Operating Partner Salary Report Across Private Equity Firms
November 28, 2024
At A Glance
Operating Partners play a critical role in driving operational improvements within portfolio companies in the Private Equity space. Understanding their compensation is key to navigating recruitment and retaining top-tier talent for your portfolio companies. Here’s a breakdown of the operating partner compensation data based on assets under management (AUM), as outlined by recent surveys.
OPERATING PARTNER COMPENSATION IN PRIVATE EQUITY FIRMS
We gathered insights from 88 Operating Partners working in Private Equity firms. The report breaks down compensation based on firm AUM.
RESPONDENT BREAKDOWN
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11% from firms under $500M AUM
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39% from firms with $500M–$5B AUM
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50% from firms over $5B AUM
BASE SALARY
Firms < $500M AUM
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Median: $345,556
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Range: $200,000 – $600,000
Firms $500M–$5B AUM
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Median: $377,400
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Range: $150,000 – $650,000
Firms > $5B AUM
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Median: $429,400
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Range: $225,000 – $900,000
BONUS
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100% of Operating Partners at firms <$500M receive a bonus of 50% or less
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85% at firms $500M–$5B receive a bonus of 50% or less
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39% at firms >$5B receive a bonus of 50% or less
EQUITY
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100% of Operating Partners at firms <$500M receive carry or partner share
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68% at firms $500M–$5B receive carry or partner share
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84% at firms >$5B receive carry or partner share
KEY TAKEAWAYS
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Median salary increases sharply with firm size—up to $429,400 at firms >$5B.
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Carry participation is universal at smaller firms and remains strong across the board.
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Bonus structures shift with scale: only 39% of large-firm Operating Partners receive 50% or less, showing more aggressive comp.
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Top-end base salary reaches $900,000, highlighting the high stakes of this role in larger funds.
GET IN TOUCH
Want to compare your package or looking for a strategic hire?
Contact Alex.Rawlings@Raw-Selection.com
Founder & Managing Partner
All the insights in this salary report are provided from our proprietary data
Raw Selection | De-Risking Executive Search for Private Equity firms across Europe and North America.
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