2017 lp compensation survey · contents overview..... 3

.

Summary Results

December 2017

2017 LP Compensation Survey

Contents

Overview ................................................................................................................................................................................ 3

Executive Summary ......................................................................................................................................................... 3

Methodology ...................................................................................................................................................................... 4

Position Definitions ........................................................................................................................................................... 6

Profile of Respondents .................................................................................................................................................... 7

Survey Highlights ............................................................................................................................................................... 12

Base Compensation - Annual Raise (Excluding Promotions) ................................................................................. 12

Base Compensation - Annual Raise (Promotions Only) .......................................................................................... 13

Annual Bonus Eligibility ................................................................................................................................................. 14

Annual Bonus Payout Rate ........................................................................................................................................... 15

Annual Bonus Composition – Basis of Calculation ................................................................................................... 16

Annual Bonus Composition – Peer Benchmark Calculation for PE Investments ................................................. 18

Annual Bonus Composition – Public Benchmark Calculation for PE Investments .............................................. 19

Annual Bonus Composition – Qualitative Metrics ..................................................................................................... 20

Appendix – League Tables ............................................................................................................................................... 21

3 CONFIDENTIAL – 2017 LP Compensation Survey Summary

Overview

Executive Summary

In 2017, ILPA surveyed its members on a variety of topics related to compensation. The results of this survey are not scientific, but aim to provide institutional private equity LPs with an understanding of compensation trends, best practices, and benchmarks within peer groups. Below are the key findings from the 369 responses:

• The median annual raise across all respondents was 4.4%. Among the 75% that did not receive a

promotion (or significant increase in responsibilities), the median raise was 3.2%. Among the remaining

25% that were promoted, the median raise was 7.5%.

• For those not promoted, the median annual raise was nearly identical across organization types and

positions. While the median annual raise varied significantly among those who received a promotion.

• 66% of respondents were eligible for an Annual Bonus. But this rate varies widely among organization

types, with Public Pension employees (40%) reporting a significantly lower rate than the composite

representing Insurance, Private Pension, and Superannuation (86%).

• Among those who were eligible for an Annual Bonus, the median respondent was paid 85% of the

maximum amount they were eligible for.

• 68% of all respondents that were eligible for an Annual Bonus reported that their bonus calculation is

based (in-part) on qualitative and other non-performance qualitative metrics. 65% reported that their

calculation was partially-determined by the performance of their total investment program (Private Equity,

public, debt, etc.).

• Only 45% of all respondents reported that the performance of their Private Equity (PE) portfolio was

factored into their Annual Bonus calculation. However, by narrowing the sample to only respondents that

focus a majority of their time on PE (versus other private investments, including real estate), this rate

increases to 55%.

• Among respondents for whom PE performance is incorporated into their Annual Bonus calculation, 43.0%

use a peer-based index to benchmark their PE portfolio. 41.9% use a public index.

o Endowments and Foundations seem to favor a peer benchmark (85%), while Public Pensions

typically use a public index (63%).

o Cambridge Associates (44%) and Burgiss (30%) are the most popular peer-index choices.

o Almost half of respondents (44%) using a peer index will evaluate a three-year performance

window for their calculation. The second most frequently-used period is one-year (26%).

o S&P 500 (31%) is the most-used public index, followed by MSCI World (20%).

• Among legal professionals, the most common qualitative metric is “Efficient provision of services to

internal clients” (92%).

This document provides survey results, analyzed by multiple respondent demographics. In addition to the high-

level analysis and observations in the “Survey Highlights” section of this report, league tables with additional

details, including quartile analysis, can be found in the Appendix.

As always, your feedback will strengthen future versions of this survey. Please send any comments to Matthew

DeMatteis, ILPA Director, Research (+1-617-716-6500 or [email protected]).

mailto:[email protected]

Overview


Methodology

In a questionnaire distributed in August 2017, individual ILPA members were asked to report their compensation as of July 31, 2017, and to describe their organization’s key characteristics. By October 2017, 369 individuals submitted a response (up 6% from 348 responses in the prior year). In addition to their base salary, respondents provided the following details about their 2017 compensation:

• Annual Bonus - Incentive compensation that’s eligible to be paid on an annual basis, including any long-term bonus that’s eligible to be paid annually, but excluding bonus compensation based on the performance of a dedicated investment vehicle managed by the respondent’s organization on behalf of 3rd parties (please note: any long-term bonus amounts that are eligible to be paid at a frequency of greater than one year are not analyzed in this report)

• Max. Eligible Bonus - The maximum Annual Bonus that a respondent could have received for the year Respondents were also asked to describe themselves using the following characteristics:

• Position - As defined on pg. #6, respondents were asked to describe their job title

• Organization Type - Public pension, family office, sovereign wealth fund, etc.

