.63
1.07
2.26
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
0.1%
0.1%
0.1%
0.2%
0.74
0.67
0.75
0.80
0.83
0.72
0.85
0.95
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.0%
0.0%
0.0%
0.0%
0.40
0.30
0.40
0.50
0.40
0.30
0.40
0.50
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
0.0%
0.0%
0.0%
0.0%
0.40
0.30
0.40
0.50
0.40
0.30
0.40
0.50
LBO/VC/Mezz (Large)
0.3%
0.1%
0.1%
0.3%
1.12
0.61
0.70
0.76
1.21
0.61
0.71
0.95
0.2%
0.1%
0.2%
0.3%
0.87
0.87
0.87
0.87
1.06
1.06
1.06
1.06
LBO/VC/Mezz (Small)
0.2%
0.1%
0.2%
0.2%
0.60
0.45
0.60
0.74
0.65
0.45
0.65
0.83
LBO/VC/Mezz (All)
10
0.2%
0.1%
0.1%
0.3%
0.94
0.60
0.70
0.84
1.03
0.60
0.71
1.05
All Firms
16
0.2%
0.1%
0.1%
0.3%
0.98
0.38
0.60
0.87
1.05
0.53
0.60
1.06

Senior Analyst (s)
Firm Classification
# Firms
Base Salary ($000)
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
98.7
90.6
93.6
101.4
166.8
147.9
160.0
176.3
172.6
147.9
167.5
195.0
99.2
93.3
100.0
105.5
193.9
171.3
176.7
207.8
193.9
171.3
176.7
207.8
63.3
49.9
85.5
87.5
113.1
82.4
152.4
162.2
113.1
82.4
152.4
162.2
12
90.0
89.2
91.1
100.9
160.1
148.9
165.5
177.5
163.1
148.9
170.2
185.0
121.3
119.0
120.0
120.9
180.7
155.2
158.0
194.9
180.7
155.2
158.0
194.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
70.6
59.3
70.6
81.8
79.4
66.2
79.4
92.6
79.4
66.2
79.4
92.6
100.2
93.1
118.4
120.0
140.2
105.9
153.5
158.0
140.2
105.9
153.5
158.0
101.8
95.2
111.0
113.0
178.8
148.6
155.0
197.0
178.8
148.6
155.0
197.0
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
96.4
79.9
100.2
112.0
160.1
132.7
150.5
176.0
160.1
132.7
150.5
176.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
99.5
94.9
101.8
106.4
155.2
137.6
148.6
166.3
155.2
137.6
148.6
166.3
87.5
81.3
87.5
87.5
91.0
83.0
91.0
91.0
91.0
83.0
91.0
91.0
Institutional (All)
95.5
84.6
100.0
102.6
133.8
111.1
132.9
151.8
133.8
111.1
132.9
151.8
LBO/VC/Mezz (Large)
101.1
90.0
95.0
118.0
161.5
145.6
155.0
165.0
165.4
145.6
155.0
180.0
103.2
89.2
95.0
112.0
185.2
166.3
173.3
192.3
185.2
166.3
173.3
192.3
LBO/VC/Mezz (Small)
74.6
64.0
86.5
91.6
120.1
78.5
119.1
162.2
120.1
78.5
119.1
162.2
LBO/VC/Mezz (All)
20
92.2
86.3
92.7
111.0
151.8
137.6
155.0
175.0
153.5
137.6
155.0
177.5
All Firms
30
93.0
85.4
94.1
111.0
149.8
123.5
155.0
176.1
151.2
123.5
155.0
179.2


Analyst (s)
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
84.4
74.7
93.3
98.7
138.1
107.7
153.3
176.2
138.1
107.7
153.3
176.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
72.1
56.0
60.0
93.3
106.9
62.0
70.0
153.3
106.9
62.0
70.0
153.3
70.9
49.9
80.0
105.0
91.9
69.4
92.5
115.0
91.9
69.4
92.5
115.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
71.9
55.0
69.0
105.0
86.7
66.0
85.0
105.0
86.7
66.0
85.0
105.0
82.1
71.2
80.0
92.0
130.2
95.8
100.0
149.5
130.2
95.8
100.0
149.5
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
77.4
62.9
74.1
86.0
114.6
85.6
97.0
124.8
114.6
85.6
97.0
124.8
60.2
53.8
61.0
67.4
76.0
65.8
74.0
84.2
76.0
65.8
74.0
84.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
60.2
53.8
61.0
67.4
76.0
65.8
74.0
84.2
76.0
65.8
74.0
84.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
65.6
64.0
65.6
67.1
86.7
84.3
86.7
89.1
86.7
84.3
86.7
89.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
64.7
62.7
63.0
65.9
80.5
75.0
81.9
86.7
80.5
75.0
81.9
86.7
LBO/VC/Mezz (Large)
70.3
56.3
61.2
94.4
88.2
72.5
85.8
101.6
88.2
72.5
85.8
101.6
83.3
56.0
62.7
96.0
128.6
90.5
126.7
164.7
128.6
90.5
126.7
164.7
LBO/VC/Mezz (Small)
68.6
60.0
64.1
68.7
92.4
66.0
70.2
78.9
92.4
66.0
70.2
78.9
LBO/VC/Mezz (All)
15
73.2
58.0
63.0
98.7
100.4
67.0
80.0
125.0
100.4
67.0
80.0
125.0
All Firms
21
71.2
56.0
63.0
93.3
96.6
66.0
81.0
105.0
96.6
66.0
81.0
105.0
Firm Classification

Venture Partner/Operations Partner
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
215.4
182.7
215.4
248.1
512.2
468.3
512.2
556.1
512.2
468.3
512.2
556.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
241.0
215.5
241.0
266.5
405.0
342.5
405.0
467.5
405.0
342.5
405.0
467.5
192.6
150.0
190.0
280.8
376.9
280.0
424.4
530.0
376.9
280.0
424.4
530.0
340.6
348.3
387.5
437.5
418.1
348.3
427.3
497.1
418.1
348.3
427.3
497.1
202.8
175.0
200.0
227.8
220.8
175.0
205.0
250.8
220.8
175.0
205.0
250.8
175.1
89.9
145.0
234.5
195.5
89.9
190.0
281.0
198.0
89.9
190.0
292.3
14
246.8
122.5
252.1
359.1
266.3
125.0
280.2
374.6
267.4
125.0
282.5
374.6
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
337.3
271.2
327.9
393.8
449.5
387.3
451.9
532.4
449.5
387.3
451.9
532.4
172.3
150.0
200.0
200.0
186.7
100.0
200.0
210.0
186.7
100.0
200.0
210.0
LBO/VC/Mezz (Small)
191.8
93.3
207.8
270.7
243.3
93.3
280.4
328.2
245.4
93.3
284.9
335.7
LBO/VC/Mezz (All)
18
234.9
112.5
224.7
306.4
296.3
125.0
280.7
412.0
297.1
125.0
288.2
412.0
All Firms
20
228.8
100.0
200.0
306.4
289.4
100.0
280.0
412.0
290.2
100.0
280.0
412.0
Firm Classification

Venture Partner/Operations Partner - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.7%
0.4%
0.7%
1.0%
4.83
3.25
4.83
6.42
8.83
5.25
8.83
12.42
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.6%
0.2%
0.4%
0.8%
2.78
0.76
1.22
3.25
5.77
2.15
2.71
6.33
0.4%
0.2%
0.3%
0.4%
1.47
1.13
1.50
1.82
1.98
1.48
2.20
2.59
0.7%
0.5%
0.7%
0.8%
2.13
1.69
2.13
2.56
3.74
2.61
3.74
4.87
0.6%
0.6%
0.6%
0.6%
0.32
0.24
0.33
0.41
0.63
0.31
0.33
0.80
0.5%
0.3%
0.4%
0.5%
1.20
0.45
1.18
1.66
1.92
0.66
1.45
2.40
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.5%
0.2%
0.3%
0.5%
2.81
1.50
1.67
2.13
4.72
1.67
2.20
2.98
0.5%
0.2%
0.3%
0.7%
1.65
0.98
1.25
2.13
3.53
2.29
3.10
4.55
0.6%
0.6%
0.6%
0.6%
0.43
0.28
0.43
0.56
1.05
0.32
0.94
1.53
LBO/VC/Mezz (All)
12
0.5%
0.2%
0.4%
0.6%
1.73
0.65
1.01
1.78
3.20
1.14
1.93
3.01
All Firms
12
0.5%
0.2%
0.3%
0.6%
1.66
0.49
0.77
1.67
3.07
0.77
1.67
2.98
LBO/VC/Mezz (Small)

Non-Investment Positions - Operations and Administration
JobDescriptions
AS01.ChiefOperatingOcer(COO):Thispositionnormallyexistsatthelargerprivateequityrms;theCOOisresponsibleforthenondealmakingaspectsofthe
organization,includinginternalbusinessoperationssuchashumanresources,nance/accounting,compliance,andtechnology.Thepositionalsomayoverseefund
raising,marketing,andcommunications.

AS02.Administrative/OceManager:Thispositionsupervisessupportstaandoverseesroutineadministrativefunctionsoftherm. ReportstotheManaging
GeneralPartnerorCOOorCFO,dependingonthesizeoftherm.

AS03.ExecutiveAssistant:ThispositionprovidesfullsecretarialandadministrativesupporttotheCEO/ManagingPartnerandotherSeniorPartnersincluding
seOingupofmeetingsandconferencecalls;orderingandreceivingsuppliesfortheoce;puOingtogethernumerousreports;sendingoutmailings;andresponding
tovariousotherrequests.

AS04.Secretary/Administrator:Providessecretarialandadministrativeforindividualinvestmentexecutivesorforthewholeinvestmentteam
AS05.Receptionist:Responsibleforreceptiondutiesfortherm.
Observations
AS01The50thpercentile(median)salaryplusbonusfortheCOOforallPrivateEquity/VCrmsis$525,000($953,000forlargeLBOrmsand$750,000forlarge
VCrms);carriedinterestpercentofthefundis0.9%forallrms;andcarriedinterestdollarsatworkfromallactivefundsis$4.97million.
02 The50thpercentile(median)salaryplusbonusfortheAdministrative/OceManagerpositionis$97,000forallrms($90,000forLBOrms;$101,000forVC
rms;and$122,000forInstitutionalrms.24%ofthesermsallocatecarriedinteresttothisposition(50%LBOand15%VC).Carriedinterestrepresents0.1%ofthe
fundand$180,000dollarsatwork.
AS03The50thpercentile(median)salaryplusbonusfortheExecutiveAssistantpositionis$79,000forallrms($78,000atLBOrms;$81,000atVCrms;and
$83,000atInstitutionalrms).AfewrmsallocatecarriedinteresttothispositionbutitissmallenoughtobepreOymuchmeaningless.
AS04The50thpercentile(median)salaryplusbonusfortheSecretary/Administratorpositionis$62,000forallrms(about$60,000forLBOrms,$68,00forVC
rmsand$53,000forInstitutionalrms).
AS05The50thpercentile(median)salaryplusbonusfortheReceptionistpositionis$55,000forallrms(fromalowof$41,000atLBOrmsto$57,000atVCrms
and$50,000atInstitutionalrms).

Chief Operating Officer (COO)
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
591.7
400.0
400.0
687.5
809.2
726.3
952.5
963.8
1,568.0
848.9
1,197.9
2,101.9
300.0
200.0
300.0
400.0
583.0
524.5
583.0
641.5
622.2
583.2
622.2
661.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
404.8
175.0
400.0
475.0
607.9
474.5
600.0
889.4
1,000.4
511.1
622.2
1,073.4
641.7
525.0
550.0
712.5
725.0
650.0
750.0
812.5
725.0
650.0
750.0
812.5
387.5
331.3
387.5
443.8
427.5
391.3
427.5
463.8
427.5
391.3
427.5
463.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
475.0
331.3
500.0
537.5
530.0
391.3
537.5
700.0
530.0
391.3
537.5
700.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
483.3
237.5
325.0
650.0
811.7
705.0
975.0
1,000.0
1,502.9
751.4
1,025.0
2,015.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
385.0
135.0
237.5
487.5
637.5
355.0
705.0
987.5
1,155.9
387.1
751.4
1,520.3
LBO/VC/Mezz (Large)
616.7
425.0
525.0
793.8
767.1
600.0
812.5
933.1
1,146.5
600.0
812.5
1,117.2
10
343.8
231.3
387.5
500.0
505.3
438.3
483.0
550.0
524.8
463.8
522.2
583.2
102.0
78.0
102.0
126.0
102.0
78.0
102.0
126.0
102.0
78.0
102.0
126.0
LBO/VC/Mezz (All)
18
439.9
243.8
450.0
512.5
569.0
438.3
525.0
781.3
765.2
463.8
547.2
781.3
All Firms
21
415.8
150.0
400.0
500.0
576.2
375.0
525.0
875.0
802.3
385.7
547.2
875.0
Firm Classification
LBO/VC/Mezz (Small)

Chief Operating Officer (COO) - Continued

Administrative/ Office Manager
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
80.1
64.7
80.5
95.9
106.9
89.8
113.1
130.1
116.3
98.7
131.8
149.3
79.8
77.0
82.5
90.3
92.5
80.8
95.0
104.0
243.6
98.0
109.4
114.2
Firm Classification

46.9
30.4
53.8
65.5
53.4
30.4
59.0
76.1
53.4
30.4
59.0
76.1
14
70.5
50.8
76.0
85.0
85.5
68.5
90.1
107.1
152.9
68.5
101.0
118.0
85.3
66.0
86.5
105.8
98.8
89.1
106.0
115.8
98.8
89.1
106.0
115.8
10
90.0
74.5
93.0
101.8
103.8
90.8
106.0
116.8
103.8
90.8
106.0
116.8
87.5
76.8
84.8
89.8
97.8
86.0
92.8
106.3
101.3
86.0
92.8
122.2
20
88.0
71.3
88.4
101.8
99.5
85.0
100.7
116.8
101.0
85.0
101.1
122.5
53.0
49.5
53.0
56.5
69.0
68.0
69.0
70.0
69.0
68.0
69.0
70.0
Mezzanine (Small)
77.5
76.3
77.5
78.8
148.5
136.8
148.5
160.3
179.0
152.0
179.0
206.0
Mezzanine (All)
65.3
56.5
69.8
76.3
108.8
56.5
106.1
136.8
124.0
70.0
106.1
152.0
96.8
93.9
96.8
99.6
127.3
123.5
127.3
131.2
127.3
123.5
127.3
131.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
96.8
93.9
96.8
99.6
127.3
123.5
127.3
131.2
127.3
123.5
127.3
131.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
104.6
100.0
108.9
111.5
122.5
121.8
123.9
124.0
122.5
121.8
123.9
124.0
80.3
77.5
80.0
80.0
105.7
96.0
102.0
102.0
105.7
96.0
102.0
102.0
Institutional (All)
92.5
81.5
88.5
104.5
114.1
106.4
121.8
124.0
114.1
106.4
121.8
124.0
82.7
66.0
80.5
105.8
102.9
89.1
110.1
120.2
107.5
89.1
116.0
129.1
11
82.3
68.0
85.0
95.0
94.3
73.5
95.0
111.0
176.7
79.5
107.0
116.5
LBO/VC/Mezz (Small)
13
72.6
65.0
78.0
87.6
93.6
73.0
92.9
119.6
100.0
73.0
92.9
125.0
LBO/VC/Mezz (All)
32
78.5
63.8
80.0
91.3
96.2
72.5
95.0
118.2
128.2
72.5
103.0
124.3
All Firms
46
79.7
66.5
80.0
92.0
97.8
73.0
97.0
119.6
126.3
73.0
107.0
124.3
LBO/VC/Mezz (Large)

Administrative/ Office Manager - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.0%
0.0%
0.0%
0.0%
0.1
0.1
0.1
0.1
0.2
0.2
0.2
0.2
0.1%
0.0%
0.0%
0.1%
0.2
0.1
0.2
0.2
0.3
0.1
0.2
0.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.1%
0.0%
0.0%
0.1%
0.1
0.1
0.1
0.2
0.2
0.1
0.1
0.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.3%
0.2%
0.3%
0.3%
0.1
0.1
0.1
0.1
0.4
0.4
0.4
0.5
0.1%
0.0%
0.1%
0.2%
0.1
0.0
0.1
0.1
0.2
0.0
0.1
0.3
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.0%
0.0%
0.0%
0.0%
0.1
0.1
0.1
0.1
0.2
0.2
0.2
0.2
0.1%
0.0%
0.1%
0.2%
0.2
0.1
0.1
0.2
0.3
0.1
0.2
0.2
0.2%
0.1%
0.2%
0.3%
0.2
0.1
0.1
0.3
0.4
0.2
0.5
0.6
LBO/VC/Mezz (All)
10
0.1%
0.0%
0.1%
0.2%
0.2
0.1
0.1
0.2
0.3
0.1
0.2
0.4
All Firms
11
0.1%
0.0%
0.0%
0.2%
0.10
0.00
0.07
0.13
0.18
0.00
0.09
0.25
LBO/VC/Mezz (Small)

Executive Assistant
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
69.0
58.3
71.2
80.9
82.4
70.6
81.3
94.8
82.4
70.6
81.4
94.8
72.8
59.6
73.1
86.3
89.2
87.9
95.0
96.3
89.2
87.9
95.0
96.3
52.1
44.2
57.8
64.3
56.7
47.8
65.8
74.6
59.8
47.8
65.8
77.3
18
64.2
52.0
63.4
80.5
75.3
66.5
78.3
93.9
76.4
66.5
80.4
95.0
11
89.2
74.5
92.3
102.5
99.3
81.3
111.5
112.8
99.3
81.3
111.5
112.8
60.7
55.0
68.0
70.0
65.1
55.0
70.0
78.0
65.1
55.0
70.0
78.0
Firm Classification
66.8
48.9
56.7
78.5
72.2
51.4
57.0
79.6
72.2
51.4
57.0
79.6
24
76.2
56.9
71.8
100.0
83.6
58.1
80.5
111.7
83.6
58.1
80.5
111.7
69.5
62.3
69.5
76.8
95.0
95.0
95.0
95.0
19.2
95.0
95.0
95.0
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
69.5
62.3
69.5
76.8
95.0
95.0
95.0
95.0
95.0
95.0
95.0
95.0
68.0
61.5
75.0
78.0
81.0
75.5
89.0
90.5
81.0
75.5
89.0
90.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
68.0
61.5
75.0
78.0
81.0
75.5
89.0
90.5
81.0
75.5
89.0
90.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
90.8
78.7
84.0
99.5
97.7
86.6
95.0
107.5
97.7
86.6
95.0
107.5
66.1
61.1
66.1
66.1
74.0
69.7
74.0
74.0
83.4
83.0
83.4
83.4

80.9
73.3
76.3
84.0
88.3
78.2
82.6
95.0
92.0
82.6
84.1
95.0
LBO/VC/Mezz (Large)
18
80.0
65.2
81.2
98.1
91.1
71.8
90.7
111.8
91.1
71.8
90.7
111.8
11
66.6
55.0
68.0
77.3
76.1
63.5
78.0
95.0
76.1
63.5
78.0
95.0
LBO/VC/Mezz (Small)
13
61.4
51.0
58.8
65.7
69.1
56.0
65.6
80.0
70.5
56.0
65.6
95.0
LBO/VC/Mezz (All)
42
70.7
55.4
67.3
84.8
80.4
61.8
78.7
98.8
80.8
61.8
79.7
98.8
All Firms
54
71.2
55.5
68.5
84.5
80.8
63.7
79.3
97.5
81.4
63.8
80.8
97.6
Institutional (All)

Secretary/ Administrator
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
55.1
47.2
48.7
60.9
64.7
51.9
57.8
74.6
64.7
51.9
57.8
74.6
60.0
54.5
66.0
68.5
65.7
59.0
75.0
77.0
213.2
64.8
79.0
294.5
Firm Classification
47.8
35.9
59.2
67.8
49.9
42.4
62.3
67.8
49.9
42.4
62.3
67.8
14
54.0
45.0
50.0
67.0
60.4
50.7
60.1
75.0
94.4
50.7
60.1
79.0
73.1
62.0
79.9
81.7
79.0
66.0
85.0
86.2
79.0
66.0
85.0
86.2
66.0
63.0
66.0
69.0
74.0
71.0
74.0
77.0
74.0
71.0
74.0
77.0
33.4
25.7
33.4
41.1
34.9
26.5
34.9
43.4
36.2
27.1
36.2
45.2

