Complete your payroll budget planning stress-free with the critical data and insight found in the 2025-2026 North American PE/VC Compensation Report.Â
The 2025-2026 edition is the most in-depth and comprehensive survey-based analysis of North American private equity and venture capital compensation, providing essential insights to help your firm recruit, retain, and motivate top talent with precision.
The report is broken down into two parts.
Part 1 describes firm-wide compensation practices such as:
- Annual bonus plans
- Carried interest plans
- Co-investment plans
- Employee benefits, i.e. healthcare insurance, retirement plans, etc.
- Payroll costs as percent of revenue
- Year-over-year salary, bonus and staffing changes
Part 2 includes:
- The average, median, bottom-quartile and top-quartile salaries
- Bonus and carry distribution and carry points and dollars at work assigned to employees in 52 different job titles at firms grouped by investment strategy and AUM.
Compensation data obtained from the following groups:
- LBO/growth equity firms by size
- Venture capital firms by size
- Mezzanine firms
- Funds of Funds
- Institutional private equity firms (owned by a company or investment bank)
The report also features break-outs for Asian firms.
Product is fulfilled in print and digital format.
The 2025-2026 Holt-MM&K-Buyouts North American Private Equity and
Venture Capital Compensation Report is a joint effort of three parties.
They are compensation consultants Holt Private Equity Consultants and
MM&K; and global private equity publisher Buyouts. It is jointly written
by:
- Michael Holt, Holt Private Equity Consultants
- Evie Taylor, Senior Research Manager, PEI
- Will Kelsey, Senior Research Associate, PEI
PART 1. Executive Summary
I. Introduction/Participant Summary
Key Findings
Firm Classifications (Type and Size)
Definitions
List of Positions Surveyed
List of Participants
About the Authors
PART 2. Qualitative Information
II. Financial and Operational Data
Committed Capital and Cost of Investments
Number of Funds Managed and Number of Portfolio Companies
Ownership Structure
Management Fees; Other Fees; Fee Ratios; Fee Splits
III. Human Capital
Number of Employees per Employee Group
Staffing Changes 2024/2025
Investment Manager Ratios (Capital/Fees/Portfolio Companies)
Human Capital Policies; Years to Partner/MBA Hiring &
Compensation
Payroll Cost and Total Employees
IV. Compensation Strategy
Types of Compensation
Salary & Bonus Changes
Annual Bonus Plans
Carried Interest Plans
Employee Benefits
General Partner Commitment (GPC)
Co-Investment Plans
PART 3. Quantitative Data
V. Year to Year Changes in Compensation Levels Geographic
Differences
VI. Compensation Levels Per Position by Type & Size of Firm
VII. Compensation Levels by Gender, Type & Size of Firm – North
America,
Asia Pacific, Employee Benefit Costs