• Geographic Location - Location of the respondent’s office, and not necessarily the location of their organization’s headquarters

• Size of Investment Staff - Number of private equity investment professionals at their organization

• Years of Financial Services / Legal Experience - Based on the year the respondent started in financial services, or in a legal capacity (for legal professionals only)

• Education and Professional Designations - Highest level of education completed, and a listing of all designations received (e.g., CFA, CAIA, etc.)

• Investment Professional Focus - The respondent’s primary responsibility within their organization (e.g., primary funds, co-investments., etc.)

• Private Equity AUM (PE AUM) - Defined as the NAV + Unfunded Commitments for all Private Equity within the respondent’s organization (buyout, growth, venture, distressed, & mezzanine)

• PE Fund AUM Outsourced to Gatekeepers - Percentage of PE AUM (fund investments only) that is currently outsourced by the respondent’s organization to 3rd party managers with discretionary authority

• Number of Active GPs - The number of active relationships managed by the respondent’s organization

• Time Devoted to PE - The percent of the respondent’s total time spent working on Private Equity investments (buyout, growth, venture, distressed, & mezzanine)

Overview


Respondents were asked to provide their compensation figures in local currency. To compare compensation across regions, all values were converted into USD using the following exchange rates:

Currency Exchange rate (to USD) as of July 31, 2017

AUD | Australian Dollar 0.7984

CAD | Canadian Dollar 0.8005

CHF | Swiss Franc 1.0346

CLP | Chilean Peso 0.001534

COP | Colombian Peso 0.000334

DKK | Danish Krone 0.1587

EUR | Euro 1.1808

GBP | British Pound Sterling 1.3186

ISK | Islandic Krona 0.0097

NOK | Norwegian Krone 0.1266

PEN | Peruvian Sol 0.30864

SEK | Swedish Krona 0.1237

SGD | Singapore Dollar 0.737266

USD | U.S. Dollar 1.00000

Source: x-rates.com

Please note that not all questions in the survey were mandatory. Therefore, some respondents elected not to answer all of the questions that were used to build the graphs in this report. As such, the cumulative respondent count will vary from graph to graph. Due to sample-size constraints, several respondent-demographics (e.g., Organization Type) were grouped into larger composites (e.g., Insurance, Corporate (Private) Pension, and Superannuation were grouped into a single composite). Results based on more granular demographics (e.g., Insurance-only) would not be statistically significant. For the avoidance of doubt, the Organization Type named “Other”, which collectively represents 17% of the sample set, includes the following: Bank (1%), Development Financial Institution (DFI) (6%), Family Office (6%), Investment Company (1%), and Sovereign Wealth Fund (3%). All values in this report are expressed in USD.

Overview


Position Definitions

Respondents were asked to define their role at their organization using the following definitions:

Chief Investment Officer - In charge of all investment divisions, including private equity. This position is

ultimately responsible for the overall success, planning, and growth of all divisions. This position is normally a

single incumbent position.

Head of Private Equity - Primarily responsible for managing the growth and deployment of human and financial

resources within the Private Equity division. Makes portfolio investment/divestment decisions and provides

significant ‘added value' to the overall portfolio. Participates with the top decision makers in strategy

development, but is usually the hands-on manager of the group.

Senior Portfolio Manager - An experienced investment partner who independently sources, evaluates,

structures, negotiates, closes, and monitors deals. Typically on the Board of Directors of portfolio companies.

Recommends divestment strategy and timing. Involved with managing other professionals. Typically has at least

10 years relevant experience.

Portfolio Manager - Under the guidance of more senior staff, this position sources, evaluates, structures,

negotiates, and closes deals. Monitors fund and portfolio company investments and recommends exit strategies.

Typically has an MBA or equivalent business experience, plus at least 5 years relevant experience.

Legal - Responsible for reviewing fund formation documents and supporting other legal issues related to funds,

co-investments, and direct investments managed by the PE team. Typically has a J.D., LL.M, S.J.D, or

equivalent.