14
62.7
60.0
62.0
79.9
68.1
62.0
68.0
85.0
68.4
62.0
68.0
85.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
49.5
46.8
49.5
52.3
55.7
51.3
55.7
60.0
55.7
51.3
55.7
60.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
49.5
46.8
49.5
52.3
55.7
51.3
55.7
60.0
55.7
51.3
55.7
60.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
67.7
60.6
67.7
74.7
71.8
64.7
71.8
79.0
71.8
64.7
71.8
79.0
50.4
42.7
47.0
47.0
51.2
44.2
48.6
48.6
51.2
44.2
48.6
48.6
Institutional (All)
11
56.2
46.5
50.8
69.7
58.1
48.3
53.3
70.6
58.1
48.3
53.3
70.6
LBO/VC/Mezz (Large)
11
60.7
47.7
60.0
72.2
68.0
56.4
62.0
82.3
68.0
56.4
62.0
82.3
62.4
60.0
66.0
71.0
69.0
68.0
75.0
79.0
157.5
68.0
79.0
80.0
39.2
24.7
46.8
48.5
42.0
26.5
52.3
53.2
42.4
26.6
53.2
54.1
LBO/VC/Mezz (All)
22
55.2
47.2
55.0
66.8
61.2
52.0
61.0
78.0
81.4
52.7
61.0
79.4
All Firms
42
56.3
47.1
57.5
70.8
61.6
50.7
62.0
78.0
78.1
50.7
62.0
79.4
LBO/VC/Mezz (Small)

Receptionist
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
53.0
45.3
55.0
63.1
58.5
47.9
60.2
70.7
58.5
47.9
60.2
70.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
18.2
11.8
18.2
24.6
18.2
11.8
18.2
24.6
19.7
12.6
19.7
26.9
41.1
34.0
38.0
55.0
44.0
34.5
40.8
60.2
44.5
36.0
40.8
60.2
52.7
51.5
55.0
58.0
59.1
55.0
59.0
61.4
59.1
55.0
59.0
61.4
42.0
38.0
42.0
46.0
44.5
39.3
44.5
49.8
44.5
39.3
44.5
49.8
30.8
30.7
30.8
30.9
31.0
31.0
31.0
31.0
32.5
31.7
32.5
33.2
Firm Classification
13
48.8
34.0
53.0
55.0
52.5
34.0
57.1
61.0
52.8
34.0
57.1
61.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
42.5
36.3
42.5
48.8
45.5
37.8
45.5
53.3
45.5
37.8
45.5
53.3
60.0
59.0
60.0
61.0
65.5
63.3
65.5
67.8
65.5
63.3
65.5
67.8
32.2
30.3
32.2
32.2
33.2
30.8
33.2
33.2
33.2
30.8
33.2
33.2
Institutional (All)
46.1
34.1
47.0
59.0
49.3
35.6
49.5
63.3
49.3
35.6
49.5
63.3
12
53.0
47.9
54.5
59.0
57.8
53.2
58.8
63.6
57.8
53.2
58.8
63.6
40.7
36.0
38.0
44.0
42.3
36.0
38.0
46.5
42.3
36.0
38.0
46.5
LBO/VC/Mezz (Small)
22.3
18.0
30.7
30.8
22.5
18.2
31.0
31.0
23.5
18.2
31.3
32.5
LBO/VC/Mezz (All)
18
45.9
34.8
49.0
55.0
49.3
35.0
54.6
60.5
49.5
35.0
54.6
60.5
All Firms
26
45.9
33.3
49.0
55.8
49.3
33.8
54.6
61.0
49.5
34.0
54.6
61.0
LBO/VC/Mezz (Large)

Non-Investment Positions - Finance
JobDescriptions
FN01.ChiefFinancialOcer(CFO):Thisseniorlevelprofessionalheadsupnance/accountingforthermanditslimitedpartnerships.Thepositionalsomay
haveresponsibilityforthebusinessoperationsoftherm,suchashumanresources,complianceandtechnology.Atlargerrms,theCFOmayreporttotheCOO.
FN02.Controller:Thisprofessionalperformsaccounting,nancialmonitoring,reportingandsimilarservices.ReportstotheManagingGeneralPartnerorCOOor
CFO,dependingonthesizeoftherm.

FN03.AssistantController:ThispositionassiststheControllerand/orCFOwiththeirvariousdutiesandresponsibilities.
FN04.SeniorAccountant:Performsatleasttwoaccountingfunctions,suchasaccountspayable,accountsreceivable,orbookkeeping.
FN05.JuniorAccountant:Juniormemberofthenanceteam,typicallywouldnotbequalied,responsiblefordaytodaymaintenanceofaccountsrecords.
FN06.FundAccountant:Predominantlyanadministrativeposition,responsibleformaintainingadministrativerecordsandworkingonreconciliationstatements
forfunds.Assistsinpreparationoffundportfoliostatementsandprot&lossreportingonfunds.

Observations
th percentile(median)salaryplusbonusfortheCFOpositionisreasonablyclosebetweenLBO($311,000)andVCrms($345,000).LBOrmsdid
FN01The50

haveanadditional$112,000ofcarriedinterestdistributionswhereas othertypesofrmshadliOleornone. Carriedinterestallocations(notdistributions)asa
percentofthefundwere0.4%forLBOforms;0.7%forVCrms;and0.2%forInstitutionalrms.Carriedinterestdollarsatworkwere$3.48millioninLBOrms;
$4.50millioninVCrms;and$13.24millioninInstitutionalrms.
FN 02 The 50th percentile (median) salary plus bonus for the Controller position is $174,000. It ranges from $180,000 for LBO rms to $214,000 in VC rms; to
$175,000inInstitutionalrms.(NotethatsomermsdonothaveaCFOposition.Whenthisoccurs,theControllertendstobepaidhigherthaniftherewereaCFO
position).38%ofrmsallocatecarriedinteresttothisposition.Thecarriedinterestpercentofthefundis0.1andthedollarsatworkare$600,000.
FN03The50thpercentile(median)salaryplusbonusfortheAssistantControllerpositionis$135,000.Itisabout$114,000inLBOrms,$150,000inVCrms,and
$139,000atInstitutionalrms.Thispositiondoesnotreceivecarriedinterestfromsurveyparticipants.
FN 04. The 50th percentile (median) salary plus bonus for the Senior Accountant position is $95.000. It is $95,000 in both LBO and VC rms and $93,000 in
Institutionalrms.
FN05 The50thpercentile(median)salaryplusbonusfortheJuniorAccountantpositionis$66,000.Itvariesfrom$61,000inVCrmsto$66,000inLBO and
Institutionalrms.Notethatthesamplesizeissomewhatsmall.
FN06The50thpercentile(median)salaryplusbonusfortheFundAccountantpositionis$97,000.Itis$114,000inLBOrms,$98,000inVCrms,and$76,000in
Institutionalrms.Thesamplesizeissomewhatsmall.


Chief Financial Officer (CFO)
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
290.4
239.0
250.0
315.0
483.6
311.0
422.5
591.7
687.1
345.0
544.4
959.0
238.8
182.5
212.5
268.8
301.3
259.0
277.5
319.8
568.6
259.0
277.5
587.1
181.9
174.4
182.4
188.8
278.5
259.8
274.8
291.3
379.9
290.0
389.6
460.0
17
252.7
200.0
225.0
290.0
392.4
280.0
311.0
422.5
586.9
293.0
422.5
602.0
446.7
386.0
430.5
490.0
548.2
496.5
512.0
571.3
551.2
496.5
512.0
581.8
280.0
250.0
300.0
300.0
356.0
300.0
345.0
390.0
356.2
300.0
345.0
390.0
Firm Classification
195.4
200.0
200.0
208.0
221.7
200.0
228.4
244.0
280.5
200.0
228.4
244.0
21
300.1
200.0
300.0
385.0
362.5
238.0
345.0
493.0
388.8
238.0
350.0
500.0
165.0
147.5
165.0
182.5
296.0
279.0
296.0
313.0
296.0
279.0
296.0
313.0
Mezzanine (Small)
128.8
118.1
128.8
139.4
184.8
151.1
184.8
218.4
184.8
151.1
184.8
218.4
Mezzanine (All)
146.9
124.4
143.0
162.5
240.4
218.4
258.5
279.0
240.4
218.4
258.5
279.0
287.2
230.7
287.2
343.6
405.8
371.1
405.8
440.4
405.8
371.1
405.8
440.4
110.0
102.5
110.0
117.5
110.0
102.5
110.0
117.5
116.0
105.5
116.0
126.5
Fund of Funds (All)
198.6
117.5
149.7
230.7
257.9
117.5
230.8
371.1
260.9
126.5
236.8
371.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
351.8
209.7
245.0
440.5
507.2
340.8
345.0
592.5
507.2
340.8
345.0
592.5
197.3
146.0
150.0
150.0
246.7
171.0
192.0
192.0
254.3
182.5
214.9
214.9

274.6
156.1
209.7
286.3
376.9
228.1
340.8
384.8
380.7
245.3
340.8
384.8
LBO/VC/Mezz (Large)
16
359.8
248.8
337.5
442.9
511.9
348.8
506.0
582.9
627.6
404.4
528.2
661.5
10
255.5
200.0
245.0
300.0
331.5
279.5
315.0
378.8
438.6
280.3
315.0
378.8
LBO/VC/Mezz (Small)
16
179.4
161.3
200.0
200.9
239.6
200.0
250.1
268.8
298.0
200.0
250.1
313.1
LBO/VC/Mezz (All)
42
266.3
200.0
220.0
322.5
365.2
254.5
310.5
458.1
457.0
254.5
340.8
529.4
All Firms
53
262.8
185.0
215.0
320.0
358.2
249.8
310.0
446.3
439.8
249.8
336.5
512.0
Institutional (All)

Chief Financial Officer (CFO) - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.5%
0.2%
0.4%
0.8%
2.83
1.31
2.38
3.10
4.35
2.19
3.93
5.74
0.5%
0.4%
0.6%
0.7%
3.08
2.02
3.00
4.06
5.55
3.38
5.90
8.07
0.6%
0.3%
0.5%
0.9%
1.21
0.71
0.93
1.49
1.21
0.71
0.93
1.49
15
0.5%
0.2%
0.4%
0.8%
2.57
0.98
2.27
3.20
4.04
1.31
3.48
6.00
0.4%
0.3%
0.6%
0.8%
2.09
1.30
2.07
2.86
12.26
5.92
7.16
13.50
0.5%
0.3%
0.3%
0.9%
1.20
0.71
0.81
1.00
2.95
1.42
1.70
4.50
1.7%
0.4%
1.0%
1.8%
1.51
0.22
0.43
1.71
3.52
1.20
1.35
4.51
14
0.9%
0.3%
0.7%
0.9%
1.57
0.55
1.22
2.54
5.81
1.37
4.50
6.60
0.3%
0.1%
0.3%
0.4%
1.74
1.30
1.74
2.17
1.83
1.45
1.83
2.22
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
0.3%
0.3%
0.5%
0.5%
1.56
1.04
1.34
1.90
1.95
1.63
2.24
2.40
0.4%
0.3%
0.4%
0.4%
1.25
1.23
1.25
1.28
5.28
5.06
5.28
5.49
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
0.3%
0.3%
0.3%
0.4%
1.17
1.10
1.20
1.25
4.18
3.43
4.85
5.28
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.4%
0.2%
0.3%
0.6%
1.70
1.05
1.20
2.10
12.09
2.88
4.85
17.69
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
0.3%
0.1%
0.2%
0.4%
1.42
0.82
1.05
1.65
9.48
1.45
3.24
11.27
LBO/VC/Mezz (Large)
13
0.5%
0.2%
0.4%
0.8%
2.58
1.30
2.38
2.86
6.98
3.21
4.94
6.85
10
0.5%
0.2%
0.4%
0.8%
2.09
0.83
1.70
2.90
3.96
1.49
3.38
6.10
LBO/VC/Mezz (Small)
11
1.0%
0.3%
0.5%
1.2%
1.31
0.54
1.04
1.46
2.67
0.92
1.78
3.35
LBO/VC/Mezz (All)
34
0.7%
0.3%
0.5%
0.8%
2.01
0.87
1.33
2.80
4.63
1.35
3.48
6.49
All Firms
37
0.6%
0.3%
0.4%
0.8%
1.93
0.87
1.20
2.80
4.81
1.35
3.48
6.49


Controller
Firm Classification
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
10
147.3
115.0
136.6
156.1
216.6
162.5
198.4
224.5
255.5
169.9
201.0
315.5
136.4
120.0
150.0
156.0
159.0
126.0
180.0
182.0
364.9
176.3
180.0
182.0
76.6
56.1
75.0
92.5
101.7
75.6
92.2
117.4
101.7
75.6
92.2
117.4
19
129.5
103.0
124.0
153.0
177.3
123.0
180.0
198.4
251.9
129.3
182.0
252.0
10
230.5
182.5
222.0
244.4
284.7
230.5
265.6
312.5
284.7
230.5
265.6
312.5
126.3
121.4
127.8
135.6
146.0
126.3
142.3
168.0
146.0
126.3
142.3
168.0
105.2
100.5
112.5
117.2
117.5
111.7
128.5
134.3
117.5
111.7
128.5
134.3
20
167.0
122.8
165.5
216.0
209.7
131.5
214.0
264.7
209.7
131.5
214.0
264.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
150.8
113.8
127.5
176.3
278.2
154.9
189.7
357.4
278.2
154.9
189.7
357.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
138.1
100.0
113.8
151.9
234.9
116.3
154.9
273.5
236.2
117.5
154.9
273.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
97.5
71.3
112.5
131.3
100.9
76.4
122.7
136.4
100.9
76.4
122.7
136.4
167.7
130.3
140.6
178.0
214.5
173.4
185.5
226.5
214.5
173.4
185.5
226.5
131.5
124.8
142.0
142.0
157.2
145.9
164.0
164.0
157.2
145.9
164.0
164.0
Institutional (All)
149.6
130.3
142.0
152.5
185.8
157.5
174.6
191.5
185.8
157.5
174.6
191.5
LBO/VC/Mezz (Large)
19
177.0
136.6
169.7
222.0
239.2
198.4
225.0
278.3
259.6
201.0
247.0
311.0
12
130.0
115.0
139.0
146.3
152.2
129.0
149.8
175.5
237.9
133.8
163.5
177.2
95.0
72.0
112.0
123.8
118.5
88.0
127.7
141.1
118.5
88.0
127.7
141.1
LBO/VC/Mezz (All)
40
144.4
115.0
132.1
163.9
185.9
131.5
177.0
221.3
221.4
132.4
181.0
251.2
All Firms
56
144.8
115.0
134.3
162.0
188.2
129.0
174.0
220.0
217.8
131.5
180.0
247.0
LBO/VC/Mezz (Small)

Controller Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.1%
0.1%
0.1%
0.1%
0.70
0.58
0.68
0.81
1.15
0.91
1.11
1.35
0.2%
0.1%
0.1%
0.2%
0.35
0.17
0.29
0.49
0.65
0.17
0.29
0.94
0.1%
0.1%
0.1%
0.1%
0.15
0.13
0.16
0.18
0.15
0.13
0.16
0.18
0.1%
0.1%
0.1%
0.1%
0.46
0.20
0.50
0.70
0.76
0.20
0.60
1.20
0.1%
0.1%
0.1%
0.2%
0.58
0.45
0.51
0.70
1.70
0.70
0.75
2.58
0.2%
0.2%
0.2%
0.3%
0.31
0.19
0.25
0.38
0.34
0.26
0.30
0.38
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
10
0.2%
0.1%
0.2%
0.3%
0.43
0.23
0.44
0.58
1.02
0.30
0.60
0.74
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
10
0.1%
0.1%
0.1%
0.2%
0.64
0.50
0.60
0.76
1.46
0.70
1.01
1.80
0.2%
0.1%
0.1%
0.3%
0.33
0.18
0.29
0.45
0.47
0.22
0.30
0.45
LBO/VC/Mezz (Small)
0.1%
0.1%
0.1%
0.1%
0.15
0.13
0.16
0.18
0.20
0.15
0.21
0.25
LBO/VC/Mezz (All)
20
0.2%
0.1%
0.1%
0.2%
0.45
0.20
0.45
0.65
0.90
0.29
0.60
1.11
All Firms
21
0.1%
0.0%
0.1%
0.2%
0.36
0.10
0.30
0.60
0.77
0.11
0.30
0.95

LBO/VC/Mezz (Large)

Assistant Controller
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
95.3
74.0
83.0
115.0
123.6
96.0
114.0
157.7
123.6
96.0
114.0
157.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
76.6
52.4
76.6
100.8
89.6
58.9
89.6
120.3
89.6
58.9
89.6
120.3
89.9
72.0
83.0
120.0
113.9
92.6
114.0
154.4
113.9
92.6
114.0
154.4
129.4
127.6
133.3
138.4
154.4
143.0
157.7
160.4
154.4
143.0
157.7
160.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
100.0
87.5
125.0
125.0
108.7
87.5
125.0
138.0
108.7
87.5
125.0
138.0
Firm Classification
10
121.2
113.8
126.7
134.9
136.2
117.5
150.4
158.1
136.2
117.5
150.4
158.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
94.7
92.3
94.7
97.0
125.6
124.3
125.6
126.8
125.6
124.3
125.6
126.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
94.7
92.3
94.7
97.0
125.6
124.3
125.6
126.8
125.6
124.3
125.6
126.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
122.7
107.3
123.3
138.6
144.4
139.5
146.8
151.6
144.4
139.5
146.8
151.6
97.6
88.9
97.6
97.6
115.1
106.7
115.1
115.1
135.9
134.0
135.9
135.9
Institutional (All)
114.3
102.0
112.5
131.1
134.6
125.3
138.5
147.6
141.6
134.0
142.4
147.6
12
123.1
99.5
128.4
134.8
148.9
114.8
153.5
159.1
148.9
114.8
153.5
159.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
85.5
50.0
104.4
125.0
95.5
50.0
123.5
125.0
95.5
50.0
123.5
125.0
LBO/VC/Mezz (All)
17
112.1
83.0
125.0
130.0
125.8
100.5
131.7
157.5
131.9
111.0
131.7
157.5
All Firms
26
110.9
86.5
115.0
132.1
127.9
113.0
135.2
157.2
131.3
114.0
138.3
157.2
LBO/VC/Mezz (Small)

Senior Accountant
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
91.9
70.0
73.9
87.0
119.9
90.0
98.9
103.0
123.3
90.0
103.0
115.9
83.5
79.3
83.5
87.8
92.0
83.5
92.0
100.5
110.0
92.5
110.0
127.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
80.3
69.6
74.5
88.3
99.9
82.6
94.5
104.5
106.5
82.6
96.5
123.2
10
99.1
80.5
87.0
102.5
111.0
87.0
100.6
118.3
111.0
87.0
100.6
118.3
75.0
75.0
75.0
75.0
75.0
75.0
75.0
75.0
75.0
75.0
75.0
75.0
Firm Classification

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
13
89.3
75.0
85.0
95.0
102.0
75.0
94.8
113.0
102.0
75.0
94.8
113.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
68.0
64.0
68.0
72.0
80.3
72.6
80.3
87.9
80.3
72.6
80.3
87.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
68.0
64.0
68.0
72.0
80.3
72.6
80.3
87.9
80.3
72.6
80.3
87.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
77.1
72.1
76.0
81.5
90.6
84.4
95.5
99.3
90.6
84.4
95.5
99.3
77.7
71.5
83.0
83.0
85.9
81.4
91.0
91.0
85.9
81.4
91.0
91.0

Institutional (All)
LBO/VC/Mezz (Large)
77.4
70.2
79.5
86.0
88.2
77.7
93.0
95.4
88.2
77.7
93.0
95.4
14
88.9
72.2
85.0
93.5
106.2
86.4
97.5
111.1
107.4
86.4
99.5
115.2
80.4
70.8
76.0
85.0
88.8
75.0
75.0
109.0
96.0
75.0
75.0
110.0
45.8
30.7
45.8
60.9
55.6
35.6
55.6
75.5
55.6
35.6
55.6
75.5
LBO/VC/Mezz (All)
21
82.7
73.9
79.0
89.0
97.2
81.9
95.5
109.0
99.8
81.9
95.5
113.0
All Firms
30
82.9
71.7
79.0
89.0
97.4
75.0
95.0
107.1
99.5
75.0
95.0
111.5
LBO/VC/Mezz (Small)

