2025 Pulse Survey – PE, VC & Infrastructure Fund Managers’ Compensation

MM&K is the leading UK and European adviser in the field of private equity, venture capital, and infrastructure fund management firms’ compensation policies, structures, and levels. For over 29 years, we have advised numerous private equity, venture capital, infrastructure, and real estate fund management businesses—both captive and independent—on the design of remuneration policies and structures. Our expertise spans market practices in base pay levels, partner drawings, profit shares, annual bonus plans, carried interest, co-investment structures, and long-term incentive arrangements, including partnership/equity participation.

This month, MM&K launches its 2025 Private Equity/Venture Capital Pulse Survey, a supplementary survey to our main annual Private Equity/Venture Capital Compensation Survey, which will mark its 30th edition later this year – a landmark year for the alternative investment sector following UK government changes to carried interest.

The Pulse Survey is a concise survey focusing on recent HR and compensation trends in the private equity and venture capital industry. Key topics include:

• Changes in Base Salary levels for 2025
• Changes in Annual Bonus levels for the most recent performance year
• Challenges in retaining and motivating talent
• Adjustments to remuneration structures for 2025 due to the proposed Carry changes in the UK.

All participants receive in the pulse survey receive a free copy of the results.

If you are working within a Private Equity, Infrastructure, or Venture Capital firm and believe your organisation would benefit from participating in our Pulse Survey or main Compensation Survey, please contact Margarita Skripina.

The most recent edition of the MM&K Private Equity/Venture Capital Compensation Report is the 2024 edition. Click the links below to access previews:

Download a preview of the UK/European Report

Download a preview of the North American Report

For further information about the survey please click here or contact Margarita Skripina.

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