Core Services Manager - Responsible for the reporting and compliance functions of the Private Equity division

(and possibly other divisions). Oversees cash transfers, internal record keeping, and financial statement analysis

for all Private Equity funds and investments. Typically has an MBA or equivalent business experience, plus at

least 5 years' relevant experience.

Senior Associate - Performs advanced-level analytical financial and operations activities related to proposed

deals (funds or directs) and to existing investments (funds or directs). Assists more senior staff in sourcing,

evaluation, structuring, negotiating, closing, monitoring, and exiting deals. Typically has an MBA or equivalent

business experience with 6-12 years of professional experience.

Associate - Performs advanced-level analytical financial and operations activities related to proposed deals and

to existing investments. Assists more senior staff in sourcing, evaluation, structuring, negotiating, closing,

monitoring, and exiting deals. Typically has an MBA or equivalent business experience with 3-6 years of

professional experience.

Analyst - Performs designated basic-level analytical financial and operations activities related to proposed deals

and to existing investments. Works under the supervision of a more senior professional. Has a college/university

degree or equivalent business experience.

Core Services Analyst - At the discretion of the Core Services Manager (if applicable), processes/records cash

transfers and relevant financial statement components for all private equity funds and investments.

College/university degree or equivalent business experience.


Profile of Respondents

Bank1%

Development Finance

Institution (DFI)6%

Endowment13%

Family Office

6%

Foundation1%

Insurance Company

11%

Investment Company

1%

Private (Corporate)

Pension12%

Public Pension

44%

Sovereign Wealth Fund3%

Super-annuation

2%

Organization Type

$1B - $2B13%

$250MM - $1B22%

$2B - $5B23%

Less than $250MM

8%

Over $5B34%

PE AUM* of Organization

*PE AUM = PE NAV + PE Unfunded

0%78%

1-25%12%

26-50%3%

51-75%2%

76-100%5%

% of Fund PE AUM Outsourced to Gatekeepers*

Asia0%

Australia / New

Zealand1%

Canada (excl.

Toronto Metro.)

11%

Canada (Toronto Metro.)

4%Europe

(excl. U.K. & Nordic)

3%

Europe (Nordic)

5%

Europe (U.K.)

5%

Latin America

1%

USA -Northeast

23%

USA -South / Midwest

33%

USA -West Coast14%

Geographic Representation*

*Location of respondent's office, and not necessarily the LP's headquarters

*Gatekeeper has discretionary authority on fund investment decisions



100 or more17%

50 or less49%

Between 50 and 100

34%

Number of Active GPs

2 182

16 4

2233

9

13

3

1 4

5 2

27

41

17

4

1

3 73

10

23

9

1

1

47

3

10

10

7

0

20

40

60

80

100

120

Asia Australia /New

Zealand

Canada(excl.

TorontoMetro.)

Canada(TorontoMetro.)

Europe(excl.U.K. &Nordic)

Europe(Nordic)

Europe(U.K.)

LatinAmerica

USA -Northeast

USA -South /Midwest

USA -WestCoast

Size of PE Investment Staff by Office Location

Over 10 Staff

6 to 10 Staff

3 to 5 Staff

1 or 2 Staff

1 or 2 Staff31%

3 to 5 Staff36%

6 to 10 Staff19%

Over 10 Staff14%

Size of PE Investment Staff



Analyst6%

Associate9%

CIO10%

Core Services Analyst

1%

Core Services Manager

6%

Head of PE

19%

Legal4%

Portfolio Manager

18%

Senior Associate

6%

Senior Portfolio Manager

21%

Position within Firm

Less than 5

12%

5 to 1026%

11 to 1522%

16 to 2527%

Over 2513%

Years of Financial Services (or Legal) Experience

0

5

10

15

20

25

30

35

CIO Head ofPE

SeniorPortfolioManager

PortfolioManager

Legal CoreServicesManager

SeniorAssociate

Associate Analyst CoreServicesAnalyst

(35) (64) (69) (70) (13) (18) (18) (31) (20) (4)

Ye

ars

Ex

pe

rie

nc

e

Years of Financial Services (or Legal) Experience by Position



Bachelor's + MBA Only

43%

Bachelor's + Other Degree*

26%

Bachelor's Only31%

Education

*Includes Bachelor’s Degree, plus any advanced degree; Excludes Bachelor’s + MBA Only