Junior Accountant
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
26.7
16.3
26.7
37.1
29.2
17.6
29.2
40.9
29.2
17.6
29.2
40.9
48.1
47.5
53.0
61.0
53.5
52.5
65.7
66.8
53.5
52.5
65.7
66.8
60.7
60.6
60.7
60.7
67.6
66.7
67.6
68.6
67.6
66.7
67.6
68.6
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
122.0
122.0
122.0
122.0
145.0
145.0
145.0
145.0
145.0
145.0
145.0
145.0
51.7
45.1
56.0
60.6
56.9
49.4
61.1
66.7
56.9
49.4
61.1
66.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
56.0
54.5
56.0
57.4
65.5
63.8
65.5
67.2
65.5
63.8
65.5
67.2
LBO/VC/Mezz (Large)
61.7
60.5
60.8
61.0
68.8
65.8
66.8
69.5
68.8
65.8
66.8
69.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
37.6
30.0
44.2
50.4
41.8
31.5
48.1
56.6
41.8
31.5
48.1
56.6
51.0
47.5
58.9
60.8
56.8
52.5
65.8
68.9
56.8
52.5
65.8
68.9
12
51.3
47.5
58.9
60.8
57.5
52.5
65.8
68.9
57.5
52.5
65.8
68.9
Firm Classification
LBO/VC/Mezz (All)
All Firms

Fund Accountant
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
103.9
78.3
97.5
123.0
127.7
93.7
115.3
149.3
130.6
93.7
115.3
152.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
103.8
95.6
103.8
111.9
114.3
105.9
114.3
122.6
114.3
105.9
114.3
122.6
103.8
81.9
101.3
118.8
123.2
96.4
114.3
133.6
125.1
96.4
114.3
133.6
75.0
72.0
80.0
83.6
88.2
82.5
96.0
97.9
88.2
82.5
96.0
97.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
87.8
76.0
84.7
95.4
98.9
89.3
98.4
107.5
98.9
89.3
98.4
107.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
68.7
50.5
55.0
80.0
84.3
60.3
74.5
103.5
84.3
60.3
74.5
103.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
68.7
50.5
55.0
80.0
84.3
60.3
74.5
103.5
84.3
60.3
74.5
103.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
71.4
67.7
71.4
75.1
76.4
72.7
76.4
80.1
76.4
72.7
76.4
80.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
71.4
67.7
71.4
75.1
76.4
72.7
76.4
80.1
76.4
72.7
76.4
80.1
LBO/VC/Mezz (Large)
94.4
75.0
83.6
108.1
113.3
89.0
97.9
125.8
115.2
89.0
97.9
125.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
103.8
95.6
103.8
111.9
114.3
105.9
114.3
122.6
114.3
105.9
114.3
122.6
LBO/VC/Mezz (All)
96.8
78.3
87.4
116.3
113.5
93.7
98.6
131.9
114.9
93.7
98.6
131.9
15
91.2
73.3
87.2
115.0
106.5
85.2
97.5
131.0
107.5
85.2
97.5
131.0
Firm Classification
All Firms

Non-Investment Positions - Marketing and Investor Relations
JobDescriptions
MK01.ChiefMarketingOcer/HeadofMarketing:Thisprofessionalisresponsibleforfundraisingandotherlimitedpartnerrelations,includingquarterlyreports
andregularlyscheduledmeetings.
MK 02. Marketing Manager: Supports the Head of Marketing in fundraising and other limited partner relations, including quarterly reports and regularly
scheduledmeetings.Insmallerrmsmaybetheonlymarketingrole.
IR01.InvestorRelationsDirector/HeadofInvestorRelations:Leadroleincommunicationswithbothinvestorsandpress,communicatinggroupsstrategy,fund
performanceandmessagesasagreedbytheCEO/ManagingPartnerandseniormanagementteam.Rolemaybetakenbyaseniorpartnerinthebusinessandmay
alsoincorporatethemarketingfunction.

IR02.InvestorRelationsManager:ProvidessupportandassistancetotheInvestorRelationsDirectorincommunicatingwithfundinvestors,bothregularandad
hoc.

Observations
Samplesizeforthesepositionsisquitesmallsosomeofthedatacanbeoutoflinewiththecompetitivemarketplace
MK01The50thpercentile(median)salaryplusbonusfortheChiefMarketingOcerpositionis$240,000forallrms.Itis$261,000atVCrmsand$240,000at
LBOrms.33%ofthesermsallocatecarriedinteresttothisposition,representing0.6%ofthefundand$700,000dollarsatwork.
MK02The50thpercentile(median)salaryplusbonusfortheMarketingManagerpositionis$146,000forallrms($146,000forLBOrmsand$217,000forVC
rms).62%ofrmshaveCarriedInterest.Itis0.1%ofthemostrecentfundand$1.1milliondollarsatworkfromallactivefunds. The62%and$1.1million are
higherthanfortheMK01position,whichdoesnotseemtomakesense.Itmaybeduetothesizeofrmsmatchingthetwopositions.
IR 01 The 50th percentile (median) salary plus bonus for the Investor Relations Director position is $292,000. The LBO rms gure is $302,000 and Institutional
rmsis$305,000whiletheVCgureisonly$210,000(butasmallsampleofonlytworms).63%ofthesermsallocatecarriedinteresttothisposition.Thepercent
ofthefundis0.1andthedollarsatworkare$600,000.
IR02The50thpercentile(median)salaryplusbonusfortheInvestorRelationsManagerpositionis$150,000butrangesfromalowof $110,000atVCrmstoa
highof$187,000atLBOrms.31%ofrmshavecarriedinterestbutthedollarsatworkareonly$100,000.

Chief Marketing Officer/ Head of Marketing
Firm Classification
#
Firms
Base Salary ($000)

Avg.
25th
50th

75th
Avg.
25th
50th

75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
320.0
230.0
320.0
410.0
320.0
230.0
320.0
410.0
345.6
268.4
345.6
422.8
95.5
65.8
95.5
125.3
138.0
87.0
138.0
189.0
138.0
87.0
138.0
189.0
201.2
140.0
155.0
175.0
232.7
140.0
240.0
247.5
245.0
191.2
240.0
257.8
275.0
168.8
227.5
335.0
313.8
206.0
277.6
385.4
313.8
206.0
277.6
385.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
252.0
155.0
196.0
280.0
299.0
208.0
261.4
347.2
299.0
208.0
261.4
347.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
195.0
192.5
195.0
197.5
425.0
412.5
425.0
437.5
425.0
412.5
425.0
437.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
195.0
192.5
195.0
197.5
425.0
412.5
425.0
437.5
425.0
412.5
425.0
437.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
256.0
175.0
175.0
280.0
300.5
208.0
247.5
347.2
302.6
208.0
257.8
347.2
320.0
230.0
320.0
410.0
320.0
230.0
320.0
410.0
345.6
268.4
345.6
422.8
LBO/VC/Mezz (Small)
95.5
65.8
95.5
125.3
138.0
87.0
138.0
189.0
138.0
87.0
138.0
189.0
LBO/VC/Mezz (All)
234.6
150.0
175.0
280.0
268.7
200.0
240.0
347.2
275.6
200.0
240.0
347.2
12
227.0
150.0
175.0
280.0
282.3
200.0
240.0
400.0
288.1
200.0
240.0
400.0
All Firms

Chief Marketing Officer/ Head of Marketing - Continued
Carried Interest
Firm Classification
# Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO / Growth Equity (Mid-Size)
1.0%
0.5%
1.0%
1.5%
1.07
0.66
1.07
1.47
1.07
0.66
1.07
1.47
LBO / Growth Equity (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.7%
0.1%
0.1%
1.0%
1.04
0.63
1.00
1.44
1.18
0.83
1.41
1.64
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.1%
0.1%
0.1%
0.1%
1.0
1.0
1.0
1.0
1.4
1.4
1.4
1.4
1.0%
0.1%
0.1%
1.5%
1.07
0.66
1.07
1.47
1.07
0.66
1.07
1.47
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.7%
0.1%
0.1%
1.0%
1.04
0.63
1.00
1.44
1.18
0.83
1.41
1.64
All Firms
1.3%
0.1%
0.1%
2.0%
1.18
0.63
1.00
1.87
1.50
0.83
1.41
1.87

Marketing Manager
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
116.0
91.5
116.0
140.5
185.3
139.5
146.0
211.5
620.7
205.0
277.0
864.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
109.0
72.0
116.0
125.0
168.1
133.0
146.0
175.0
429.3
133.0
175.0
277.0
186.8
174.0
200.0
212.8
214.8
184.0
215.1
245.8
214.8
184.0
215.1
245.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
186.8
174.0
200.0
212.8
214.8
184.0
216.6
245.8
214.8
184.0
216.6
245.8
63.5
61.8
63.5
65.3
104.0
89.5
104.0
118.5
104.0
89.5
104.0
118.5
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
63.5
61.8
63.9
65.3
104.0
1.0
106.9
118.5
104.0
89.5
106.9
118.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
174.4
125.0
200.0
200.0
206.8
175.0
210.0
220.1
206.8
175.0
210.0
220.1
102.0
65.3
91.5
128.3
157.8
118.5
139.5
178.8
484.3
118.5
205.0
570.8
LBO/VC/Mezz (Small)
69.5
68.3
69.5
70.8
121.3
115.4
121.3
127.1
121.3
115.4
121.3
127.1
LBO/VC/Mezz (All)
11
129.0
69.5
116.0
182.5
173.4
121.3
146.0
215.1
292.1
121.3
175.0
248.6
All Firms
13
133.3
70.8
116.0
200.0
178.1
127.1
146.0
220.1
286.9
127.1
175.0
277.0
Firm Classification

Marketing Manager - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th

Avg.
25th
50th
75th
0.0%
0.0%
0.0%
0.0%
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.3%
0.2%
0.4%
0.5%
1.31
0.47
0.50
1.75
2.84
1.07
1.60
4.00
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.2%
0.0%
0.2%
0.4%
1.08
0.42
0.47
1.13
2.23
0.49
1.07
2.80
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.1%
0.1%
0.1%
0.1%
1.3
0.8
1.3
1.8
2.2
1.3
2.2
3.1
0.3%
0.0%
0.1%
0.5%
1.31
0.47
0.50
1.75
2.84
1.07
1.60
4.00
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.2%
0.0%
0.1%
0.3%
1.17
0.44
0.47
1.81
2.23
0.53
1.07
3.37
All Firms
0.2%
0.0%
0.1%
0.3%
1.08
0.41
0.44
2.25
2.20
0.53
1.07
3.96

Investor Relations Director/ Head of Investor Relations
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
174.8
115.6
210.5
235.3
294.0
296.8
313.2
341.3
304.4
296.8
313.2
341.3
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
94.3
64.0
94.3
124.7
129.3
81.5
129.3
177.2
129.3
81.5
129.3
177.2
154.6
74.0
177.5
225.8
252.8
194.8
301.7
323.8
260.6
194.8
301.7
323.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
188.3
162.9
188.3
213.6
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
188.3
162.9
188.3
213.6
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
123.7
75.0
150.0
185.5
319.0
303.5
315.0
332.5
325.0
312.6
333.1
341.6
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
145.3
112.5
180.0
212.8
308.8
288.5
303.5
323.8
313.3
288.5
312.6
337.3
LBO/VC/Mezz (Large)
174.8
115.6
210.5
235.3
294.0
296.8
313.2
341.3
304.4
296.8
313.2
341.3
188.3
162.9
188.3
218.0
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
LBO/VC/Mezz (Small)
94.3
64.0
100.4
124.7
129.3
81.5
138.9
177.2
129.3
81.5
138.9
177.2
LBO/VC/Mezz (All)
10
161.4
100.0
177.5
234.5
244.2
181.9
271.8
314.1
250.4
181.9
271.8
314.1
All Firms
16
160.7
100.0
185.0
221.0
259.1
198.8
292.0
315.0
264.6
198.8
292.0
328.6
Firm Classification

Investor Relations Director/ Head of Investor Relations - Continued
Carried Interest
Firm Classification
# Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.01%
0.01%
0.01%
0.02%
0.14
0.12
0.14
0.15
0.14
0.12
0.14
0.15
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.01%
0.01%
0.01%
0.02%
0.14
0.12
0.14
0.15
0.14
0.12
0.14
0.15
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.10%
0.10%
0.10%
0.10%
0.32
0.22
0.34
0.41
0.59
0.36
0.64
0.83
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.04%
0.01%
0.02%
0.06%
0.26
0.14
0.17
0.34
0.45
0.14
0.17
0.62
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.06%
0.02%
0.06%
0.10%
0.23
0.12
0.15
0.26
0.36
0.12
0.15
0.39
All Firms
0.05%
0.01%
0.02%
0.10%
0.28
0.12
0.17
0.51
0.41
0.12
0.17
0.75

Investor Relations Manager
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
135.0
150.0
150.0
150.0
188.2
150.0
224.3
230.0
196.9
150.0
224.3
230.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
115.5
82.5
150.0
150.0
159.8
106.1
187.1
228.6
167.1
106.1
187.1
228.6
149.4
121.9
148.8
149.4
144.1
122.5
150.0
168.7
144.1
122.5
150.0
168.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
107.5
95.0
109.8
148.8
115.2
95.0
110.0
150.0
115.2
95.0
110.0
150.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
115.0
107.5
115.0
122.5
146.3
123.1
146.3
169.4
146.3
123.1
146.3
169.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
115.0
107.5
115.0
122.5
146.3
123.1
146.3
169.4
146.3
123.1
146.3
169.4
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
151.2
141.3
165.0
168.1
200.7
178.5
239.5
242.2
215.3
178.5
239.5
264.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
151.2
141.3
165.0
168.1
200.7
178.5
239.5
242.2
215.3
178.5
239.5
264.1
LBO/VC/Mezz (Large)
131.3
121.9
150.0
150.0
174.7
122.5
187.4
227.1
181.0
122.5
187.4
227.1
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
108.0
68.8
124.4
150.0
138.5
92.4
125.0
215.0
142.8
92.4
125.0
215.0
16
115.2
95.0
139.4
150.0
146.7
95.0
150.0
224.3
151.7
95.0
150.0
224.3
Firm Classification
All Firms

Investor Relations Manager - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
0.0%
0.0%
0.0%
0.0%
0.14
0.12
0.14
0.15
0.14
0.12
0.14
0.15
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.0%
0.0%
0.0%
0.0%
0.14
0.12
0.14
0.15
0.14
0.12
0.14
0.15
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.1%
0.1%
0.1%
0.1%
0.21
0.06
0.16
0.32
0.40
0.06
0.21
0.59
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
0.0%
0.0%
0.0%
0.1%
0.26
0.14
0.17
0.34
0.45
0.14
0.17
0.62
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.0%
0.0%
0.0%
0.1%
0.15
0.03
0.11
0.16
0.24
0.03
0.11
0.16
All Firms
0.0%
0.0%
0.0%
0.1%
0.17
0.00
0.10
0.17
0.24
0.00
0.10
0.17

Non-Investment Positions - Legal, Human Resources and Information Technology
JobDescriptions
LG01.ChiefLegalCounsel:Thisprofessionalisresponsibleforcoordinatinglegalworkbyoutsidecounsel.Italsomayprovidelegaladviceonfundformation,
enteringandexitingportfoliocompanies,andassistingportfoliocompanies.

LG02.Compliance&RiskOcer:Responsibleforensuringthatthermisincompliancewithallrelevantregulations.Ensuresadequatemonitoringofinvestment
activities,undertakesauditsofinvestmentproceduresandadvisesCEO/ManagingPartnerandLegalteamonallcompliancerelatedissues.

HR 01. Chief Human Resources/ Talent Ocer: This professional is responsible for various Human Resources functions, such as recruiting, performance
management,compensationandemployeebenets.Oftenrecruitsexecutivesforportfoliocompanies.

HR 02. Human Resources Manager: Responsible for daytoday administration of HR functions, including payroll, stang and recruitment. Implements and
monitorsHRprogrammersandstrategyasdeterminedbyseniorexecutives.

HR03.HumanResourcesExecutiveAssistant:ProvidesadministrativeandsecretarialsupporttotheHRDirectorandHRManager
IT 01. Chief Technology Ocer: This position is responsible for purchasing and operating computer networks and various software and hardware. It also is
responsibleforcommunicationssystems(phones,etc).

IT02.InformationTechnologyManager:WorkswithHeadofIToroutsourcedITsupporttomanagethermsITapplicationsandinfrastructure.Insmallerrms
maybethemostseniorITposition.
Observations
LG01The50thpercentile(median)salaryplusbonusfortheChiefLegalCounselpositionis$455,000.Itis$415,000atInstitutionalrmsand$399,000atVC
rms.69%ofrmsallocatecarriedinteresttothisposition.Thetypicalpercentofthefundis0.42andthedollarsatworkare$1.59million.
LG 02. The 50% percentile (median) salary plus bonus for the Compliance & Risk Ocer position is $264.000. Only six rms matched this position. Carried
interestdatawasnotsucienttobemeaningful.
HR01The50thpercentilesalaryplusbonusfortheChiefHumanResourcesOcerwas$204,000($255,000atVCrmsand$142,000atLBOrms).45%ofrms
providecarriedinteresttothispositionThecarriedinterestdollarsatworkare$420,000.
HR 02 The 50th percentile (median) salary plus bonus for the Human Resources Manager position is $122,000. 22% of rms allocate carried interest to this
position..Thedollarsatwork.Are$200,000.
HR03Nodata.
IT01&02The50th percentile(median)salaryplusbonusis$173,000fortheChiefTechnologyOcerpositionand$120,000fortheInformationTechnology
Manager.Carriedinterestdatawasnotsucienttobemeaningful.


Chief Legal Counsel
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
445.0
350.0
380.0
420.0
500.2
375.0
455.0
546.0
503.0
375.0
469.0
546.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
390.7
337.5
366.0
400.0
434.4
367.5
399.0
500.5
436.4
367.5
403.2
507.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
457.1
410.0
420.0
485.6
632.4
473.0
546.0
748.6
632.4
473.0
546.0
748.6
212.5
168.8
212.5
212.5
283.5
217.8
283.5
283.5
353.8
323.1
353.8
353.8
Institutional (All)
359.3
300.0
400.0
420.0
492.9
400.0
415.0
546.0
521.0
400.0
415.0
546.0
LBO/VC/Mezz (Large)
445.0
350.0
380.0
420.0
500.2
375.0
455.0
546.0
503.0
375.0
469.0
546.0
493.5
321.8
493.5
665.3
518.5
349.3
518.5
687.8
518.5
349.3
518.5
687.8
LBO/VC/Mezz (Small)
598.5
479.3
598.5
717.8
608.5
484.3
608.5
732.8
608.5
484.3
608.5
732.8
LBO/VC/Mezz (All)
489.9
350.0
380.0
750.0
528.3
375.0
455.0
750.0
529.9
375.0
469.0
750.0
16
452.6
325.0
380.0
551.3
527.0
375.0
455.0
750.0
533.7
375.0
469.0
750.0
Firm Classification
All Firms

Chief Legal Counsel - Continued
Carried Interest
Firm Classification
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.3%
0.2%
0.4%
0.5%
2.39
2.09
2.39
2.70
5.24
4.12
5.24
6.36
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.5%
0.1%
0.4%
0.6%
1.63
1.29
1.76
2.09
3.74
2.25
3.95
5.22
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.5%
0.3%
0.5%
0.6%
5.25
4.13
5.25
6.38
5.25
4.13
5.25
6.38
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.23
0.16
0.23
0.23
Institutional (All)
0.5%
0.3%
0.5%
0.6%
5.25
4.13
5.25
6.38
2.74
0.29
1.68
4.13
LBO/VC/Mezz (Large)
0.4%
0.3%
0.5%
0.6%
2.39
2.09
2.39
2.70
5.24
4.12
5.24
6.36
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
1.0%
0.5%
1.0%
1.5%
1.51
1.41
1.51
1.62
3.03
2.31
3.03
3.74
LBO/VC/Mezz (All)
0.5%
0.1%
0.4%
0.6%
1.82
1.31
1.72
1.78
3.62
1.59
3.00
4.46
11
0.4%
0.0%
0.2%
0.6%
1.91
1.31
1.72
2.39
2.78
0.35
1.59
4.46
All Firms

Compliance & Risk Officer
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
191.0
186.5
191.0
195.5
264.0
263.0
264.0
265.0
264.0
263.0
264.0
265.0
LBO/VC/Mezz (Large)
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
All Firms
295.9
175.0
191.0
500.0
444.9
212.5
264.0
818.8
444.9
212.5
264.0
818.8
Firm Classification

