Nearly half of all chief financial officers or chief operating officers working at very large private equity firms made more than $1 million last year, according to a survey conducted by sister publication PEI Manager.
According to the 2008 Private Equity Finance & Operations Compensation Survey, 47 percent of CFOs and COOs working at private equity firms with more than $5 billion in assets under management made more than $1 million last year in total compensation, including base salary, bonus and carry.
Eighteen percent of CFOs working at firms with assets of between $1 billion and $5 billion made $1 million or more.
At firms with more than $5 billion in assets, 16 percent of CFOs and COOs made between $500,000 and $1 million in 2007, while 21 percent made between $350,000 and $500,000.
The survey, unveiled in January at the 5th Annual Private Equity CFO and COO Forum in New York, surveyed more than 130 CFOs, COOs and other operations professionals within private equity firms, including investor relations professionals and general counsel.
The full results are published in the March issue of PEI Manager.