11

10 9

28

1

79

11

13

416

34 39

269

7

9

2

820 21

7

12

2 2

115

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

CIO Head ofPE

SeniorPortfolioManager

PortfolioManager


SeniorAssociate

Associate Analyst CoreServicesAnalyst

Education by Position

Bachelor's Only (103) Bachelor's + MBA Only (142) Bachelor's + Other Degree (88)

*Includes Bachelor’s Degree, plus any advanced degree; Excludes Bachelor’s + MBA Only

CFA and/or Other

Professional Designation

32%

CFA Only22%

No Professional Designations

46%

Professional Designations

*



1-25%11%

26-50%13%

51-75%12%

76-100%44%

Not Specified

20%

Time Devoted to PE (respondent's % of Time)

Mostly focused on Co-

Investment opportunities

6%

Mostly focused on Direct and Co-Sponsored opportunities

7% Mostly focused on Primary Fund opportunities

74%

Mostly focused on Secondary Fund

opportunities1%

N/A, my role is not focused on making investments

12%

Investment Focus

No75%

Yes25%

Did the Respondent Receive a Promotion in 2017?*

*Or a significant increase in responsibilities


Survey Highlights

Base Compensation - Annual Raise (Excluding Promotions)

274 respondents (75% of total) did not receive a promotion or a significant increase in responsibilities during the

prior 12 months. Among these professionals, the median respondent saw a 3.2% increase in their annual base

salary. This raise amount was remarkably consistent across organization types and positions. As shown in Figure

2, only the Assoc-

iate level reported

a median annual

raise that was

significantly differ-

ent than the other

positions or or-

ganization types

(7.6%). Also, only

public pensions re-

ported significant

variations from the

overall 1st and 3rd

quartiles. Over

25% of public pen-

sions did not re-

ceive a raise (3rd

quartile=0%). First quartile Public Pension respondents reported an annual raise of 5.4%, almost 200 bps lower

than their counterparts in the Insurance/ Private Pension/ Superannuation group (7.3%).

Across positions, over a quarter of the respondents from the CIO, Head of Private Equity, Legal, and Analyst

levels (each) did not receive a raise (3rd quartile=0%). Associates (12.5%) and Senior Associates (7.6%)

reported the highest top quartile raises.

-2%

0%

2%

4%

6%

8%

Endowments &Foundations

Insurance/ PrivatePension/

Superannuation

Public Pension Other Organizations

(37) (71) (109) (40)

Annual R

ais

e (

%)

Annual Raise Amounts by Organization Type (%)(excludes professionals that were promoted during the year)

Figure 1

-2%

0%

2%

4%

6%

8%

10%

12%

14%

CIO Head of PE SeniorPortfolioManager

PortfolioManager


SeniorAssociate

Associate Analyst

(32) (57) (62) (42) (11) (17) (15) (21) (13)

Annual R

ais

e (

%)

Annual Raise Amounts by Position (%)(excludes professionals that were promoted during the year)

Figure 2

Survey Highlights


Base Compensation - Annual Raise (Promotions Only)

91 respondents (25% of total) indicated that they received a promotion or significant increase in responsibilities

during the year.

Overall, there is a

significantly-wide

band of raise

amounts, with a

1,500+ basis

point gap be-

tween the 3rd

quartile raise

(7.5%) and the 1st

quartile (22.6%).

Interestingly,

Public Pension

respondents had

the highest me-

dian raise

(14.5%), while the Insurance/Private Pension/ Superannuation group had the lowest (7.4%).

Unlike respondents that were not promoted, there is significant variation between positions that were promoted

during the year. The median raises from the Senior Portfolio Manager (18.4%), Associate (15.4%), and Portfolio

Manager (15.4%) levels significantly outpaced the raises of Head of Private Equity (7.9%), Senior Associate

(8.1%), and Legal (8.6%).

0%

5%

10%

15%

20%

25%

30%

35%



Superannuation


(13) (13) (39) (17)

Annual

Rais

e (

%)

Annual Raise Amounts by Organization Type (%)(only includes professionals that were promoted during the year)

Figure 3

0%

5%

10%

15%

20%

25%

30%

CIO Head of PE SeniorPortfolioManager

PortfolioManager


SeniorAssociate

Associate Analyst

(6) (12) (16) (24) (4) (3) (6) (11) (9)

Annual

Rais

e (

%)

Annual Raise Amounts by Position (%)(only includes professionals that were promoted during the year)Figure 4

Survey Highlights


Annual Bonus Eligibility

223 respondents (65.5%) indicated that they were eligible for an Annual Bonus. However, across Organization

Types and Geographies, the responses vary widely.

