PE and VC Compensation: What Are the Latest Market Trends?

The 2026 MM&K PE/VC Compensation Report for the UK and Europe is now nearing publication. The report will only be available to participating firms, making this the final opportunity to participate and access the findings.

Why participate in the 2026 survey now?

The PE and VC market continues to evolve, making access to current compensation data increasingly important.

The 2026 Report will provide an up-to-date view of remuneration across the UK and European private capital markets.

It will cover key compensation trends across investment and non-investment roles.

Participation also provides an opportunity to acquire the final report, which will not be available to non-participants.

With publication approaching, firms that have not yet participated should therefore act now.

What did our 2025 data reveal?

Our 2025 results demonstrate the breadth of insight generated through the survey.

Management fees during the investment stage typically remained around 2% across firms.

This remains a widely recognised market benchmark, although fee pressure has increased in some areas.

The data also provides valuable insight into the economics underpinning remuneration across the sector.

What does the data show about diversity?

The 2025 results highlighted a significant gender imbalance at the General Partner level.

Women represented only 8% of General Partners on average across the firms surveyed.

The median result was even more striking. At the median firm, General Partner representation remained 100% male.

This demonstrates the value of looking beyond headline averages when assessing industry trends.

The data provides firms with a meaningful benchmark for assessing their own organisational profile.

Are carried interest structures changing?

Our 2025 data also showed the continued strength of established carried interest structures.

An 8% carried interest hurdle rate remained deeply embedded across the market. Despite changes in fundraising conditions and investor expectations, this fundamental feature remains remarkably consistent.

These findings provide important context when considering the overall design of senior remuneration packages.

Why does this insight matter?

The strength of the MM&K survey lies in the breadth of data collected across the private capital market. It allows firms to benchmark remuneration against relevant peers and understand wider market practices.

The 2025 results also clearly identify trends that may not be visible from individual remuneration benchmarking exercises.

They provide insight not only into pay levels, but also into fund economics, incentives and workforce composition.

What will the 2026 Report provide?

The 2026 Report will build on this analysis with the latest market data. It will provide participating firms with an updated benchmark for remuneration across UK and European PE and VC.

The findings will help firms assess competitiveness, identify emerging trends and inform remuneration decisions.

The report is now approaching publication.

Participation remains open for firms wishing to access the 2026 Report.

Final opportunity to participate – request your questionnaire now

If your firm has not yet submitted its 2026 survey data, there is still an opportunity to participate.

By taking part, firms will contribute to the market dataset and receive access to the completed 2026 Report, which is available only to participating firms.

With publication now approaching, this is the final opportunity to participate and secure access to the 2026 findings.

Contact MM&K to participate in the 2026 PE/VC Compensation Survey

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