Chief Human Resources/ Talent Officer
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
215.0
122.5
150.0
275.0
228.3
142.4
150.0
275.0
228.3
142.4
150.0
275.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
170.3
80.3
122.5
212.5
180.2
110.1
142.4
212.5
180.2
110.1
142.4
212.5
296.5
244.8
296.5
348.3
313.5
270.3
313.5
356.8
313.5
270.3
313.5
356.8
187.5
168.8
187.5
206.3
210.0
180.0
210.0
240.0
210.0
180.0
210.0
240.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
242.0
182.3
213.8
268.8
261.8
207.8
255.0
302.5
261.8
207.8
255.0
302.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
221.5
207.3
221.5
235.8
285.0
256.0
285.0
314.0
285.0
256.0
285.0
314.0
LBO/VC/Mezz (Large)
209.5
136.3
171.5
244.8
228.0
146.2
188.5
270.3
228.0
146.2
188.5
270.3
187.5
168.8
187.5
206.3
210.0
180.0
210.0
240.0
210.0
180.0
210.0
240.0
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
178.4
122.5
150.0
209.0
195.4
142.4
150.0
248.5
195.4
142.4
150.0
248.5
11
192.8
135.0
171.5
225.0
215.9
150.0
203.5
270.0
215.9
150.0
203.5
270.0
Firm Classification
All Firms

Chief Human Resources/ Talent Officer - Continued
Carried Interest
Firm Classification
# Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.55%
0.32%
0.60%
0.79%
1.15
0.98
1.19
1.33
1.50
1.50
1.50
1.50
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
0.04%
0.02%
0.04%
0.06%
0.75
0.38
0.75
1.13
0.80
0.45
0.80
1.15
LBO/VC/Mezz (Large)
0.1%
0.0%
0.1%
0.1%
0.94
0.66
0.94
1.22
0.96
0.69
0.96
1.23
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.28%
0.02%
0.05%
0.32%
0.67
0.28
0.59
0.98
0.85
0.31
0.96
1.50
All Firms
0.21%
0.00%
0.03%
0.08%
0.62
0.00
0.38
1.15
0.77
0.05
0.42
1.50

Human Resources Manager
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
126.6
97.4
126.6
155.8
172.5
134.7
172.5
210.2
173.1
135.7
173.1
210.6
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
58.0
42.0
58.0
74.0
62.0
44.0
62.0
80.0
62.0
44.0
62.0
80.0
98.3
68.3
90.0
122.0
118.2
97.0
98.0
122.0
129.7
98.0
98.2
178.3
205.0
195.0
205.0
215.0
244.0
242.0
244.0
246.0
244.0
242.0
244.0
246.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
166.7
137.5
189.0
205.0
195.3
169.0
240.8
244.0
195.3
169.0
240.8
244.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
159.4
126.6
185.0
205.0
195.0
168.5
240.0
244.0
195.4
169.1
240.0
244.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
58.0
42.0
58.0
74.0
62.0
44.0
62.0
80.0
62.0
44.0
62.0
80.0
LBO/VC/Mezz (All)
119.4
73.7
106.0
169.3
138.5
97.2
110.0
210.5
148.1
98.1
138.2
224.6
All Firms
122.0
79.1
122.0
185.0
143.2
97.5
122.0
240.0
150.9
98.0
140.0
240.0
Firm Classification

Human Resources Manager - Continued
Carried Interest
Firm Classification
# Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.03%
0.02%
0.03%
0.04%
0.22
0.18
0.22
0.25
0.49
0.33
0.49
0.65
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Large)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
0.01%
0.01%
0.01%
0.01%
0.15
0.15
0.15
0.15
0.18
0.18
0.18
0.18
All Firms
0.03%
0.01%
0.03%
0.04%
0.22
0.15
0.22
0.29
0.49
0.18
0.49
0.80

Chief Technology Officer
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
175.0
175.0
175.0
175.0
210.0
205.0
210.0
215.0
210.0
205.0
210.0
215.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
175.0
175.0
175.0
175.0
210.0
205.0
210.0
215.0
210.0
205.0
210.0
215.0
135.9
121.3
132.6
148.8
150.8
139.7
151.4
162.2
150.8
139.7
151.4
162.2
142.5
128.8
142.5
156.3
157.5
136.3
157.5
178.8
157.5
136.3
157.5
178.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
138.5
115.0
139.1
165.0
153.5
128.0
155.7
173.0
153.5
128.0
155.7
173.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
157.5
148.8
157.5
166.3
187.0
170.5
187.0
203.5
187.0
170.5
187.0
203.5
LBO/VC/Mezz (Large)
151.5
132.6
165.0
175.0
174.5
151.4
173.0
200.0
174.5
151.4
173.0
200.0
142.5
128.8
142.5
156.3
157.5
136.3
157.5
178.8
157.5
136.3
157.5
178.8
LBO/VC/Mezz (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LBO/VC/Mezz (All)
148.9
123.8
165.0
172.5
169.6
139.7
173.0
200.0
169.6
139.7
173.0
200.0
10
150.3
132.6
165.0
175.0
179.9
151.4
173.0
200.0
179.9
151.4
173.0
200.0
Firm Classification
All Firms

Information Technology Manager
Base Salary ($000)
#
Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
128.0
93.9
123.4
157.5
150.6
114.8
134.7
170.5
150.6
114.8
134.7
170.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
70.4
50.6
70.4
90.2
75.4
53.1
75.4
97.7
75.4
53.1
75.4
97.7
108.8
88.0
103.4
140.0
125.5
105.6
119.7
142.5
125.5
105.6
119.7
142.5
206.1
85.6
168.0
178.5
155.8
92.9
190.0
212.0
155.8
92.9
190.0
212.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
82.5
68.8
82.5
96.3
87.5
71.3
87.5
103.8
87.5
71.3
87.5
103.8
124.1
66.3
133.2
177.0
140.6
72.8
148.0
192.0
140.6
72.8
148.0
192.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (Small)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Mezzanine (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund of Funds (All)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
126.5
105.8
126.5
147.3
145.5
123.3
145.5
167.8
145.5
123.3
145.5
167.8
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Institutional (All)
126.5
105.8
126.5
147.3
145.5
123.3
145.5
167.8
145.5
123.3
145.5
167.8
10
128.4
88.0
127.5
174.8
146.1
104.0
134.7
191.5
146.1
104.0
134.7
191.5
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm Classification
LBO/VC/Mezz (Large)
65.3
42.9
60.5
82.5
68.6
42.9
61.5
87.5
68.6
42.9
61.5
87.5
LBO/VC/Mezz (All)
13
113.8
66.3
105.0
168.0
128.2
72.8
119.4
190.0
128.2
72.8
119.4
190.0
All Firms
18
116.4
75.6
105.0
168.0
133.0
86.9
120.0
190.0
133.0
86.9
120.0
190.0
LBO/VC/Mezz (Small)
PE/VC Compensation
North America
EXECUTIVE SUMMARY
FINANCIAL AND
OPERATIONAL DATA
HUMAN CAPITAL
COMPENSATION
STRATEGY
YEAR TO YEAR
CHANGES IN
COMPENSATION
LEVELS
VII. Compensation Levels By Type & Size of Firm
COMPENSATION
LEVELS PER POSITION
(BY TYPE & SIZE OF
FIRM)
COMPENSATION
OF FIRM (INCLUDES
ASIA PACIFIC)
Compensation Levels by Type and Size of Firm

Sample Groups and Observations
LargeLBO/GrowthEquity
MidSizeLBO/GrowthEquity
SmallLBO/GrowthEquity
AllLBO/GrowthEquity
TheLBOdatamakesgoodsensewithoneexception.ThePE03PartnerpositionforsmallLBO
firmsshowsahighersalaryplusbonusthanPE01andPE02atthe50thpercentile.Thesameis
truewhencarriedinterestdistributionsareincluded.
LargeVentureCapital
MidSizeVentureCapital
SmallVentureCapital
AllVentureCapital
TherearesomedifferenceswiththePE05andPE06positionswhichareattributedtosmall
samplesizes.
MidSize&LargeMezzanine
SmallMezzanine
AllMezzanine
TherewereonlyafewparticipantsthatwereMezzaninefirms.Thissmallsamplesizecausesa
fewanomalieswiththedata.Ifthesamplesizeistwoorthree,onefirmcanberealhighorreal
lowandcausethesampletobeaboveorbelowactualmarketplacepractices.
LargeLBO/VC/Mezz
MidSizeLBO/VC/Mezz
SmallLBO/VC/Mezz
AllLBO/VC/Mezz
Again,thesmallsizefirmsareimpactedbythePE03Partnerpositionwhich,evenwithalarger
samplesize,stillcompensateshigheratthe50thpercentilethanthePE02position.However,PE02
ishigherattheAverageand75thpercentileandPE01isnowhigher.
LargeFundofFunds
MidSizeFundofFunds
AllFundofFunds
Dataallmakessense
LargeInstitutional
Small&MidSizeInstitutional
AllInstitutional

Large LBO/Growth Equity
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Managing General Partner/CEO
PE01
11
1,106.3
450.0
750.0
1,834.0
11
3,235.0
2,000.0
2,200.0
2,387.5
11
6,367.7
4,864.8
6,138.0
7,894.8
Senior Partner/Senior Managing Director
PE02
10
601.4
471.9
547.3
690.8
10
1,804.8
854.6
1,271.5
1,679.8
10
3,404.3
2,366.2
2,752.5
5,090.9
Partner/Managing Director
PE03
11
541.4
327.2
400.0
543.8
11
885.4
650.6
822.0
988.1
11
1,356.0
836.4
978.0
1,813.5
Principal/VP/Director
PE04
12
252.3
185.6
238.1
292.6
12
458.7
387.9
426.0
473.0
12
556.8
419.0
476.0
688.4
Senior Associate
PE05
11
182.1
140.4
184.9
207.1
11
320.2
246.6
302.8
350.6
11
281.4
235.3
263.5
328.4
Associate
PE06
11
137.5
101.2
125.0
150.0
11
234.3
187.9
200.0
235.0
11
244.0
192.3
210.0
260.0
Senior Analyst
PE07
98.7
90.6
93.6
101.4
166.8
147.9
160.0
176.3
172.6
147.9
167.5
195.0
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
215.4
182.7
215.4
248.1
512.2
468.3
512.2
556.1
512.2
468.3
512.2
556.1
Chief Operating Officer
AS01
591.7
400.0
400.0
687.5
809.2
726.3
952.5
963.8
1,568.0
848.9
1,197.9
2,101.9
Administrative/Office Manager
AS02
87.1
62.0
85.0
105.0
117.3
76.9
119.0
151.3
141.4
93.6
119.0
163.5
Executive Assistant
AS03
69.0
58.3
71.2
80.9
82.4
70.6
81.3
94.8
82.4
70.6
81.4
94.8
AS04
54.6
47.3
48.0
57.3
64.2
53.1
57.3
69.8
64.2
53.1
57.3
69.8
Receptionist
AS05
53.4
45.3
55.0
63.1
58.5
47.9
60.2
70.7
58.5
47.9
60.2
70.7
Chief Financial Officer
FN01
290.4
239.0
250.0
315.0
483.6
311.0
422.5
591.7
687.1
345.0
544.4
959.0
Controller
FN02
10
147.3
115.0
136.6
156.1
10
216.6
162.5
198.4
224.5
10
255.5
169.9
201.0
315.5
FN03
90.5
79.8
88.5
99.3
120.2
108.9
113.6
124.9
120.2
108.9
113.6
124.9
Senior Accountant
FN04
91.9
70.0
73.9
87.0
119.9
90.0
98.9
103.0
123.3
90.0
103.0
115.9
Junior Accountant
FN05
62.3
57.0
61.0
67.0
69.7
66.2
66.8
71.7
69.7
66.2
66.8
71.7
Fund Accountant
FN06
103.9
78.3
97.5
123.0
127.7
93.7
115.3
149.3
130.6
93.7
115.3
152.1
Chief Marketing Officer/Head of Marketing
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Investor Relations/Head of Investor Relations
IR01
174.8
115.6
210.5
235.3
294.0
296.8
313.2
341.3
304.4
296.8
313.2
341.3
IR02
135.0
150.0
150.0
150.0
188.2
150.0
224.3
230.0
196.9
150.0
224.3
230.0
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Compliance and Risk Officer
LG02
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
Chief Human Resources/Talent Officer
HR01
247.5
171.3
247.5
323.8
267.4
201.1
267.4
333.7
267.4
201.1
267.4
333.7
HR02
126.6
97.4
126.6
155.8
172.5
134.7
172.5
210.2
173.1
135.7
173.1
210.6
IT01
175.0
175.0
175.0
175.0
210.0
205.0
210.0
215.0
210.0
205.0
210.0
215.0
IT02
128.0
93.9
123.4
157.5
150.6
114.8
134.7
170.5
150.6
114.8
134.7
170.5

Large LBO/Growth Equity - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
11
5.0%
3.4%
4.2%
5.8%
Avg.
25th
50th
75th
11
40.9
28.8
46.6
53.4
Avg.
25th
50th
75th
11
76.5
51.0
76.4
108.7
PE02
2.7%
1.3%
2.0%
PE03
11
1.2%
0.8%
1.1%
3.7%
20.9
13.6
21.6
1.5%
11
8.8
5.2
7.7
26.2
36.7
23.9
40.4
50.4
11.3
11
15.3
7.4
12.6
PE04
11
0.5%
0.3%
0.4%
0.6%
12
3.6
2.0
20.1
2.6
4.7
12
4.6
2.6
3.4
Senior Associate
PE05
0.3%
0.2%
0.2%
0.2%
2.0
6.4
0.6
1.5
2.8
2.2
0.7
1.5
Associate
PE06
0.2%
0.1%
0.1%
0.2%
3.8
1.4
0.6
0.7
1.5
1.5
0.6
0.8
Senior Analyst
PE07
N/A
N/A
N/A
N/A
1.7
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
PE09
0.7%
0.4%
N/A
0.7%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1.0%
4.8
3.2
4.8
6.4
8.8
5.2
8.8
12.4
AS01
0.9%
0.5%
AS02
0.01%
0.01%
0.6%
0.01%
1.2%
10.1
4.6
5.3
13.1
18.6
5.9
7.4
25.6
0.01%
0.1
0.1
0.1
0.2
0.2
0.2
0.2
Executive Assistant
AS03
N/A
N/A
N/A
0.2
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.5%
N/A
0.2%
0.4%
0.8%
2.8
1.3
2.4
3.1
4.3
2.2
3.9
Controller
FN02
5.7
0.1%
0.1%
0.1%
0.1%
0.7
0.6
0.7
0.8
1.2
0.9
1.1
FN03
1.4
0.0%
0.0%
0.0%
0.0%
0.2
0.1
0.2
0.2
0.2
0.1
0.2
Senior Accountant
0.2
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
0.1%
0.0%
0.1%
0.2%
1.8
0.7
1.0
2.1
1.9
1.0
1.2
2.1
IR02
0.0%
0.0%
0.0%
0.0%
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.2
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE01

Firm

Firm

Mid-Size LBO/Growth Equity
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
629.8
379.2
600.0
775.0
1,568.2
1,069.0
1,350.0
2,039.2
4,041.1
1,375.0
2,694.7
5,669.3
PE02
570.8
383.3
425.0
612.5
740.0
597.4
694.9
837.5
3,817.0
722.5
2,579.2
5,673.7
PE03
430.0
350.0
400.0
450.0
590.0
500.0
650.0
650.0
995.5
500.0
650.0
700.0
PE04
263.3
197.5
220.8
318.8
379.0
317.5
371.0
435.0
753.0
317.5
407.7
751.7
Senior Associate
PE05
171.3
146.3
156.9
167.5
268.3
252.3
275.0
285.0
307.5
252.3
285.0
295.0
Associate
PE06
130.7
111.3
135.0
155.0
218.5
183.5
204.5
271.3
218.5
183.5
204.5
271.3
Senior Analyst
PE07
99.2
93.3
100.0
105.5
193.9
171.3
176.7
207.8
193.9
171.3
176.7
207.8
Analyst
PE08
84.4
74.7
93.3
98.7
138.1
107.7
153.3
176.2
138.1
107.7
153.3
176.2
PE09
120.0
85.0
120.0
155.0
165.0
107.5
165.0
222.5
165.0
107.5
165.0
222.5
AS01
300.0
200.0
300.0
400.0
583.0
524.5
583.0
641.5
622.2
583.2
622.2
661.1
AS02
78.3
73.8
80.0
86.8
90.4
75.3
95.0
98.0
312.6
89.5
109.4
327.8
Executive Assistant
AS03
65.9
52.0
60.0
80.0
78.8
60.3
82.5
95.0
78.8
60.3
82.5
95.0
AS04
60.0
54.5
66.0
68.5
65.7
59.0
75.0
77.0
213.2
64.8
79.0
294.5
Receptionist
AS05
34.5
32.8
34.5
36.3
34.5
32.8
34.5
36.3
36.0
35.0
36.0
37.0
FN01
226.5
177.5
200.0
225.0
289.8
250.0
262.0
293.0
503.7
250.0
262.0
293.0
Controller
FN02
136.4
120.0
150.0
156.0
159.0
126.0
180.0
182.0
364.9
176.3
180.0
182.0
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
83.5
79.3
83.5
87.8
92.0
83.5
92.0
100.5
110.0
92.5
110.0
127.5
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
265.0
147.5
155.0
327.5
293.3
190.0
240.0
370.0
310.4
215.6
240.0
370.0
Marketing Manager
MK02
116.0
91.5
116.0
140.5
185.3
139.5
146.0
211.5
620.7
205.0
277.0
864.5
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
106.0
98.0
106.0
114.0
110.0
104.0
110.0
116.0
138.1
118.1
138.1
158.2
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Mid-Size LBO/Growth Equity - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
12.0%
4.2%
5.3%
6.2%
27.0
20.8
25.8
31.5
40.1
31.7
34.6
54.3
PE02
4.0%
2.7%
3.6%
4.8%
13.1
5.5
11.5
19.1
24.7
9.0
18.9
34.6
PE03
2.2%
1.6%
2.0%
2.0%
6.3
4.5
4.8
8.7
8.1
5.0
8.3
10.6
PE04
1.0%
0.5%
0.8%
0.9%
2.7
2.0
2.4
3.0
3.9
2.7
4.0
4.9
Senior Associate
PE05
0.2%
0.1%
0.2%
0.2%
1.0
0.9
1.2
1.4
1.4
0.9
1.3
1.6
Associate
PE06
0.1%
0.0%
0.0%
0.2%
0.9
0.9
0.9
0.9
1.1
1.1
1.1
1.1
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
2.1%
1.5%
2.1%
2.6%
3.4
3.2
3.4
3.6
4.0
3.5
4.0
4.5
AS02
0.1%
0.0%
0.1%
0.2%
0.2
0.1
0.2
0.3
0.4
0.1
0.2
0.9
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
0.1%
0.0%
0.1%
0.1%
0.2
0.1
0.2
0.3
0.4
0.2
0.4
0.5
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.5%
0.4%
0.6%
0.7%
3.1
2.0
3.0
4.1
5.6
3.4
5.9
8.1
Controller
FN02
0.2%
0.1%
0.1%
0.2%
0.3
0.2
0.3
0.5
0.6
0.2
0.3
0.9
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
1.0%
0.5%
1.0%
1.5%
1.1
0.7
1.1
1.5
1.1
0.7
1.1
1.5
Marketing Manager
MK02
0.3%
0.2%
0.4%
0.5%
1.3
0.5
0.5
1.8
2.8
1.1
1.6
4.0
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Small LBO/Growth Equity
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
341.1
250.0
275.0
335.0
533.1
335.0
425.0
681.3
1,413.6
335.0
525.0
1,860.7
PE02
246.7
200.0
250.0
325.0
437.3
300.0
350.0
575.0
786.2
300.0
450.0
793.4
PE03
241.0
235.0
240.0
250.0
441.9
442.7
450.0
470.0
908.6
470.0
585.0
600.0
PE04
141.6
135.8
150.0
159.2
272.3
225.8
289.6
307.0
306.1
231.5
294.0
417.3
Senior Associate
PE05
99.9
86.5
107.5
122.5
168.6
118.5
201.7
223.9
169.4
118.5
201.7
227.6
Associate
PE06
85.4
73.4
96.5
108.5
150.4
135.7
176.5
191.3
150.4
135.7
176.5
191.3
Senior Analyst
PE07
63.3
49.9
85.0
87.5
113.2
82.4
150.0
162.4
113.2
82.4
150.0
162.4
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
35.8
25.7
30.9
41.0
40.8
25.7
30.9
46.1
40.8
25.7
30.9
46.1
Executive Assistant
AS03
52.3
41.9
60.0
65.7
56.9
45.1
69.0
76.5
60.6
45.1
69.0
80.0
AS04
47.8
35.9
55.9
67.8
49.9
42.4
60.2
67.8
49.9
42.4
60.2
67.8
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
183.3
175.0
185.0
192.5
290.0
272.5
280.0
302.5
425.2
370.2
435.0
485.1
Controller
FN02
76.6
56.1
72.0
92.5
101.7
75.6
91.3
117.4
101.7
75.6
91.3
117.4
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
94.3
64.0
94.3
124.7
129.3
81.5
129.3
177.2
129.3
81.5
129.3
177.2
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Small LBO/Growth Equity - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
5.3%
3.3%
4.3%
8.5%
8.6
4.7
9.2
13.4
8.4
4.7
8.3
13.4
PE02
2.7%
2.3%
2.7%
3.1%
4.5
2.7
4.3
6.8
5.1
2.7
4.8
6.8
PE03
1.7%
1.4%
1.6%
1.8%
3.2
1.8
2.3
4.4
3.2
1.8
2.3
4.4
PE04
0.6%
0.4%
0.5%
0.6%
0.8
0.7
0.8
0.8
0.9
0.8
0.8
1.1
Senior Associate
PE05
0.1%
0.1%
0.1%
0.1%
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.2
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.6%
0.3%
0.4%
0.9%
1.2
0.7
0.8
1.5
1.2
0.7
0.8
1.5
Controller
FN02
0.1%
0.1%
0.1%
0.1%
0.2
0.1
0.2
0.2
0.2
0.1
0.2
0.2
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