39.9% of Public

Pension respon-

dents are eligible

for an Annual

Bonus, making it

the only Organi-

zation Type in

which a minority

of respondents

are eligible. Con-

versely, 85.7% of

respondents from

the Insurance/

Private Pension/

Superannuation

group are eligible.

When comparing

Geographies, Can-

adian respondents

(77.6%) have the

highest eligibility

rate. The three

U.S. geographic

regions, while sig-

nificantly lower

than Canada and

Europe (66.0%), all

have approximate-

ly the same rates,

ranging from 53-

59%.

25th Percentile

Median

75th Percentile

75th Percentile

All Groups

Median

All Groups

25th Percentile

All Groups

0%

20%

40%

60%

80%

100%


Insurance/ PrivatePension/ Superannuation


(50) (84) (148) (58)

Annual Bonus Eligibility by Organization Type

Not Eligible Eligible

Figure 5

0%

20%

40%

60%

80%

100%

Canada Europe USA - Northeast USA - South /Midwest

USA - WestCoast

Rest of World

(49) (47) (78) (115) (47) (5)

Annual Bonus Eligibility by Geography

Not Eligible Eligible

Figure 6

Survey Highlights


Annual Bonus Payout Rate

In this section, we observe the respondents’ Annual Bonus payout rate (defined as the actual bonus amount

received, divided

by the maximum

amount the res-

pondents were eli-

gible to receive).

Depending on the

perspective, this

rate can be inter-

preted as either a

measure of

achievement (i.e.,

higher rates sug-

gest that the re-

spondents “hit”

more of their

goals), or as a

degree of difficulty

(i.e., lower rates suggest the respondents had more challenging goals than their peers). For this analysis, we’ll

stay focused on the pure results and avoid making judgments about the respondents’ productivity.

Across all respondents, the median payout rate was 85%, and over a quarter of respondents received 100% of

their eligible amount (1st quartile=100%). Across geographies, the U.S. South/Midwest had the lowest median

rate (80.0%), while the U.S. West Coast had the highest (94.6%). U.S. South/Midwest was the only significant

sample whose top quartile did not receive 100% of the Annual Bonus (94.0%).

Comparing or-

ganization types,

Endowments &

Foundations had

the lowest 3rd

quartile (43.6%),

median (71.1%),

and 1st quartile

(93.4%) results.

More than half of

all organizations

from the “Other”

category (e.g.,

Sovereign Wealth

Funds, Family

Offices, etc.) re-

ceived their full

Annual Bonus (median=100%). Payout rates for the two remaining Organization Types were nearly identical.

50%

60%

70%

80%

90%

100%

110%

Canada Europe USA -Northeast

USA - South /Midwest

USA - WestCoast

Rest of World

(36) (31) (39) (63) (23) (4)

Annual B

onus P

ayout (%

of M

ax.

Elig

ible

)

Annual Bonus Payout by Geographyas a % of Respondent's Maximum Eligible Amount

Figure 7

40%

50%

60%

70%

80%

90%

100%

110%

Endowments& Foundations


Superannuation

Public Pension Other Organizatons

(30) (69) (56) (40)

Annual B

onus P

ayout (%

of M

ax.

Elig

ible

)

Annual Bonus Payout by Organization Typeas a % of Respondent's Maximum Eligible Amount

Figure 8

Survey Highlights


Annual Bonus Composition – Basis of Calculation

In this section, we examine four drivers of Annual Bonus calculations for 206 respondents:

• Private Equity (PE) Investment Performance

• Performance of Private Investments, excl. PE

• Total Investment Program Performance

• Qualitative & Miscellaneous Quantitative Metrics

67.5% of all respondents’ Annual Bonus calculations are based (at least in-part) on qualitative and miscellaneous

quantitative metrics (e.g., corporate earnings). “Other Organizations” have the highest share of this driver

(76.7%), versus

only 50% of En-

dowments and

Foundations. In-

terestingly, only

44.7% of all re-

spondents noted

that their Annual

Bonus was driven

by the perform-

ance of their Pri-

vate Equity port-

folio (defined as

(buyout, venture,

growth, distress-

ed, and mezza-

nine). Public Pen-

sions had the highest adoption of this metric (52.5%). Organizations seem to favor using the performance of

their total investment program (64.6% of all respondents).

