2025
Carried Interest &
Compensation Survey
This is the eighteenth edition of the survey which began in 2008. As a well-regarded resource in the private equity industry, this survey provides in-depth compensation insights and trends that support firms in benchmarking against industry standards.
This year we had 327 funds participate – 312 from the United States, 7 from Canada, and the balance from Europe, Australia, and Asia. The survey’s compensation data is comprised of salary, bonus and carried interest paid over the prior 12-month period.
The survey was conducted from September 18 to October 24, 2025, and this year’s final report spans 97 pages of graphs and data.
The survey highlights trends in salary, bonus, and carry compensation by fund size across 11 distinct partner/employee classes.
It also provides 5-year averages (2021 to 2025) for compensation across all partner/employee classes. Additionally, the survey details the allocation of carry by fund size and segments the results by five position categories: Partners, Top Professionals, Middle Professionals, Entry Professionals, and Administrative Staff.