All LBO/Growth Equity
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
26
714.2
315.0
400.0
884.7
26
2,076.5
745.8
1,814.5
2,262.5
26
4,032.8
1,375.0
2,694.7
6,147.0
PE02
21
478.3
325.0
416.7
594.6
21
1,138.9
470.0
766.0
1,100.0
21
2,594.7
639.8
2,132.7
3,266.5
PE03
21
443.4
280.0
350.0
475.0
21
709.5
500.0
650.0
822.0
21
1,163.7
592.5
780.8
1,745.2
PE04
24
239.6
179.4
210.8
277.5
24
398.7
313.5
387.4
440.6
24
588.4
353.9
433.8
605.5
Senior Associate
PE05
22
166.2
128.8
153.4
196.2
22
279.7
229.8
259.6
304.5
22
297.0
233.5
259.6
306.3
Associate
PE06
19
129.7
102.1
125.0
150.0
19
220.7
184.4
200.0
222.5
19
226.3
184.4
203.0
237.5
Senior Analyst
PE07
11
96.8
90.0
92.3
101.8
11
173.3
152.5
166.0
178.3
11
176.5
152.5
174.4
190.0
Analyst
PE08
72.1
56.0
60.0
93.3
106.9
62.0
70.0
153.3
106.9
62.0
70.0
153.3
PE09
168.7
125.0
170.0
213.7
348.0
222.5
371.0
496.6
348.0
222.5
371.0
496.6
AS01
475.0
400.0
400.0
500.0
718.7
500.0
700.0
952.5
1,189.6
544.3
700.0
1,197.9
AS02
17
69.0
59.5
76.0
85.0
17
86.0
74.5
95.0
111.0
17
186.7
74.5
111.8
128.5
Executive Assistant
AS03
66.4
52.0
65.3
80.5
77.9
67.1
78.3
93.9
79.0
67.1
80.4
95.0
AS04
12
58.2
47.3
57.3
67.8
12
65.1
54.3
62.7
76.0
12
102.0
54.3
62.7
79.1
Receptionist
AS05
47.1
37.3
43.0
58.5
50.5
38.7
45.5
65.1
51.0
38.7
45.5
65.1
FN01
17
252.7
200.0
225.0
290.0
17
392.4
280.0
311.0
422.5
17
586.9
293.0
422.5
602.0
Controller
FN02
18
134.6
111.3
129.1
154.5
18
185.0
127.6
181.0
199.2
18
263.7
139.6
184.0
277.0
FN03
97.4
83.0
94.1
115.0
126.4
113.2
114.0
151.0
126.4
113.2
114.0
151.0
Senior Accountant
FN04
89.5
72.0
75.0
89.5
111.9
87.6
98.9
106.0
119.5
87.6
103.0
130.5
Junior Accountant
FN05
58.6
51.6
57.0
64.0
65.4
62.4
66.2
69.2
65.4
62.4
66.2
69.2
Fund Accountant
FN06
103.8
81.9
101.3
118.8
123.2
96.4
114.3
133.6
125.1
96.4
114.3
133.6
MK01
242.5
151.3
165.0
256.3
281.9
215.0
243.8
310.6
297.2
227.8
248.9
318.3
Marketing Manager
MK02
109.0
72.0
116.0
125.0
168.1
133.0
146.0
175.0
429.3
133.0
175.0
277.0
IR01
171.9
121.3
200.0
230.5
284.2
258.5
311.3
332.5
293.0
258.5
311.3
332.5
IR02
135.0
150.0
150.0
150.0
188.2
150.0
224.3
230.0
196.9
150.0
224.3
230.0
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
HR01
215.0
122.5
150.0
275.0
228.3
142.4
150.0
275.0
228.3
142.4
150.0
275.0
HR02
719.7
84.6
106.0
137.8
1,433.1
97.7
110.0
153.5
2,631.6
98.2
138.2
195.7
IT01
175.0
175.0
175.0
175.0
210.0
205.0
210.0
215.0
210.0
205.0
210.0
215.0
IT02
124.4
96.9
110.0
150.0
144.5
119.4
120.0
150.0
144.5
119.4
120.0
150.0

All LBO/Growth Equity - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
25
7.59%
3.55%
4.59%
7.57%
25
29.9
13.4
26.0
48.5
25
49.4
13.4
40.0
73.3
PE02
20
2.99%
1.82%
2.64%
4.08%
20
13.5
4.3
7.7
23.1
20
22.9
5.1
12.0
41.0
PE03
21
1.47%
1.00%
1.41%
2.00%
21
7.2
3.0
5.4
8.8
21
10.7
4.4
8.0
12.6
PE04
22
0.71%
0.34%
0.57%
0.87%
22
3.2
1.5
2.5
4.4
22
4.5
1.8
3.2
6.2
Senior Associate
PE05
16
0.23%
0.13%
0.20%
0.24%
16
1.5
0.5
1.2
1.5
16
1.8
0.7
1.3
2.2
Associate
PE06
0.20%
0.08%
0.10%
0.30%
1.2
0.6
0.7
0.8
1.2
0.6
0.8
1.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.61%
0.25%
0.29%
0.81%
3.3
1.0
1.3
4.7
7.0
2.5
3.1
9.6
AS01
1.37%
0.60%
1.00%
1.75%
7.4
3.8
3.9
5.3
12.7
4.5
5.0
7.4
AS02
12
0.05%
0.01%
0.02%
0.07%
12
0.1
0.1
0.1
0.2
12
0.3
0.1
0.2
0.3
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
0.04%
0.01%
0.01%
0.06%
0.2
0.1
0.1
0.2
0.3
0.1
0.1
0.4
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
15
0.52%
0.19%
0.40%
0.80%
15
2.6
1.0
2.3
3.2
15
4.0
1.3
3.5
6.0
Controller
FN02
0.12%
0.07%
0.10%
0.13%
0.5
0.2
0.5
0.7
0.8
0.2
0.6
1.2
FN03
0.02%
0.01%
0.02%
0.02%
0.2
0.1
0.2
0.2
0.2
0.1
0.2
0.2
Senior Accountant
FN04
0.20%
0.20%
0.20%
0.20%
0.2
0.2
0.2
0.3
0.5
0.3
0.5
0.7
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
0.71%
0.06%
0.08%
1.04%
1.0
0.6
1.0
1.4
1.2
0.8
1.4
1.6
Marketing Manager
MK02
0.24%
0.04%
0.22%
0.43%
1.1
0.4
0.5
1.1
2.2
0.5
1.1
2.8
IR01
0.11%
0.05%
0.10%
0.15%
1.8
0.7
1.0
2.1
1.9
1.0
1.2
2.1
IR02
0.01%
0.01%
0.01%
0.02%
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.2
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
4.67%
0.02%
0.03%
0.04%
19.8
0.2
0.2
0.3
32.4
0.3
0.5
0.6
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Large Venture Capital
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
1,554.8
1,024.0
1,500.0
2,096.7
1,925.1
1,270.9
2,000.0
2,255.3
1,954.1
1,270.9
2,001.2
2,356.3
PE02
969.9
880.0
1,055.6
1,062.8
1,147.7
1,030.0
1,055.6
1,062.8
1,259.3
1,055.6
1,063.0
1,588.0
PE03
505.8
527.7
534.0
547.5
611.7
533.5
606.0
750.9
686.4
578.0
721.3
782.4
PE04
276.5
215.4
275.0
318.8
344.8
271.8
350.0
375.0
344.8
271.8
350.0
375.0
Senior Associate
PE05
195.8
158.2
181.9
215.1
282.8
223.7
238.4
254.9
282.8
223.7
238.4
254.9
Associate
PE06
144.2
116.6
135.0
151.5
209.4
156.2
169.4
184.0
209.4
156.2
169.4
184.0
Senior Analyst
PE07
120.9
120.4
120.9
121.3
192.1
172.2
192.1
211.9
192.1
172.2
192.1
211.9
Analyst
PE08
74.9
49.9
80.0
105.0
91.9
69.4
92.5
115.0
91.9
69.4
92.5
115.0
PE09
398.3
348.3
387.5
437.5
418.1
348.3
427.3
497.1
418.1
348.3
427.3
497.1
AS01
712.5
631.3
712.5
793.8
712.5
631.3
712.5
793.8
712.5
631.3
712.5
793.8
AS02
90.4
78.5
103.0
108.5
98.4
85.7
112.0
118.0
98.4
85.7
112.0
118.0
Executive Assistant
AS03
88.7
78.0
90.8
100.9
99.6
86.0
107.9
115.0
99.6
86.0
107.9
115.0
AS04
73.1
62.0
79.9
81.7
79.0
66.0
85.0
86.2
79.0
66.0
85.0
86.2
Receptionist
AS05
54.4
50.5
55.0
60.1
59.1
54.8
59.8
64.3
59.1
54.8
59.8
64.3
FN01
449.1
386.0
430.5
490.0
548.2
496.5
512.0
571.3
551.2
496.5
512.0
581.8
Controller
FN02
227.4
205.0
234.0
251.4
294.3
240.3
276.4
324.5
294.3
240.3
276.4
324.5
FN03
133.7
127.6
133.3
138.4
154.4
143.0
157.7
160.4
154.4
143.0
157.7
160.4
Senior Accountant
FN04
97.0
83.5
87.0
99.0
115.4
91.0
100.6
116.5
115.4
91.0
100.6
116.5
Junior Accountant
FN05
60.7
60.6
60.7
60.7
67.6
66.7
67.6
68.6
67.6
66.7
67.6
68.6
Fund Accountant
FN06
77.1
72.0
80.0
83.6
88.2
82.5
96.0
97.9
88.2
82.5
96.0
97.9
MK01
275.0
162.5
175.0
337.5
302.7
204.0
208.0
354.0
302.7
204.0
208.0
354.0
Marketing Manager
MK02
186.8
174.0
200.0
212.8
214.8
184.0
215.1
245.8
214.8
184.0
215.1
245.8
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
149.4
149.1
149.4
149.7
168.7
159.4
168.7
178.1
168.7
159.4
168.7
178.1
Chief Legal Counsel
LG01
445.0
350.0
380.0
420.0
500.2
375.0
455.0
546.0
503.0
375.0
469.0
546.0
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
296.5
244.8
296.5
348.3
313.5
270.3
313.5
356.8
313.5
270.3
313.5
356.8
HR02
205.0
195.0
205.0
215.0
244.0
242.0
244.0
246.0
244.0
242.0
244.0
246.0
IT01
135.9
121.3
132.6
148.8
150.8
139.7
151.4
162.2
150.8
139.7
151.4
162.2
IT02
136.0
85.6
168.0
178.5
155.8
92.9
190.0
212.0
155.8
92.9
190.0
212.0

Large Venture Capital - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
3.5%
2.4%
3.1%
3.5%
22.2
13.8
20.3
28.7
114.0
53.6
73.6
164.0
PE02
2.1%
2.0%
2.2%
2.3%
9.2
6.2
7.8
10.7
37.9
19.8
32.8
50.9
PE03
0.7%
0.6%
0.8%
0.9%
5.2
1.7
4.6
6.4
12.6
8.6
8.7
17.9
PE04
0.3%
0.1%
0.2%
0.3%
2.3
0.7
1.1
1.2
2.6
1.1
1.6
1.7
Senior Associate
PE05
0.9%
0.9%
0.9%
1.0%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
0.3%
0.2%
0.3%
0.4%
2.3
1.5
2.3
3.0
2.3
1.5
2.3
3.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.3%
0.2%
0.3%
0.4%
1.5
1.1
1.5
1.8
2.0
1.5
2.2
2.6
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.5%
0.3%
0.6%
0.8%
2.1
1.3
2.1
2.9
12.3
5.9
7.2
13.5
Controller
FN02
0.2%
0.1%
0.1%
0.3%
0.7
0.5
0.6
0.8
1.9
0.7
1.6
2.9
FN03
0.0%
0.0%
0.0%
0.1%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
0.4%
0.3%
0.5%
0.6%
2.4
2.1
2.4
2.7
5.2
4.1
5.2
6.4
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Mid-Size Venture Capital
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
10
1,101.4
660.0
1,115.0
1,288.8
10
1,528.6
836.0
1,450.9
2,139.5
10
1,587.8
875.0
1,654.9
2,146.5
PE02
695.5
500.0
630.0
830.0
781.1
500.0
630.0
830.0
781.1
500.0
630.0
830.0
PE03
11
479.2
300.0
371.0
525.0
11
570.4
474.6
500.0
587.5
11
577.1
474.6
500.0
624.5
PE04
209.9
165.4
225.0
250.0
274.3
260.0
274.0
329.0
274.3
260.0
274.0
329.0
Senior Associate
PE05
135.7
132.5
145.0
155.0
180.2
160.0
180.0
205.8
180.2
160.0
180.0
205.8
Associate
PE06
104.6
101.3
107.5
117.5
129.8
113.1
137.0
167.3
129.8
113.1
137.0
167.3
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
200.3
190.0
200.0
200.0
232.7
200.0
210.0
280.0
232.7
200.0
210.0
280.0
AS01
425.0
387.5
500.0
500.0
535.0
427.5
500.0
625.0
535.0
427.5
500.0
625.0
AS02
86.7
68.5
88.0
100.5
99.4
80.5
99.0
115.5
99.4
80.5
99.0
115.5
Executive Assistant
AS03
65.4
54.0
67.3
70.2
70.6
55.8
70.8
78.3
70.6
55.8
70.8
78.3
AS04
66.0
63.0
66.0
69.0
74.0
71.0
74.0
77.0
74.0
71.0
74.0
77.0
Receptionist
AS05
42.3
33.3
42.0
51.0
44.8
33.3
44.5
56.0
45.5
34.0
44.5
56.0
FN01
262.9
212.5
275.0
300.0
337.3
281.3
322.5
378.8
337.5
282.0
322.5
378.8
Controller
FN02
137.5
124.1
133.8
149.3
171.1
128.8
163.5
186.8
171.1
128.8
163.5
186.8
FN03
117.5
113.8
117.5
121.3
130.5
120.3
130.5
140.8
130.5
120.3
130.5
140.8
Senior Accountant
FN04
79.8
72.3
75.0
82.5
84.1
72.9
75.0
86.3
84.1
72.9
75.0
86.3
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
217.5
186.3
217.5
248.8
293.6
266.8
293.6
320.4
293.6
266.8
293.6
320.4
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
188.3
162.9
188.3
213.6
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
IR02
96.7
95.0
95.0
97.5
96.7
95.0
95.0
97.5
96.7
95.0
95.0
97.5
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
187.5
168.8
187.5
206.3
210.0
180.0
210.0
240.0
210.0
180.0
210.0
240.0
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
142.5
128.8
142.5
156.3
157.5
136.3
157.5
178.8
157.5
136.3
157.5
178.8
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Mid-Size Venture Capital - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
4.6%
4.0%
5.0%
5.2%
12.3
8.0
12.1
16.2
38.6
30.2
34.0
38.1
PE02
3.2%
2.5%
3.1%
3.5%
7.6
2.3
7.0
9.3
18.8
16.5
19.1
25.1
PE03
1.6%
1.0%
1.3%
2.4%
4.5
2.0
3.6
6.0
9.1
5.2
6.0
12.0
PE04
0.3%
0.3%
0.3%
0.3%
1.2
0.7
1.1
1.7
1.4
0.8
1.7
2.0
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.7%
0.5%
0.7%
0.8%
2.1
1.7
2.1
2.6
3.7
2.6
3.7
4.9
AS01
1.0%
0.8%
0.8%
1.2%
2.1
1.7
2.4
2.7
8.7
5.6
7.2
11.1
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
0.1
0.1
0.1
0.1
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.5%
0.3%
0.3%
0.9%
1.2
0.7
0.8
1.0
3.0
1.4
1.7
4.5
Controller
FN02
0.2%
0.2%
0.2%
0.3%
0.3
0.2
0.3
0.3
0.4
0.3
0.3
0.6
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Small Venture Capital
Base Salary ($000)
Firm
Avg.
25th
50th
75th

Avg.
25th
50th
75th
PE01
11
588.7
360.0
450.0
775.0
11
647.1
485.0
600.0
775.0
11
769.2
490.0
600.0
900.0
PE02
332.2
230.3
282.5
400.0
370.0
250.0
352.5
451.3
583.7
250.0
352.5
545.8
PE03
236.1
215.0
217.5
230.0
255.0
217.5
249.5
290.0
268.0
217.5
249.5
355.0
PE04
194.0
132.5
183.8
241.3
205.7
132.5
196.3
280.0
210.2
132.5
196.3
281.3
Senior Associate
PE05
162.5
130.0
150.0
182.5
178.0
146.9
165.9
197.0
184.6
166.7
179.1
197.0
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
70.6
59.3
70.6
81.8
79.4
66.2
79.4
92.6
79.4
66.2
79.4
92.6
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
172.2
86.5
100.0
249.3
178.6
86.5
100.0
281.3
181.6
86.5
100.0
296.3
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
91.6
82.0
87.6
90.5
102.7
92.0
93.6
110.5
107.0
92.0
93.6
131.8
Executive Assistant
AS03
68.2
51.7
57.0
80.3
72.8
51.9
59.2
80.3
72.8
51.9
59.2
80.3
AS04
33.4
25.7
33.4
41.1
34.9
26.5
34.9
43.4
36.2
27.1
36.2
45.2
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
197.7
200.0
201.7
209.8
218.9
200.0
214.2
240.9
285.1
200.0
214.2
240.9
Controller
FN02
105.2
100.5
112.5
117.2
117.5
111.7
128.5
134.3
117.5
111.7
128.5
134.3
FN03
87.5
68.8
87.5
106.3
87.5
68.8
87.5
106.3
87.5
68.8
87.5
106.3
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm
Avg.
25th
50th
75th
Firm

Small Venture Capital - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
5.3%
3.5%
6.4%
6.8%
6.9
3.0
4.0
10.0
10.3
7.2
7.8
15.6
PE02
3.1%
1.5%
3.6%
3.8%
2.8
0.9
3.7
3.9
5.8
1.6
4.9
10.1
PE03
1.5%
1.3%
1.6%
1.8%
1.9
0.5
0.6
1.7
2.7
1.6
1.7
2.4
PE04
1.9%
0.3%
0.3%
2.7%
1.4
0.2
0.2
1.4
2.8
0.3
0.5
2.9
Senior Associate
PE05
0.6%
0.4%
0.6%
0.9%
0.7
0.4
0.7
0.9
2.4
1.4
2.4
3.5
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.3%
0.2%
0.3%
0.5%
0.3
0.2
0.3
0.4
0.6
0.3
0.3
0.8
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
0.3%
0.2%
0.3%
0.3%
0.1
0.1
0.1
0.1
0.4
0.4
0.4
0.5
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
1.7%
0.4%
1.0%
1.8%
1.5
0.2
0.4
1.7
3.5
1.2
1.4
4.5
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