However, given

that many ILPA

members are fo-

cused on other

private invest-

ments, besides

Private Equity

(e.g., real estate,

hedge), we nar-

rowed the sample

set to only include

respondents that

indicated that

more than 50% of

their investment

focus is on Pri-

vate Equity. Based on the group of more predominantly PE-focused respondents, the composition shifts

moderately. 54.6% of Annual Bonus calculations are based (partially) on PE investment performance (up 990

bps over the larger sample set), including 69.2% of Endowments and Foundation respondents.

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%




(32) (72) (59) (43)

% o

f R

espondents

*

Basis of Annual Bonus Calculation (all respondents)

PE Investment Performance Total Investment Program Performance

Non-PE Private Investment Performance Qualitative and Misc. Quantitative Metrics

*Responses from individuals with more than one basis (e.g., PE Inv. Perf. and Total Inv. Perf.) are counted separately. As such, the combined bars for any single org. type will likely not equal 100%; The number of individual respondents is in parenthesis

Figure 9

0%

20%

40%

60%

80%

100%




(13) (49) (42) (36)

% o

f R

espondents

*

Basis of Annual Bonus Calculation(respondent's primary focus is private equity)

PE Investment Performance Total Investment Program Performance

Non-PE Private Investment Performance Qualitative and Miscellaneous Quantitative Metrics

*Responses from individuals with more than one basis (e.g., PE Inv. Perf. and Total Inv. Perf.) are counted separately. As such, the combined bars for any single org. type will likely not equal 100%; Excludes responses from individuals that focus on PE less than 51% of the time; The number of individual respondents is in parenthesis

Figure 10

Survey Highlights


Annual Bonus Composition – Private Equity Benchmark

In this section, we

analyze how the

performance of

Private Equity (if

applicable to the

respondent’s An-

nual Bonus calcu-

lation) is bench-

marked (including

respondents

whose primary fo-

cus is not Private

Equity). Among

93 respondents

for whom PE per-

formance is incor-

porated into their

Annual Bonus calculation, 43.0% use a peer-based index to benchmark their PE portfolio. 41.9% use a public

index. Endowments and Foundations seem to favor a peer benchmark (85%), while Public Pensions typically

use a public index (63%).

Over the next two pages, we further examine the calculation methodology for these peer and public benchmarks.

0%

20%

40%

60%

80%

100%




(13) (33) (30) (15)

% o

f R

espondents

*

PE Performance Benchmark(all respondents)

Peer Index Public Index Absolute Other

*Responses from individuals with more than one basis (e.g., Peer and Public Index) are counted separately. As such, the combined bars for any single org. type will likely not equal 100%; The number of individual respondents is in parenthesis

Figure 11

Survey Highlights


Annual Bonus Composition – Peer Benchmark Calculation for PE Investments

After analyzing the components of a peer-index based calculation for Annual Bonuses, we note the following:

• Cambridge Associates (44%) and Burgiss (30%) are the most popular peer-index choices

• A majority of respondents utilize IRR (57%) to calculate their performance

• Almost half of respondents (44%) using a peer index will evaluate a three-year performance window for their

calculation; The second most frequently-used look-back period is one-year (26%)

• Median, regardless of whether the respondent used a time-weighted (56%) or IRR methodology (38%) is

the most frequently-used calculation metric

• 54% of respondents can qualify for their minimum level of Annual Bonus by outperforming their target

benchmark by 0 bps; To qualify for their maximum bonus, 29% must outperform by 300 bps

Burgiss(11)30%

Cambridge Associates

(16)44%

ILPA Private Markets

Benchmark(1)3%

Pevara(1)3%

State Street

(6)17%

Other(1)3%

Peer Index Providers*

*Responses from individuals using more than one index are counted separately; The number of respondents is in parenthesis

IRR(16)57%

Other(1)4%

PME(2)7%

Time-weighted

(9)32%

Calculation Methodology Used for Peer Indices*

*Responses from individuals using more than one index are counted separately; The number of respondents is in parenthesis

25%

22%

38%

56%

13% 19% 6%

22%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

IRR (16)

