2025 Compensation Survey

Private Credit compensation remains strong, with Associates making $267k/year, and 75th percentile Associates making $307k/year. This trend is even stronger in NYC, with $293k/year compensation for Associates in NYC, with Senior Associates quickly reaching $400k+ compensation levels. Compensation dramatically increases after 7-12 years of experience, with folks making $500k-$700k/year.

Please note, that in this profession Senior Analysts refer analysts with "seniority", as opposed to recent college grads. We've found that mid-level professionals are making a healthy living with ~$235k-$426k in total compensation.

NYC Private Equity Associates make an average total compensation of $322k, while U.S. Private Equity Associates have an average total compensation of $268k. We found that mid-level PE professionals have a quick path to $500k-$600k of total compensation. Naturally, LMM PE is the lowest paid segment of Private Equity, with compensation dramatically rising for Megafunds. To view more information on deferred compensation and carried interest, please view our Industry Analytics Add-On.

Due to weak deal flow, Investment Banking Analysts and Associates didn't have competitive compensation relative to high-paying buyside roles. However, we found that mid-level professionals are well compensated. Note, we believe hours are understated for investment bankers surveyed due to intern submissions and aren't reflective of the hours worked when there's significant deal flow.

Compensation of $350k-$550k for younger professionals is generally what we expected. However, compensation is significantly higher for PMs who are making multi-millions of dollars.