All Venture Capital
Base Salary ($000)
All Venture Capital
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
30
964.8
462.5
775.0
1,250.0
30
1,215.9
555.0
900.0
1,656.4
30
1,287.2
555.0
1,020.9
1,875.8
PE02
16
645.0
343.8
563.8
923.9
16
741.5
406.3
563.8
1,036.4
16
856.5
406.3
608.0
1,194.3
PE03
22
431.2
243.8
394.5
537.0
22
510.0
308.8
500.0
606.3
22
536.7
370.8
514.0
689.7
PE04
25
226.1
165.4
225.0
275.0
26
280.5
219.8
277.0
348.4
26
281.9
219.8
277.0
348.4
Senior Associate
PE05
16
159.4
140.0
150.8
168.3
16
215.3
162.6
190.0
250.4
16
217.0
172.8
190.0
250.4
Associate
PE06
15
131.1
105.0
120.0
145.9
15
173.6
137.8
164.9
178.4
15
173.6
137.8
164.9
178.4
Senior Analyst
PE07
100.2
93.1
118.0
120.0
140.2
105.9
152.4
158.0
140.2
105.9
152.4
158.0
Analyst
PE08
71.9
55.0
60.0
105.0
86.7
66.0
80.0
105.0
86.7
66.0
80.0
105.0
PE09
14
246.9
122.5
224.7
359.1
14
266.4
125.0
274.0
374.6
14
267.5
125.0
274.0
374.6
AS01
475.0
331.3
500.0
537.5
530.0
391.3
525.0
700.0
530.0
391.3
525.0
700.0
AS02
14
88.0
71.3
87.8
101.8
14
99.5
85.0
96.3
116.8
14
101.0
85.0
96.3
122.5
Executive Assistant
AS03
24
75.4
56.9
69.0
100.0
24
82.5
58.6
74.8
111.6
24
82.5
58.6
74.8
111.6
AS04
62.7
60.0
62.0
79.9
68.1
62.0
68.0
85.0
68.4
62.0
68.0
85.0
Receptionist
AS05
14
50.0
37.4
52.8
57.3
14
53.4
39.1
56.8
61.3
14
53.6
39.1
56.8
61.3
FN01
21
300.1
200.0
250.0
385.0
21
362.5
238.0
310.0
493.0
21
388.8
238.0
345.0
500.0
Controller
FN02
20
167.0
122.8
153.5
216.0
20
209.7
131.5
191.6
264.7
20
209.7
131.5
191.6
264.7
FN03
10
121.2
113.8
125.9
134.9
10
136.2
117.5
144.7
158.1
10
136.2
117.5
144.7
158.1
Senior Accountant
FN04
13
89.3
75.0
85.0
95.0
13
102.0
75.0
93.0
113.0
13
102.0
75.0
93.0
113.0
Junior Accountant
FN05
51.7
45.1
54.0
60.6
56.9
49.4
59.1
66.7
56.9
49.4
59.1
66.7
Fund Accountant
FN06
87.8
76.0
83.6
95.4
98.9
89.3
97.9
107.5
98.9
89.3
97.9
107.5
MK01
252.0
155.0
175.0
280.0
299.0
208.0
240.0
347.2
299.0
208.0
240.0
347.2
Marketing Manager
MK02
186.8
174.0
200.0
212.8
214.8
184.0
215.1
245.8
214.8
184.0
215.1
245.8
IR01
188.3
162.9
188.3
213.6
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
IR02
107.5
95.0
100.0
148.8
115.2
95.0
100.0
150.0
115.2
95.0
100.0
150.0
Chief Legal Counsel
LG01
390.7
337.5
360.0
400.0
434.4
367.5
375.0
500.5
436.4
367.5
375.0
507.5
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
242.0
182.3
209.0
268.8
261.8
207.8
248.5
302.5
261.8
207.8
248.5
302.5
HR02
166.7
137.5
185.0
205.0
195.3
169.0
240.0
244.0
195.3
169.0
240.0
244.0
IT01
138.5
115.0
132.6
165.0
153.5
128.0
151.4
173.0
153.5
128.0
151.4
173.0
IT02
124.1
66.3
110.0
177.0
140.6
72.8
120.0
192.0
140.6
72.8
120.0
192.0
Firm

Firm

All Venture Capital - Continued
Carried Interest
All Venture Capital

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
26
4.66%
3.01%
4.08%
6.31%
26
12.0
3.6
11.4
16.8
26
43.5
8.3
28.6
40.0
PE02
14
2.90%
2.28%
2.50%
3.61%
14
6.5
2.7
5.7
9.0
14
20.2
6.6
17.8
25.7
PE03
19
1.26%
0.72%
1.00%
1.83%
19
4.0
0.9
3.4
6.2
19
8.4
3.7
6.4
11.4
PE04
16
0.60%
0.14%
0.26%
0.46%
17
1.6
0.4
1.0
1.3
17
2.1
0.5
1.5
1.8
Senior Associate
PE05
0.59%
0.21%
0.56%
0.94%
2.0
0.2
0.7
2.5
3.0
0.5
2.6
5.0
Associate
PE06
0.44%
0.14%
0.33%
0.63%
1.6
0.5
0.8
2.3
1.7
0.6
0.8
2.3
Senior Analyst
PE07
0.12%
0.11%
0.12%
0.13%
0.2
0.2
0.2
0.2
0.4
0.4
0.4
0.5
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.41%
0.26%
0.33%
0.50%
1.2
0.4
1.0
1.7
1.9
0.7
1.4
2.4
AS01
0.99%
0.80%
0.90%
1.00%
2.2
0.9
2.4
3.0
9.0
4.0
7.2
15.1
AS02
0.23%
0.15%
0.15%
0.28%
0.1
0.1
0.1
0.1
0.3
0.2
0.3
0.4
Executive Assistant
AS03
0.07%
0.05%
0.07%
0.08%
0.1
0.0
0.1
0.1
0.1
0.1
0.1
0.1
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
15
0.91%
0.26%
0.55%
0.94%
14
1.6
0.6
1.1
2.5
14
5.8
1.4
4.4
6.6
Controller
FN02
11
0.19%
0.12%
0.15%
0.26%
10
0.4
0.2
0.4
0.6
10
1.0
0.3
0.6
0.7
FN03
0.14%
0.08%
0.14%
0.20%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
0.10%
0.10%
0.10%
0.10%
0.3
0.2
0.3
0.4
0.6
0.4
0.6
0.8
Chief Legal Counsel
LG01
0.74%
0.40%
0.52%
0.64%
2.2
1.8
1.8
2.4
5.0
3.7
4.5
6.0
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
0.55%
0.32%
0.55%
0.79%
1.2
1.0
1.2
1.3
1.5
1.5
1.5
1.5
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Mid-Size & Large Mezzanine
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
1,900.0
PE01
406.7
285.0
325.0
487.5
1,715.0
1,347.5
1,350.0
1,900.0
1,715.0
1,347.5
1,350.0
PE02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE03
342.5
229.4
266.3
379.4
672.7
586.9
658.8
744.6
672.7
586.9
658.8
744.6
PE04
202.8
177.3
205.0
230.5
400.8
310.3
371.0
461.6
400.8
310.3
371.0
461.6
Senior Associate
PE05
173.7
156.2
170.0
187.5
324.4
303.1
315.0
336.3
324.4
303.1
315.0
336.3
Associate
PE06
125.2
110.4
115.0
135.0
229.3
198.9
207.9
248.9
229.3
198.9
207.9
248.9
Senior Analyst
PE07
101.8
95.2
111.0
113.0
178.8
148.6
155.0
197.0
178.8
148.6
155.0
197.0
Analyst
PE08
82.1
71.2
80.0
92.0
130.2
95.8
100.0
149.5
130.2
95.8
100.0
149.5
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
53.0
49.5
53.0
56.5
69.0
68.0
69.0
70.0
69.0
68.0
69.0
70.0
Executive Assistant
AS03
69.5
62.3
69.5
76.8
95.0
95.0
95.0
95.0
95.0
95.0
95.0
95.0
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
165.0
147.5
165.0
182.5
296.0
279.0
296.0
313.0
296.0
279.0
296.0
313.0
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
63.5
61.8
63.5
65.3
104.0
89.5
104.0
118.5
104.0
89.5
104.0
118.5
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Mid-Size & Large Mezzanine Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
3.7%
2.3%
3.8%
5.1%
28.0
23.8
28.4
32.3
57.6
36.4
38.2
69.1
PE02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE03
1.9%
1.4%
1.9%
2.4%
16.4
9.0
15.4
22.8
25.3
13.2
22.4
34.5
PE04
0.9%
0.6%
0.9%
1.2%
7.6
4.6
7.2
10.2
10.2
4.8
10.4
15.8
Senior Associate
PE05
0.1%
0.0%
0.1%
0.1%
2.1
1.0
1.6
2.7
2.2
1.2
1.7
2.7
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.3%
0.1%
0.3%
0.4%
1.7
1.3
1.7
2.2
1.8
1.4
1.8
2.2
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Small Mezzanine
Base Salary ($000)
Small Mezzanine
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
808.8
243.8
800.0
1,365.0
820.0
265.0
810.0
1,365.0
1,175.3
490.0
990.0
1,675.3
PE02
341.9
212.5
312.5
441.9
471.9
262.5
431.3
640.6
612.1
262.5
431.3
780.9
PE03
208.3
175.0
200.0
237.5
346.0
192.5
200.0
426.5
512.7
267.5
335.0
669.0
PE04
142.5
117.5
137.5
162.5
235.8
141.3
239.0
333.5
279.0
178.8
275.0
375.3
Senior Associate
PE05
95.3
88.0
90.0
100.0
112.0
110.5
111.0
113.0
117.0
110.5
111.0
120.5
Associate
PE06
97.5
96.3
97.5
98.8
132.0
123.0
132.0
141.0
132.0
123.0
132.0
141.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
77.5
76.3
77.5
78.8
148.5
136.8
148.5
160.3
179.0
152.0
179.0
206.0
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
128.8
118.1
128.8
139.4
184.8
151.1
184.8
218.4
184.8
151.1
184.8
218.4
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Small Mezzanine - Continued
Carried Interest
Small Mezzanine
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
6.9%
5.3%
6.4%
7.9%
9.5
4.9
9.6
14.2
12.4
5.1
11.6
18.9
PE02
3.0%
1.9%
2.8%
3.8%
4.2
2.6
4.8
6.4
12.0
5.5
9.7
16.1
PE03
3.3%
2.8%
3.0%
3.8%
3.4
2.1
2.5
4.3
5.1
2.1
2.5
6.7
PE04
1.1%
0.8%
1.1%
1.4%
1.6
0.9
1.8
2.5
1.6
0.9
1.8
2.5
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

All Mezzanine
Base Salary ($000)
All Mezzanine
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
636.4
247.5
325.0
1,000.0
1,203.6
807.5
1,350.0
1,380.0
1,406.6
957.5
1,350.0
1,930.0
PE02
243.3
187.5
230.0
265.0
553.4
237.5
482.5
772.5
671.9
290.0
512.5
1,031.4
PE03
281.4
210.0
232.5
287.5
528.6
347.5
617.5
679.5
590.6
347.5
617.5
789.2
PE04
179.4
159.5
180.0
215.0
342.3
308.5
328.0
390.0
359.9
308.5
350.0
440.5
Senior Associate
PE05
140.1
100.0
130.0
170.0
233.4
113.0
297.5
315.0
235.5
120.5
297.5
315.0
Associate
PE06
114.1
100.0
105.7
115.0
190.4
150.0
190.0
207.9
190.4
150.0
190.0
207.9
Senior Analyst
PE07
96.0
79.5
95.5
112.0
159.5
130.9
147.4
176.0
159.5
130.9
147.4
176.0
Analyst
PE08
77.4
62.9
71.5
86.0
114.6
85.6
95.8
124.8
114.6
85.6
95.8
124.8
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
65.3
56.5
67.5
76.3
108.8
70.0
98.0
136.8
124.0
70.0
98.0
152.0
Executive Assistant
AS03
69.5
62.3
69.5
76.8
95.0
95.0
95.0
95.0
95.0
95.0
95.0
95.0
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
146.9
124.4
140.0
162.5
240.4
218.4
257.0
279.0
240.4
218.4
257.0
279.0
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
63.5
61.8
63.5
65.3
104.0
89.5
104.0
118.5
104.0
89.5
104.0
118.5
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

All Mezzanine - Continued
Carried Interest
All Mezzanine
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
5.50%
4.28%
5.50%
6.85%
17.4
9.6
17.2
23.8
31.8
11.6
24.2
36.4
PE02
2.97%
1.57%
3.00%
3.00%
25.2
3.5
7.2
38.2
54.2
5.9
31.6
77.0
PE03
2.38%
1.88%
2.00%
2.98%
10.7
4.3
8.7
15.4
16.6
6.6
11.0
22.4
PE04
0.97%
0.81%
1.00%
1.19%
6.0
3.1
4.2
8.3
7.7
3.2
4.5
13.1
Senior Associate
PE05
0.13%
0.07%
0.11%
0.18%
2.8
1.6
1.9
3.5
2.9
1.7
1.9
3.6
Associate
PE06
0.14%
0.08%
0.14%
0.19%
0.7
0.7
0.7
0.8
0.8
0.7
0.8
0.9
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.34%
0.26%
0.50%
0.50%
1.6
1.0
1.2
1.9
2.0
1.6
2.2
2.4
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Large LBO/VC/Mezz
Base Salary ($000)
Large LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
18
1,257.1
525.0
1,024.0
2,000.0
18
2,735.4
2,000.0
2,134.6
2,435.6
18
4,389.9
2,050.9
3,061.8
6,095.8
PE02
15
709.2
481.3
600.0
967.8
15
1,594.4
855.7
1,062.8
1,482.5
15
2,455.2
1,059.3
2,048.4
2,752.5
PE03
17
513.1
304.4
475.0
550.0
17
781.3
592.5
778.8
878.5
17
1,060.6
780.0
814.4
978.0
PE04
19
256.8
196.0
256.3
287.5
20
399.6
348.5
387.4
445.6
20
446.1
358.9
390.5
500.6
Senior Associate
PE05
15
178.0
148.5
178.3
203.0
15
304.3
246.6
263.5
350.6
15
311.1
246.6
263.5
350.6
Associate
PE06
18
138.4
102.4
126.2
150.0
18
211.1
178.3
190.7
217.0
18
213.2
178.3
195.0
217.5
Senior Analyst
PE07
99.6
90.0
92.3
111.8
161.5
143.9
152.4
167.5
161.5
143.9
152.4
167.5
Analyst
PE08
70.3
56.3
61.2
94.4
88.2
72.5
85.8
101.6
88.2
72.5
85.8
101.6
PE09
350.1
290.4
366.3
393.8
443.3
378.1
433.4
532.4
443.3
378.1
433.4
532.4
AS01
640.0
400.0
550.0
875.0
770.5
550.0
875.0
952.5
1,225.8
550.0
875.0
1,197.9
AS02
86.2
58.5
85.0
109.5
110.0
76.4
119.0
137.6
127.2
84.8
119.0
143.8
Executive Assistant
AS03
15
79.4
63.3
81.7
96.2
15
89.9
71.6
90.5
111.8
15
89.9
71.6
90.5
111.8
AS04
10
60.3
47.6
55.0
75.5
10
66.9
55.9
61.0
80.3
10
66.9
55.9
61.0
80.3
Receptionist
AS05
11
52.9
47.7
55.0
60.0
11
57.6
52.3
58.5
65.7
11
57.6
52.3
58.5
65.7
FN01
15
367.2
267.5
350.0
455.2
15
502.7
347.5
500.0
571.3
15
579.5
386.3
512.0
601.5
Controller
FN02
16
180.1
129.4
179.8
234.0
16
238.8
189.3
214.6
295.8
16
258.7
199.2
233.5
320.1
FN03
10
116.4
96.8
120.9
134.9
10
140.7
114.3
147.7
158.3
10
140.7
114.3
147.7
158.3
Senior Accountant
FN04
11
91.4
76.5
85.0
92.0
11
110.0
89.1
98.9
109.1
11
111.6
89.1
103.0
114.5
Junior Accountant
FN05
61.7
60.5
60.8
61.0
68.8
65.8
66.8
69.5
68.8
65.8
66.8
69.5
Fund Accountant
FN06
94.4
75.0
83.6
108.1
113.3
89.0
97.9
125.8
115.2
89.0
97.9
125.8
MK01
250.0
168.8
175.0
256.3
288.9
206.0
227.8
310.6
291.4
206.0
232.9
318.3
Marketing Manager
MK02
174.4
125.0
200.0
200.0
206.8
175.0
210.0
220.1
206.8
175.0
210.0
220.1
IR01
174.8
115.6
210.5
235.3
294.0
296.8
313.2
341.3
304.4
296.8
313.2
341.3
IR02
134.8
148.8
150.0
150.0
179.6
150.0
187.4
224.3
188.4
150.0
187.4
224.3
Chief Legal Counsel
LG01
445.0
350.0
380.0
420.0
500.2
375.0
455.0
546.0
503.0
375.0
469.0
546.0
LG02
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
HR01
229.3
144.0
193.0
296.5
253.9
180.9
227.0
313.5
253.9
180.9
227.0
313.5
HR02
159.4
126.6
185.0
205.0
195.0
168.5
240.0
244.0
195.4
169.1
240.0
244.0
IT01
151.5
132.6
165.0
175.0
174.5
151.4
173.0
200.0
174.5
151.4
173.0
200.0
IT02
10
128.4
88.0
127.5
174.8
10
146.1
104.0
134.7
191.5
10
146.1
104.0
134.7
191.5