Time-weighted (9)

Peer Index Calculation Metric Used for:

Mean Median Top Quartile Other Undisclosed

1 Year(7)

26%

3 Years(12)44%

4 Years(1)4%

5 Years(5)

18%

10 Years(1)4%

11 Years(1)4%

Peer Index Horizon Period*(performance look-back)

*Responses from individuals using more than one index are counted separately; The number of responses is in parenthesis

Figure 12

15 7 5 1

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Minimum BonusThreshold (28)

Alpha over Peer Index Required to Earn:

0 bps 1-99 bps 100-499 bps 500+ bps

3 4 4 8 4 3 2

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Maximum BonusThreshold (28)

Alpha over Peer Index Required to Earn:

1-99 bps 100-199 bps 200-299 bps 300 bps 400 bps 500-750 bps No Limit

Survey Highlights


Annual Bonus Composition – Public Benchmark Calculation for PE Investments

After analyzing the components of a public-index based calculation for Annual Bonuses, we note the following:

• S&P 500 (31%) is the most-used public index for Annual Bonus calculations, followed by MSCI World (20%)

• Unlike the peer-index group, a majority of public indices (59%) use a time-weighted methodology

• 38% will review a performance window of 4-years, while 34% evaluate a 5-year look-back period

• 29% of all respondents can qualify for their minimum level of Annual Bonus by outperforming their target

benchmark by zero bps, while another 29% indicated they must outperform by 300 bps to earn the minimum

• To qualify for their maximum bonus, 26% must outperform by 300 bps, while 22% must outperform by 600-

800 bps

FTSE USTMI/ AWEXUS

(4)10%

MSCI ACWI

(5)13%

Other MSCI

(4)10%

MSCI World

(8)20%

Russell (1000 / 2000 Growth /

3000)(3)8%

S&P 500(12)31%

Other S&P(1)3%

Other(2)5%

Public Indices Used*


IRR(8)

28%

Other(1)3%

PME(3)

10%

Time Weighted

(17)59%

Calculation Methodology Used for Public Indices*


1 Year(4)

14%

3 Years(4)

14%

4 Years(11)38%

5 Years(10)34%

Public Index Horizon Period*(performance look-back)


Figure 13

8

2

2

6

2

3

5

1

1

8

3

1

1

1

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Min. Threshold - All Public Indices (28)

Min. Threshold S&P 500 (9)

Min. Threshold MSCI World (7)

Alpha over Public Index Required to Earn:

0 bps 100-199 bps 200-299 bps 300 bps 350 bps

1

1

4

1

1

6

1

3

5

2

2

2

5

2

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Max. Threshold - All Public Indices (23)

Max. Threshold S&P 500 (7)

Max. Threshold MSCI World (6)

Alpha over Public Index Required to Earn:

0 bps 100-200 bps 300 bps 301-499 bps 500 bps 600-800 bps

Survey Highlights


Annual Bonus Composition – Qualitative Metrics

In this final section, we summarize the most prominent qualitative metrics used to determine respondents’ Annual

Bonus amounts. Among 128 non-legal professionals, 63% have team-based objectives and goals in their Annual

Bonus calculation, while 40% have incorporated corporate/firmwide goals. Team-based objectives are utilized

consistently across organization types. But corporate/firmwide goals are more prominent in Insurance/Private

Pension/Superannuation firms (49%) and Public Pensions (57%), while only 13% are used by Endowments and

Foundations.

Among legal professionals, the most common metric is “Efficient provision of services to internal clients” (92%).

92%

77%

62%

54%

38%

38%

31%

31%

8%

0% 20% 40% 60% 80% 100%

Efficient provision of services to internal clients

Ensure all legal internal policies and procedure are up to date andsufficient for the entities protection

Team Objectives & Goals

Maintain sufficient external advisors to meet all needs in a timelyand costly manner

Efficient (cost and timing) provision of external legal services

Corporate Objectives & Goals

Anticipate and prepare efficient (tax and liability) investmentstructures for future geographical regions

Ensure appropriate tax and efficiency structuring of all investmentsboth on an individual and entity wide basis

Maintaining legal records of contracts and investments

Qualitiative and Misc. Quantitative Metrics Used to Determine Annual Bonus (Legal Professionals Only n=13)

Figure 15

0%

20%

40%

60%

80%

Endowments & Foundations(16)