Large LBO/VC/Mezz - Continued
Carried Interest
Large LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
17
4.1%
2.3%
3.5%
4.6%
17
33.0
17.2
31.5
46.6
17
91.5
48.2
77.3
113.4
PE02
13
2.2%
1.6%
2.0%
2.3%
13
20.2
8.0
15.3
26.0
13
46.5
19.6
42.1
55.8
PE03
16
1.0%
0.5%
0.9%
1.1%
16
8.4
4.0
6.0
12.6
16
16.5
7.7
12.1
21.7
PE04
16
0.4%
0.2%
0.3%
0.5%
17
3.2
1.1
2.0
4.6
17
4.4
1.7
2.8
5.9
Senior Associate
PE05
0.2%
0.1%
0.2%
0.2%
2.2
0.6
1.5
2.8
2.4
0.7
1.5
4.2
Associate
PE06
0.4%
0.1%
0.2%
0.5%
1.4
0.6
0.7
1.5
1.4
0.6
0.7
1.5
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.7%
0.3%
0.5%
0.9%
2.7
1.1
1.5
2.1
4.7
1.5
2.2
3.0
AS01
0.9%
0.5%
0.8%
1.1%
8.5
4.0
4.6
9.2
18.1
6.7
12.0
23.4
AS02
0.0%
0.0%
0.0%
0.0%
0.1
0.1
0.1
0.2
0.2
0.2
0.2
0.2
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
12
0.5%
0.2%
0.4%
0.8%
11
2.1
1.3
2.3
2.8
11
6.7
2.9
4.4
6.5
Controller
FN02
0.1%
0.1%
0.1%
0.1%
0.6
0.5
0.6
0.8
1.4
0.6
1.0
2.0
FN03
0.0%
0.0%
0.0%
0.0%
0.1
0.1
0.1
0.2
0.2
0.2
0.2
0.2
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
0.1%
0.1%
0.1%
0.1%
1.3
0.8
1.3
1.8
2.2
1.3
2.2
3.1
IR01
0.1%
0.0%
0.1%
0.2%
1.8
0.7
1.0
2.1
1.9
1.0
1.2
2.1
IR02
0.0%
0.0%
0.0%
0.1%
0.3
0.1
0.2
0.3
0.4
0.1
0.2
0.6
Chief Legal Counsel
LG01
0.4%
0.3%
0.5%
0.6%
2.4
2.1
2.4
2.7
5.2
4.1
5.2
6.4
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
0.1%
0.0%
0.1%
0.1%
0.9
0.7
0.9
1.2
1.0
0.7
1.0
1.2
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Mid-Size LBO/VC/Mezz
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
19
850.9
500.0
650.0
1,240.0
19
1,505.7
894.0
1,350.0
1,979.0
19
2,716.4
1,297.5
1,658.0
2,797.3
PE02
10
616.1
400.0
475.0
780.0
10
766.5
532.5
694.9
822.5
10
2,364.5
632.5
790.0
3,705.1
PE03
18
463.7
302.1
385.5
537.5
18
582.7
496.3
542.6
643.8
18
758.6
496.3
542.6
699.8
PE04
16
246.4
200.0
231.0
262.6
16
325.9
273.0
320.5
369.0
16
512.9
273.0
320.5
396.5
Senior Associate
PE05
14
161.4
141.9
158.4
168.8
14
228.0
185.0
236.4
282.5
14
247.6
185.0
236.4
294.4
Associate
PE06
10
115.2
101.3
115.0
142.5
10
163.0
133.0
159.5
193.0
10
163.0
133.0
159.5
193.0
Senior Analyst
PE07
106.1
100.0
111.0
115.0
178.9
158.0
166.0
176.7
178.9
158.0
166.0
176.7
Analyst
PE08
83.3
74.0
86.7
96.0
128.6
90.5
126.7
164.7
128.6
90.5
126.7
164.7
PE09
172.3
100.0
200.0
200.0
186.7
100.0
200.0
210.0
186.7
100.0
200.0
210.0
AS01
343.8
231.3
387.5
500.0
454.2
355.0
466.0
500.0
469.9
355.0
500.0
544.3
AS02
14
82.8
71.5
82.5
96.5
14
96.0
79.0
95.0
111.5
14
223.0
89.8
109.4
117.3
Executive Assistant
AS03
14
66.0
55.0
67.3
80.7
14
74.7
60.3
74.8
95.0
14
74.7
60.3
74.8
95.0
AS04
62.4
60.0
66.0
71.0
69.0
68.0
75.0
79.0
157.5
68.0
79.0
80.0
Receptionist
AS05
44.0
37.0
44.0
51.0
46.5
37.0
46.5
56.0
46.5
37.0
46.5
56.0
FN01
10
255.5
200.0
237.5
300.0
10
331.5
279.5
315.0
378.8
10
438.6
280.3
315.0
378.8
Controller
FN02
14
135.9
120.0
133.8
154.5
14
164.9
127.0
163.5
181.5
14
238.4
133.8
173.3
181.5
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
81.6
75.0
75.0
88.5
90.1
75.0
75.0
109.5
95.2
75.0
75.0
115.0
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
306.7
210.0
280.0
390.0
329.1
243.6
347.2
423.6
346.1
269.2
347.2
423.6
Marketing Manager
MK02
102.0
65.3
91.5
128.3
157.8
118.5
139.5
178.8
484.3
118.5
205.0
570.8
IR01
188.3
162.9
188.3
213.6
209.5
188.5
209.5
230.5
209.5
188.5
209.5
230.5
IR02
97.5
96.3
97.5
98.8
97.5
96.3
97.5
98.8
97.5
96.3
97.5
98.8
Chief Legal Counsel
LG01
493.5
321.8
493.5
665.3
518.5
349.3
518.5
687.8
518.5
349.3
518.5
687.8
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
175.0
150.0
150.0
187.5
190.0
150.0
150.0
210.0
190.0
150.0
150.0
210.0
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
142.5
128.8
142.5
156.3
157.5
136.3
157.5
178.8
157.5
136.3
157.5
178.8
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Mid-Size LBO/VC/Mezz - Continued
Carried Interest
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
18
7.5%
4.0%
5.0%
6.0%
18
19.3
11.3
18.2
25.4
18
39.3
30.7
34.5
41.4
PE02
10
3.6%
2.6%
3.3%
4.3%
10
10.9
4.2
8.2
17.7
10
22.0
11.6
22.1
27.7
PE03
17
2.0%
1.2%
2.0%
2.4%
17
6.9
3.4
5.2
9.6
17
10.5
5.2
10.6
12.2
PE04
13
0.8%
0.3%
0.6%
1.0%
15
2.9
1.2
2.3
3.0
15
3.8
1.9
2.5
4.9
Senior Associate
PE05
0.2%
0.1%
0.2%
0.3%
1.0
0.7
1.2
1.4
1.3
0.7
1.3
1.7
Associate
PE06
0.2%
0.1%
0.1%
0.3%
0.5
0.4
0.5
0.7
0.8
0.6
0.8
0.9
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.5%
0.3%
0.3%
0.7%
1.7
1.0
1.3
2.1
3.5
2.3
3.1
4.6
AS01
1.4%
0.8%
1.0%
1.5%
2.6
2.4
3.0
3.0
6.8
4.0
5.0
7.2
AS02
0.1%
0.0%
0.1%
0.2%
0.2
0.1
0.2
0.3
0.4
0.1
0.2
0.7
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
0.1%
0.0%
0.1%
0.1%
0.2
0.0
0.1
0.2
0.3
0.1
0.1
0.4
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
10
0.5%
0.3%
0.5%
0.8%
10
2.1
0.8
1.7
2.9
10
4.0
1.5
3.4
6.1
Controller
FN02
0.2%
0.1%
0.2%
0.3%
0.3
0.2
0.3
0.4
0.5
0.3
0.3
0.6
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
0.2%
0.1%
0.2%
0.2%
0.3
0.2
0.3
0.3
0.5
0.3
0.5
0.7
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
1.0%
0.5%
1.0%
1.5%
1.1
0.7
1.1
1.5
1.1
0.7
1.1
1.5
Marketing Manager
MK02
0.3%
0.2%
0.4%
0.5%
1.3
0.5
0.5
1.8
2.8
1.1
1.6
4.0
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Small LBO/VC/Mezz
Base Salary ($000)
Small LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
23
535.7
250.0
350.0
775.0
23
650.8
345.0
600.0
787.5
23
1,077.2
430.0
650.0
1,330.0
PE02
20
288.0
200.0
250.0
335.0
20
433.3
266.3
387.5
586.4
20
689.9
278.8
437.5
697.9
PE03
13
236.0
215.0
230.0
250.0
13
366.8
249.5
418.0
450.0
13
582.1
249.5
418.0
585.0
PE04
19
167.2
138.3
150.0
199.8
19
257.9
188.8
289.6
321.6
19
278.7
188.8
294.0
350.0
Senior Associate
PE05
14
120.0
92.5
112.5
141.2
14
167.4
112.0
165.9
223.9
14
170.8
115.8
179.1
227.6
Associate
PE06
95.7
95.0
103.0
110.0
151.8
135.0
173.0
180.0
151.8
135.0
173.0
180.0
Senior Analyst
PE07
68.5
56.0
82.5
88.8
100.4
65.8
104.9
139.0
100.4
65.8
104.9
139.0
Analyst
PE08
59.7
56.8
61.5
64.4
65.8
62.1
67.0
70.7
65.8
62.1
67.0
70.7
PE09
191.8
93.3
190.0
270.7
243.3
93.3
280.0
328.2
245.4
93.3
280.0
335.7
AS01
102.0
78.0
102.0
126.0
102.0
78.0
102.0
126.0
102.0
78.0
102.0
126.0
AS02
12
74.3
66.5
77.5
88.3
12
95.3
81.3
92.8
121.0
12
102.2
81.3
92.8
126.7
Executive Assistant
AS03
12
61.9
49.8
58.5
69.3
12
66.9
53.6
59.8
77.4
12
68.5
53.6
59.8
83.8
AS04
39.2
24.7
46.2
48.5
42.0
26.5
52.2
53.2
42.4
26.6
53.0
54.1
Receptionist
AS05
22.3
18.0
30.6
30.8
22.5
18.2
31.0
31.0
23.5
18.2
31.0
32.5
FN01
15
182.7
169.7
200.0
201.7
15
238.1
200.0
244.0
272.5
15
300.4
200.0
244.0
320.9
Controller
FN02
95.0
72.0
110.0
123.8
118.5
88.0
124.9
141.1
118.5
88.0
124.9
141.1
FN03
85.5
50.0
99.3
125.0
95.5
50.0
123.1
125.0
95.5
50.0
123.1
125.0
Senior Accountant
FN04
45.8
30.7
45.8
60.9
55.6
35.6
55.6
75.5
55.6
35.6
55.6
75.5
Junior Accountant
FN05
37.6
30.0
42.8
50.4
41.8
31.5
46.3
56.6
41.8
31.5
46.3
56.6
Fund Accountant
FN06
103.8
95.6
103.8
111.9
114.3
105.9
114.3
122.6
114.3
105.9
114.3
122.6
MK01
95.5
65.8
95.5
125.3
138.0
87.0
138.0
189.0
138.0
87.0
138.0
189.0
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
94.3
64.0
94.3
124.7
129.3
81.5
129.3
177.2
129.3
81.5
129.3
177.2
IR02
30.8
24.4
30.8
37.1
30.8
24.4
30.8
37.1
30.8
24.4
30.8
37.1
Chief Legal Counsel
LG01
598.5
479.3
598.5
717.8
608.5
484.3
608.5
732.8
608.5
484.3
608.5
732.8
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
58.0
42.0
58.0
74.0
62.0
44.0
62.0
80.0
62.0
44.0
62.0
80.0
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
65.3
42.9
55.0
82.5
68.6
42.9
55.0
87.5
68.6
42.9
55.0
87.5

Small LBO/VC/Mezz - Continued
Carried Interest
Small LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
21
5.9%
3.5%
6.4%
8.0%
21
8.2
3.4
6.0
13.3
21
10.7
5.2
9.8
15.6
PE02
18
2.9%
1.9%
2.9%
3.6%
18
4.0
2.6
3.8
5.8
19
6.9
2.7
5.2
10.4
PE03
13
1.7%
1.4%
1.7%
2.0%
13
2.7
1.2
1.7
4.4
13
3.6
1.7
2.3
4.4
PE04
10
1.0%
0.3%
0.5%
1.0%
12
1.3
0.4
0.7
1.7
12
1.9
0.5
1.0
2.0
Senior Associate
PE05
0.4%
0.1%
0.2%
0.6%
0.4
0.1
0.2
0.5
1.3
0.2
0.3
1.4
Associate
PE06
0.2%
0.2%
0.2%
0.2%
0.5
0.4
0.5
0.5
0.5
0.4
0.5
0.5
Senior Analyst
PE07
0.1%
0.1%
0.1%
0.1%
0.1
0.1
0.1
0.1
0.2
0.2
0.2
0.3
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
0.4%
0.3%
0.4%
0.6%
0.4
0.3
0.4
0.6
1.1
0.3
0.8
1.5
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
0.2%
0.1%
0.2%
0.3%
0.2
0.1
0.1
0.3
0.4
0.2
0.4
0.6
Executive Assistant
AS03
0.1%
0.1%
0.1%
0.1%
0.1
0.1
0.1
0.2
0.2
0.1
0.2
0.2
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
10
1.1%
0.3%
0.5%
1.3%
10
1.4
0.5
1.0
1.6
10
2.8
0.9
1.8
3.9
Controller
FN02
0.1%
0.1%
0.1%
0.1%
0.2
0.1
0.2
0.2
0.2
0.2
0.2
0.3
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
1.0%
0.5%
1.0%
1.5%
1.5
1.4
1.5
1.6
3.0
2.3
3.0
3.7
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

All LBO/VC/Mezz
Base Salary ($000)
All LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
62
881.3
350.0
640.0
1,288.8
62
1,574.0
663.0
1,297.5
2,088.6
62
2,583.5
725.0
1,654.9
2,848.7
PE02
43
513.6
265.8
416.7
615.0
43
889.2
437.5
639.8
1,042.8
43
1,658.8
475.0
793.4
2,090.5
PE03
48
419.5
247.5
337.5
527.7
48
594.6
448.2
548.3
671.5
48
817.8
481.3
608.8
881.9
PE04
53
226.2
169.8
215.1
271.3
53
332.0
271.8
329.0
386.3
53
411.7
271.8
350.0
430.0
Senior Associate
PE05
42
156.9
125.0
150.0
177.4
42
239.7
179.5
246.5
285.0
42
249.7
179.5
246.5
294.4
Associate
PE06
36
124.5
101.0
112.5
143.8
36
188.1
149.4
184.1
203.8
36
189.1
149.4
184.1
208.4
Senior Analyst
PE07
16
96.0
89.0
91.6
112.0
16
153.0
137.6
155.0
168.7
16
153.0
137.6
155.0
168.7
Analyst
PE08
14
71.0
57.0
62.7
90.0
14
93.5
66.5
81.0
103.8
14
93.5
66.5
81.0
103.8
PE09
17
231.8
100.0
200.0
311.3
17
284.8
100.0
280.0
375.0
17
285.7
100.0
280.0
375.0
AS01
11
475.0
337.5
500.0
525.0
11
615.8
483.0
550.0
812.5
11
829.8
500.0
550.0
812.5
AS02
29
81.0
70.0
82.0
92.0
29
98.8
76.0
96.2
119.0
29
133.6
84.0
111.8
124.0
Executive Assistant
AS03
37
73.5
57.0
68.5
89.3
37
82.0
65.6
78.0
100.0
37
82.5
65.6
79.3
100.0
AS04
19
57.7
47.5
60.0
69.0
19
63.2
52.2
62.0
77.0
19
86.6
53.4
62.0
79.5
Receptionist
AS05
17
48.2
37.0
50.0
55.0
17
51.9
38.0
55.0
61.0
17
52.1
38.0
55.0
61.0
FN01
40
270.1
200.0
220.0
331.3
40
360.6
251.5
310.5
434.4
40
439.6
251.5
340.8
517.8
Controller
FN02
38
147.4
115.0
132.1
167.8
38
188.3
130.5
177.0
217.3
38
223.8
132.1
181.0
241.5
FN03
15
107.9
91.2
115.0
128.4
15
126.4
112.0
125.0
154.0
15
126.4
112.0
125.0
154.0
Senior Accountant
FN04
19
87.0
75.0
85.0
90.5
19
101.9
83.5
96.0
109.5
19
104.7
83.5
96.0
114.5
Junior Accountant
FN05
56.6
51.6
59.7
60.9
63.2
62.4
66.3
69.1
63.2
62.4
66.3
69.1
Fund Accountant
FN06
96.8
78.3
87.4
116.3
113.5
93.7
98.6
131.9
114.9
93.7
98.6
131.9
MK01
259.4
153.8
175.0
335.0
297.8
206.0
243.8
385.4
305.5
206.0
248.9
385.4
Marketing Manager
MK02
10
135.2
78.0
120.5
191.3
10
177.5
115.4
160.5
217.6
10
308.1
115.4
192.5
262.8
IR01
175.6
137.5
200.0
239.0
267.6
225.0
292.0
315.0
274.5
225.0
292.0
315.0
IR02
114.0
86.3
124.4
150.0
142.1
94.1
125.0
196.6
147.6
94.1
125.0
196.6
Chief Legal Counsel
LG01
446.5
343.8
370.0
502.5
487.3
371.3
415.0
597.0
489.0
371.3
422.0
597.0
LG02
337.5
256.3
337.5
418.8
496.9
336.0
496.9
657.9
496.9
336.0
496.9
657.9
HR01
202.2
150.0
171.5
217.0
222.0
150.0
188.5
259.3
222.0
150.0
188.5
259.3
HR02
138.1
90.0
122.0
185.0
161.0
98.0
122.0
240.0
172.5
98.2
178.3
240.0
IT01
148.9
123.8
165.0
172.5
169.6
139.7
173.0
200.0
169.6
139.7
173.0
200.0
IT02
12
120.8
80.3
107.5
170.3
12
136.3
93.9
119.7
190.5
12
136.3
93.9
119.7
190.5

All LBO/VC/Mezz - Continued
Carried Interest
All LBO/VC/Mezz
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
59
5.74%
3.32%
4.30%
6.46%
59
18.9
6.5
15.0
25.9
23
43.6
13.2
32.5
54.3
PE02
40
2.81%
1.96%
2.54%
3.54%
41
10.9
3.5
6.8
15.7
41
23.7
5.2
13.2
27.9
PE03
47
1.50%
0.89%
1.41%
2.00%
47
6.1
1.7
4.8
8.7
47
10.4
3.3
6.7
13.0
PE04
42
0.68%
0.25%
0.42%
0.76%
44
2.7
0.9
1.7
3.4
44
3.7
1.4
2.2
4.7
Senior Associate
PE05
21
0.26%
0.11%
0.21%
0.25%
21
1.6
0.4
1.2
1.7
21
1.9
0.6
1.5
3.2
Associate
PE06
0.26%
0.10%
0.15%
0.25%
1.0
0.5
0.6
0.8
1.0
0.6
0.6
0.8
Senior Analyst
PE07
0.11%
0.10%
0.10%
0.12%
0.2
0.1
0.2
0.2
0.3
0.2
0.3
0.4
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
11
0.46%
0.25%
0.32%
0.52%
11
1.8
0.6
1.3
1.8
11
3.3
1.0
1.9
3.0
AS01
10
1.18%
0.76%
0.95%
1.38%
10
4.8
2.6
3.4
4.0
10
10.9
4.1
6.1
13.2
AS02
0.15%
0.07%
0.14%
0.20%
10
0.2
0.1
0.1
0.2
10
0.3
0.1
0.2
0.5
Executive Assistant
AS03
0.08%
0.07%
0.10%
0.10%
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
AS04
0.04%
0.01%
0.03%
0.06%
0.1
0.0
0.1
0.2
0.2
0.1
0.1
0.2
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
31
0.68%
0.26%
0.45%
0.84%
31
1.9
0.8
1.3
2.7
31
4.6
1.4
3.5
6.0
Controller
FN02
19
0.16%
0.10%
0.13%
0.23%
18
0.4
0.2
0.4
0.6
18
0.9
0.3
0.6
1.1
FN03
0.02%
0.01%
0.02%
0.02%
0.1
0.1
0.1
0.2
0.3
0.2
0.2
0.4
Senior Accountant
FN04
0.16%
0.15%
0.16%
0.18%
0.2
0.1
0.1
0.3
0.4
0.1
0.1
0.5
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
0.71%
0.06%
0.08%
1.04%
1.0
0.6
1.0
1.4
1.2
0.8
1.4
1.6
Marketing Manager
MK02
0.22%
0.05%
0.12%
0.40%
1.3
0.4
0.5
2.3
2.6
0.5
1.6
4.0
IR01
0.12%
0.05%
0.14%
0.19%
1.6
0.6
0.7
1.3
1.7
0.6
1.2
1.3
IR02
0.06%
0.02%
0.06%
0.10%
0.2
0.1
0.1
0.3
0.4
0.1
0.1
0.4
Chief Legal Counsel
LG01
0.63%
0.22%
0.46%
0.61%
1.6
1.3
1.7
1.8
3.3
1.6
3.0
4.5
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
0.38%
0.05%
0.08%
0.55%
0.9
0.6
0.8
1.2
1.1
1.0
1.5
1.5
HR02
0.03%
0.02%
0.03%
0.04%
0.2
90.0
122.0
185.0
0.5
0.3
0.5
0.6
IT01
0.11%
0.06%
0.11%
0.15%
0.4
0.3
0.4
0.5
0.4
0.3
0.4
0.5
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Large Fund of Funds
Base Salary ($000)
Large Fund of Funds
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
549.9
337.4
400.0
612.5
1,813.0
1,413.0
1,850.0
2,250.0
1,840.5
1,413.0
1,905.0
2,332.5
PE02
269.9
263.2
269.9
276.6
685.1
675.5
685.1
694.6
685.1
675.5
685.1
694.6
PE03
232.1
218.1
223.7
241.9
636.3
464.5
521.9
750.9
643.0
464.5
521.9
760.9
PE04
167.4
148.5
150.3
169.1
268.0
258.1
272.1
281.9
268.5
258.6
272.1
281.9
Senior Associate
PE05
121.8
117.7
121.8
125.9
180.5
180.3
180.5
180.8
180.5
180.3
180.5
180.8
Associate
PE06
88.6
77.9
80.8
95.4
130.3
102.9
105.8
145.5
130.3
102.9
105.8
145.5
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
60.2
53.8
61.0
67.4
76.0
65.8
74.0
84.2
76.0
65.8
74.0
84.2
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
98.7
83.0
91.0
110.5
129.9
104.8
119.6
149.8
129.9
104.8
119.6
149.8
Executive Assistant
AS03
68.0
61.5
75.0
78.0
81.0
75.5
89.0
90.5
81.0
75.5
89.0
90.5
AS04
49.5
46.8
49.5
52.3
55.7
51.3
55.7
60.0
55.7
51.3
55.7
60.0
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
287.2
230.7
287.2
343.6
405.8
371.1
405.8
440.4
405.8
371.1
405.8
440.4
Controller
FN02
150.8
113.8
127.5
176.3
278.2
154.9
189.7
357.4
278.2
154.9
189.7
357.4
FN03
94.7
92.3
94.7
97.0
125.6
124.3
125.6
126.8
125.6
124.3
125.6
126.8
Senior Accountant
FN04
68.0
64.0
68.0
72.0
80.3
72.6
80.3
87.9
80.3
72.6
80.3
87.9
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
68.7
50.5
55.0
80.0
84.3
60.3
74.5
103.5
84.3
60.3
74.5
103.5
MK01
195.0
192.5
195.0
197.5
425.0
412.5
425.0
437.5
425.0
412.5
425.0
437.5
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
115.0
107.5
115.0
122.5
146.3
123.1
146.3
169.4
146.3
123.1
146.3
169.4
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Large Fund of Funds - Continued
Carried Interest
Large Fund of Funds

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
6.9%
0.7%
2.4%
8.6%
6.4
2.8
7.0
10.6
29.3
11.2
23.6
41.7
PE02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE03
4.8%
0.2%
0.4%
7.2%
2.5
0.7
1.4
3.7
6.5
2.8
5.6
9.8
PE04
0.6%
0.2%
0.3%
0.8%
0.7
0.6
0.8
1.0
2.7
1.0
2.5
4.2
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.4%
0.3%
0.4%
0.4%
1.3
1.2
1.3
1.3
5.3
5.1
5.3
5.5
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Mid-Size Fund of Funds
Base Salary ($000)
Mid-Size Fund of Funds
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
440.0
360.0
440.0
520.0
740.0
510.0
740.0
970.0
840.0
660.0
840.0
1,020.0
PE02
447.5
346.3
447.5
548.8
497.5
371.3
497.5
623.8
572.5
483.8
572.5
661.3
PE03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
100.0
95.0
100.0
105.0
120.0
105.0
120.0
135.0
120.0
105.0
120.0
135.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
110.0
102.5
110.0
117.5
110.0
102.5
110.0
117.5
116.0
105.5
116.0
126.5
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

All Fund of Funds
Base Salary ($000)
All Fund of Funds
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
513.3
312.3
400.0
562.5
1,455.3
826.4
1,425.0
1,950.0
1,507.0
826.4
1,425.0
2,032.5
PE02
339.0
256.5
260.0
283.3
669.0
666.0
704.2
750.0
703.0
666.0
704.2
750.0
PE03
232.1
218.1
223.7
241.9
636.3
464.5
521.9
750.9
643.0
464.5
521.9
760.9
PE04
167.4
148.5
150.3
169.1
268.0
258.1
272.1
281.9
268.5
258.6
272.1
281.9
Senior Associate
PE05
124.5
121.8
130.0
130.0
163.7
155.0
180.0
180.5
163.7
155.0
180.0
180.5
Associate
PE06
93.2
80.8
90.0
110.0
126.2
100.0
105.8
150.0
126.2
100.0
105.8
150.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
60.2
53.8
61.0
67.4
76.0
65.8
74.0
84.2
76.0
65.8
74.0
84.2
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
106.5
94.8
106.5
118.3
142.4
123.6
142.4
161.2
142.4
123.6
142.4
161.2
Executive Assistant
AS03
68.0
61.5
75.0
78.0
81.0
75.5
89.0
90.5
81.0
75.5
89.0
90.5
AS04
49.5
46.8
49.5
52.3
55.7
51.3
55.7
60.0
55.7
51.3
55.7
60.0
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
198.6
117.5
149.7
230.7
257.9
117.5
230.8
371.1
260.9
126.5
236.8
371.1
Controller
FN02
138.1
100.0
113.8
151.9
234.9
116.3
154.9
273.5
236.2
117.5
154.9
273.5
FN03
94.7
92.3
94.7
97.0
125.6
124.3
125.6
126.8
125.6
124.3
125.6
126.8
Senior Accountant
FN04
68.0
64.0
68.0
72.0
80.3
72.6
80.3
87.9
80.3
72.6
80.3
87.9
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
68.7
50.5
55.0
80.0
84.3
60.3
74.5
103.5
84.3
60.3
74.5
103.5
MK01
195.0
192.5
195.0
197.5
425.0
412.5
425.0
437.5
425.0
412.5
425.0
437.5
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
115.0
107.5
115.0
122.5
146.3
123.1
146.3
169.4
146.3
123.1
146.3
169.4
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
160.0
145.0
160.0
175.0
185.0
182.5
185.0
187.5
185.0
182.5
185.0
187.5
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
130.0
117.5
130.0
142.5
228.5
187.8
228.5
269.3
228.5
187.8
228.5
269.3
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

All Fund of Funds - Continued
Carried Interest
All Fund of Funds

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
1.66%
0.92%
1.33%
2.06%
6.4
3.7
6.0
10.3
26.7
14.9
15.0
32.2
PE02
1.33%
1.02%
1.16%
1.46%
5.1
4.5
5.5
6.1
10.4
8.4
10.6
12.7
PE03
0.78%
0.56%
0.78%
0.99%
3.7
2.5
3.7
4.8
9.8
7.7
9.8
11.9
PE04
0.27%
0.19%
0.23%
0.34%
1.0
0.8
0.9
1.1
3.6
2.5
3.7
4.8
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.32%
0.26%
0.30%
0.37%
1.2
1.1
1.2
1.3
4.2
3.4
4.9
5.3
Controller
FN02
0.07%
0.05%
0.07%
0.09%
0.3
0.2
0.3
0.4
0.3
0.2
0.3
0.4
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Large Institutional
Base Salary ($000)
Large Institutional
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
795.1
325.0
400.0
682.5
1,828.0
1,092.5
2,000.0
2,392.5
3,104.8
1,092.5
2,392.5
3,140.2
PE02
449.5
265.8
500.0
557.2
966.6
730.5
939.4
1,147.6
1,816.3
802.7
1,145.1
1,742.9
PE03
10
384.6
225.2
357.5
565.6
10
741.0
520.5
634.4
862.5
10
1,037.0
540.6
725.6
1,344.6
PE04
10
195.5
166.8
188.7
225.5
10
396.0
305.6
331.9
492.5
10
417.6
305.6
331.9
492.5
Senior Associate
PE05
160.1
127.9
150.8
190.8
289.3
247.3
297.2
336.3
301.9
247.3
297.2
336.3
Associate
PE06
108.3
97.0
106.3
117.8
187.2
151.9
191.3
213.9
189.6
151.9
191.3
213.9
Senior Analyst
PE07
99.5
94.9
101.8
106.4
155.2
137.6
148.6
166.3
155.2
137.6
148.6
166.3
Analyst
PE08
65.6
64.0
65.6
67.1
85.2
82.1
85.2
88.4
85.2
82.1
85.2
88.4
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
483.3
237.5
325.0
650.0
811.7
705.0
975.0
1,000.0
1,502.9
751.4
1,025.0
2,015.5
AS02
105.7
88.6
102.5
119.6
122.9
111.3
121.8
133.4
122.9
111.3
121.8
133.4
Executive Assistant
AS03
90.8
78.7
84.0
99.5
97.7
86.6
95.0
107.5
97.7
86.6
95.0
107.5
AS04
67.7
60.6
67.7
74.7
71.8
64.7
71.8
79.0
71.8
64.7
71.8
79.0
Receptionist
AS05
60.0
59.0
60.0
61.0
65.5
63.3
65.5
67.8
65.5
63.3
65.5
67.8
FN01
351.8
209.7
245.0
440.5
507.2
340.8
345.0
592.5
507.2
340.8
345.0
592.5
Controller
FN02
167.7
130.3
140.6
178.0
214.5
173.4
185.5
226.5
214.5
173.4
185.5
226.5
FN03
122.7
107.3
123.3
138.6
144.4
139.5
146.8
151.6
144.4
139.5
146.8
151.6
Senior Accountant
FN04
77.1
72.1
76.0
81.5
90.6
84.4
95.5
99.3
90.6
84.4
95.5
99.3
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
71.4
67.7
71.4
75.1
76.4
72.7
76.4
80.1
76.4
72.7
76.4
80.1
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
123.7
75.0
150.0
185.5
319.0
303.5
315.0
332.5
325.0
312.6
333.1
341.6
IR02
151.2
141.3
165.0
168.1
200.7
178.5
239.5
242.2
215.3
178.5
239.5
264.1
Chief Legal Counsel
LG01
457.1
410.0
420.0
485.6
632.4
473.0
546.0
748.6
632.4
473.0
546.0
748.6
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
126.5
105.8
126.5
147.3
145.5
123.3
145.5
167.8
145.5
123.3
145.5
167.8

Large Institutional - Continued
Carried Interest
Large Institutional
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
1.8%
0.9%
1.4%
2.1%
25.1
2.9
36.0
36.5
66.0
11.3
48.8
105.6
PE02
1.0%
0.7%
1.0%
1.3%
19.6
1.7
9.8
24.2
42.1
5.0
12.3
50.4
PE03
1.0%
0.3%
0.5%
1.5%
11.2
1.0
12.5
21.5
19.0
4.2
21.6
30.8
PE04
0.3%
0.1%
0.1%
0.4%
4.0
0.5
1.0
6.0
5.7
0.8
1.9
8.4
Senior Associate
PE05
0.1%
0.0%
0.1%
0.2%
1.4
0.0
0.1
2.3
1.6
0.0
0.1
3.1
Associate
PE06
0.0%
0.0%
0.0%
0.0%
0.2
0.0
0.0
0.2
0.2
0.0
0.0
0.2
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
0.8%
0.3%
0.6%
1.2%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
0.4%
0.2%
0.3%
0.6%
1.7
1.1
1.2
2.1
12.1
2.9
4.9
17.7
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
0.3%
0.1%
0.2%
0.4%
2.6
1.6
2.6
3.7
2.6
1.6
2.6
3.7
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
0.3%
0.1%
0.2%
0.5%
3.5
1.5
3.0
5.3
3.5
1.5
3.0
5.3
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Small & Mid-Size Institutional
Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
439.6
300.0
326.9
487.5
725.3
500.0
653.8
734.5
1,031.7
622.5
794.0
1,332.0
PE02
293.1
225.0
275.0
350.0
397.6
275.0
400.0
515.0
627.0
290.0
400.0
637.5
PE03
238.1
182.1
240.0
287.5
309.1
234.5
325.0
384.8
459.0
262.5
396.0
577.3
PE04
181.5
140.0
200.0
205.0
231.7
173.3
240.0
252.3
272.9
173.3
240.0
378.0
Senior Associate
PE05
94.5
86.0
90.0
105.5
123.2
111.0
115.0
137.0
134.6
111.0
130.0
169.8
Associate
PE06
85.3
70.5
80.0
97.5
102.3
93.5
110.0
115.0
102.3
93.5
110.0
115.0
Senior Analyst
PE07
87.5
81.3
87.5
93.8
91.0
83.0
91.0
99.0
91.0
83.0
91.0
99.0
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
80.3
77.5
80.0
83.0
105.7
96.0
102.0
113.5
105.7
96.0
102.0
113.5
Executive Assistant
AS03
65.9
58.0
60.0
70.8
72.5
64.2
65.5
77.3
78.8
73.6
84.1
86.6
AS04
50.4
42.7
47.0
54.8
51.2
44.2
48.6
55.6
51.2
44.2
48.6
55.6
Receptionist
AS05
32.2
30.3
32.2
34.1
33.2
30.8
33.2
35.6
33.2
30.8
33.2
35.6
FN01
197.3
146.0
150.0
225.0
246.7
171.0
192.0
295.0
254.3
182.5
214.9
306.5
Controller
FN02
131.5
124.8
142.0
148.8
157.2
145.9
164.0
175.3
157.2
145.9
164.0
175.3
FN03
97.6
88.9
97.6
106.3
115.1
106.7
115.1
123.6
135.9
134.0
135.9
137.9
Senior Accountant
FN04
77.7
71.5
83.0
86.5
85.9
81.4
91.0
93.0
85.9
81.4
91.0
93.0
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
212.5
168.8
212.5
256.3
283.5
217.8
283.5
349.3
353.8
323.1
353.8
384.4
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Small & Mid-Size Institutional - Continued
Carried Interest

Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
3.5%
0.0%
2.2%
6.0%
20.7
3.0
7.6
15.7
25.5
3.2
21.0
25.6
PE02
1.6%
0.0%
0.0%
3.0%
2.0
0.0
0.0
3.5
6.9
0.0
1.7
13.0
PE03
1.2%
0.0%
1.1%
2.1%
1.7
0.0
1.2
2.7
3.4
0.3
1.2
4.9
PE04
0.3%
0.0%
0.0%
0.5%
0.8
0.0
0.0
0.8
1.8
0.0
0.0
4.5
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.6
0.1
0.1
0.9
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
0.2
0.2
0.2
0.3
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Base Salary ($000)
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th
75th
PE01
453.3
380.0
400.0
500.0
1,391.3
1,112.0
1,564.0
1,757.0
1,391.3
1,112.0
1,564.0
1,757.0
PE02
483.3
425.0
550.0
575.0
925.7
725.0
1,150.0
1,238.5
925.7
725.0
1,150.0
1,238.5
PE03
322.3
180.0
281.3
500.0
725.7
380.0
798.5
800.0
725.7
380.0
798.5
800.0
PE04
163.8
145.6
163.8
181.9
377.6
316.3
377.6
438.8
377.6
316.3
377.6
438.8
Senior Associate
PE05
115.0
101.3
117.5
131.3
175.4
101.3
167.5
241.7
175.4
101.3
167.5
241.7
Associate
PE06
80.0
65.0
90.0
100.0
133.3
95.0
150.0
180.0
133.3
95.0
150.0
180.0
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
42.5
36.3
42.5
48.8
45.5
37.8
45.5
53.3
45.5
37.8
45.5
53.3
FN01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Controller
FN02
97.5
71.3
112.5
131.3
100.9
76.4
122.7
136.4
100.9
76.4
122.7
136.4
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Infrastructure/Distressed/Turnaround - Continued
Carried Interest
Firm
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
PE01
5.0%
3.5%
7.0%
7.5%
3.7
1.5
3.0
5.6
20.7
10.6
21.2
31.1
PE02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE03
1.1%
0.0%
0.2%
1.4%
1.8
0.0
0.6
4.0
3.9
0.0
4.5
7.3
PE04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Controller
FN02
N/A
N/A
N/A
N/A
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Firm

Firm

Corporate Venturing
Base Salary ($000)
Corporate Venturing
Firm
Avg.
25th
50th
75th
Firm
Avg.
25th
50th

75th
Firm
Avg.
25th
50th
75th
PE01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE02
325.0
287.5
325.0
362.5
414.0
352.0
414.0
476.0
956.5
623.3
956.5
1,289.8
PE03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE04
161.7
140.0
140.0
172.5
186.4
156.7
173.3
209.7
230.4
156.7
173.3
275.7
Senior Associate
PE05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Associate
PE06
97.5
88.8
97.5
106.3
115.0
112.5
115.0
117.5
115.0
112.5
115.0
117.5
Senior Analyst
PE07
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Analyst
PE08
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
PE09
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Executive Assistant
AS03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AS04
61.5
54.8
61.5
68.3
61.5
54.8
61.5
68.3
61.5
54.8
61.5
68.3
Receptionist
AS05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Controller
FN02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FN03
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Senior Accountant
FN04
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Junior Accountant
FN05
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Fund Accountant
FN06
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
MK01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Marketing Manager
MK02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Chief Legal Counsel
LG01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
LG02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HR02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT01
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
IT02
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Compensation Levels Asia Pacific

All Firms
AsiaPacicdatawasreportedbyatleast16rms.However,noneofthermsreportedthetoppositionofmanaginggeneralpartnerandonlyfourrmsreported
thesecondlevelpositionofseniorpartner.Theaveragecompensationisinuencedbyafewhighand/orlowpayingrms,soweencouragereadersofthisreport
tofocusonthemedian(or50thpercentile).
MostofthermsalsohaveemployeesintheUnitedStatesandseveralareheadquarteredintheUnitedStates.Thisprobablyaccountsforthelackofdataforthetop
twopositions.
Therewasnotenoughinformationtoallocatethedatabytypeorsizeofrm.Thismeanssomermsreportedononepositionbutnotanother.Theresultofcourse
isthatthisalsohasaneectonthedatafromonepositiontoanother.

Firm Classification
Base Salary ($000)
# of Firms
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Avg.
25th
50th
75th
Senior Partner / Senior Managing Director(s)
1,685.3
384.4
449.6
1,750.6
5,436
552.3
588.2
5,472.2
5,436
552.3
588.2
5,472.2
Partner / Managing Director(s) / Portfolio Manager
10
307.0
219.8
298.1
379.0
636
277.6
492.1
1,004.6
888
277.6
507.9
1,482.9
Principal / Vice President / Director(s)
16
479.3
165.0
239.1
268.9
1,450
259.6
378.5
727.4
1,450
259.6
378.5
727.4
Senior Associate(s)
12
375.1
110.4
131.4
174.1
1,170
131.1
174.0
298.7
1,170
131.1
174.0
298.7
Associate(s)
117.3
78.4
92.8
162.1
209
78.4
113.6
329.9
209
78.4
113.6
329.9
Senior Analyst(s)
81.7
46.9
67.4
109.4
107
59.9
87.4
144.4
107
59.9
87.4
144.4
Analyst(s)
32.7
N/A
32.7
N/A
34
N/A
34.4
N/A
34
N/A
34.4
N/A
384.8
327.2
338.0
419.0
385
327.2
338.0
419.0
385
327.2
338.0
419.0
Executive Assistant
67.3
56.2
87.0
88.3
79
65.6
104.4
105.2
79
65.6
104.4
105.2
Secretary/ Administrator
47.1
25.0
39.0
61.1
52
29.5
46.0
68.9
52
29.5
46.0
68.9
Firm Classification
Senior Partner / Senior Managing Director(s)
Partner / Managing Director(s) / Portfolio Manager
Principal / Vice President / Director(s)
Senior Associate(s)
Carried Interest % of Most Recent Fund

# of Firms
3
7
9
5
Avg.
2.28%
0.64%
0.46%
0.11%
25th
1.92%
0.18%
0.08%
0.02%
50th
2.00%
0.39%
0.08%
0.04%
75th
2.50%
0.80%
0.80%
0.19%
Dollars At Work Most Recent Fund

(Millions)
Avg.
25th
50th
75th
10.5
4.7
6.0
14.0
5.8
6.1
7.0
7.0
2.8
1.5
3.0
3.1
1.0
0.5
0.8
1.4

Avg.
13.1
11.8
5.0
1.1
25th
5.0
9.7
1.9
0.6
50th
13.3
10.0
3.1
1.1
75th
21.4
12.1
5.6
1.6
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EXPERIENCETOP-TIER
SERVICE
EXPERIENCETOP-TIER
SERVICE
TOP-TIER
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the alternative investment industry. Our goal is to not only provide audit and tax services but to act as a sounding board on issues impacting
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Rothstein Kass provides audit, tax and consulting services for venture capital funds, private equity funds, hedge funds, fund of funds, broker-dealers and registered investment advisors. Weve served the financial services industry for over 30 years and we are consistently ranked
as a top accounting services provider, which is a reflection of our technical acumen and our commitment to client service.
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Dont take chances when it comes to the audit, tax and advisory services for your funds. To find out more about what Rothstein Kass can do
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2012-2013 Holt Thomson Reuters Private

Equity and Venture Capital Compensation Report

Financial and Operational Data

Year to Year Changes in Compensation Levels

Compensation Levels Per Position (By type & Size of Firm)

VII. Compensation Levels By Type & Size of Firm

Source: Thomson Reuters, as of Sept. 14

LBO / Growth Equity (Small/MidSize)

LBO / Growth Equity (All)

1.4% 0.7% 1.4% 1.8%

1.7% 0.9% 1.4% 2.0%

2.2% 1.2% 2.0% 2.7% 3.6% 2.0% 2.7% 3.4%

4.7% 2.5% 4.0% 4.9% 6.3% 2.0% 3.2% 4.5%

1.4% 0.3% 1.3% 2.0%

3.3% 0.7% 2.5% 4.3% 4.6% 1.9% 2.6% 3.7%

Payroll Cost As % of GP Fees/

LBO / Growth Equity (Large)

LBO / Growth Equity (Small/Mid-Size)

Venture Capital (Small/Mid-Size)

LBO / Growth Equity (All)

Venture Capital (All)

Salary + Bonus + Carry Distribution

Scope and Methodology

Committed Capital - All Active Funds (Millions)

* Includes firms counted in more than one category

Scope and Methodology

Scope and Methodology

Scope and Methodology

Scope & Methodology

About The Authors

Holt Private Equity Consultants specializes in

MM & K is a leading independent remuneration

Prior to founding Holt Private Equity

II. Financial & Operational Data

Financial and Operational Data

* Includes firms counted in more than one category

Financial and Operational Data

Financial and Operational Data

Financial and Operational Data

Financial and Operational Data

Financial and Operational Data

III. Human Capital

Committed Capital (All Active Funds) Per Investment Manager Millions

Management Fees Per Investment Manager - Millions

All Investment Professionals

Portfolio Companies Per Investment Manager

All Investment Professionals

All Investment Professionals

IV. Compensation Strategy

Investment Professionals (Partner)

Investment Professionals (Non-Partner)

Administrative / Support Staff (Partner)

Administrative / Support Staff (Non-Partner)

The carried interest percent is worthy of note, but more

More than onehalf of rms base vesting for partners on

The percent of carried interest that is forfeited usually

Most rms make carried interest distributions at the time of exit

Portion of Benefits Paid by the Firm - Partner Level

Basic Life InsuranceSupplemental Life Insurance

Basic Life InsuranceSupplemental Life Insurance

If your firm provides a 401(k) matc h, on what basis

If your firm provides 401(k) contributions,

Firm Classific ation