Insurance/ Private Pension/Superannuation

(47)

Public Pension(30)

Other Organizations(34)

% o

f R

espondents

*

Qualitative Metrics Used to Determine Annual Bonus (ex. Legal Professionals)

Number of Transactions Closed Corporate/Firmwide Objectives & Goals Team Objectives & Goals

Perceived Contribution to the Organization Completion of Special Projects

*Responses from individuals with more than one qualitative metric (e.g., Number of Transactions Closed and Corp./Firmwide Objectives) are counted separately. As such, the combined bars for any single org. type will likely not equal 100%; The number of individual respondents is in parenthesis

Figure 14


Appendix – League Tables

Chief Investment Officer

Actual (Paid) Max. Eligible

38 38 14 14

$246,838 $259,593 $143,480 $187,830

25th $168,800 $175,875 $55,774 $78,750

50th $232,580 $239,675 $95,323 $107,636

75th $288,250 $345,047 $174,250 $287,400

19 19 4 4

$220,521 $231,693 $88,503 $180,100

25th $169,200 $176,750 $43,274 $73,750

50th $173,000 $185,700 $70,005 $139,500

75th $268,000 $268,795 $115,234 $245,850

5 5 3 3

$285,388 $310,921 $129,077 $205,744

25th $236,160 $236,160 $88,616 $98,616

50th $280,000 $360,000 $130,000 $150,000

75th $360,000 $365,000 $170,000 $285,000

9 9 5 5

$263,549 $275,498 $218,495 $223,398

25th $155,234 $157,209 $89,000 $93,500

50th $280,000 $288,000 $115,272 $115,272

75th $330,000 $370,000 $300,188 $320,200

4 4 2 2

$275,519 $283,271 $87,500 $87,500

25th $181,019 $183,021 $81,250 $81,250

50th $224,000 $228,000 $87,500 $87,500

75th $318,500 $328,250 $93,750 $93,750

23 23 9 9

$274,874 $292,566 $183,309 $216,104

25th $172,000 $185,700 $75,000 $90,000

50th $280,000 $286,000 $130,000 $150,000

75th $363,500 $374,000 $210,000 $320,200

7 7 2 2

$208,141 $213,220 $57,823 $220,700

25th $146,239 $152,041 $41,411 $122,850

50th $173,000 $173,000 $57,823 $220,700

75th $249,550 $248,295 $74,234 $318,550

5 5 1 1

$187,944 $191,639 $100,000 $100,000

25th $155,234 $157,209 $100,000 $100,000

50th $170,000 $178,500 $100,000 $100,000

75th $200,000 $200,000 $100,000 $100,000

24 24 10 10

$227,361 $241,235 $154,971 $178,422

25th $160,233 $173,000 $54,174 $54,174

50th $173,000 $185,850 $94,500 $96,750

75th $257,500 $263,739 $186,318 $268,968

5 5 3 3

$329,469 $340,680 $136,548 $251,800

25th $280,000 $288,000 $110,323 $169,500

50th $360,000 $365,000 $130,000 $189,000

75th $367,000 $378,000 $159,500 $302,700

7 7 1 1

$264,621 $277,403 $49,365 $90,000

25th $204,500 $210,000 $49,365 $90,000

50th $286,000 $286,000 $49,365 $90,000

75th $308,000 $328,000 $49,365 $90,000

2017 Annual Bonus AmountCompensation:

2017 Base

Salary

Responses

Average

Percentiles

Mature program (>=12 years)

Responses

Average

Percentiles

Seasoned program (5-11 years)

Responses

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Average

Percentiles

100 or more

Average

Percentiles

New program (0-4 years)

Responses

Totals/Questions CIO

Responses

Average

Percentiles

Average

Percentiles

Insurance/ Private Pension/

Superannuation

Responses

Average

Percentiles

Endowments & Foundations

Responses

Average

Percentiles

Investment Program

Age

2016 Base

Salary

Organization Type

Public Pension

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

CONFIDENTIAL - For use by members of the Institutional Limited Partners Association only. 22




2017 Base

Salary


Responses

2016 Base

Salary

14 14 3 3

$243,642 $263,801 $121,667 $198,333

25th $170,250 $185,700 $77,500 $87,500

50th $265,000 $265,500 $130,000 $150,000

75th $286,000 $342,000 $170,000 $285,000

6 6 4 4

$286,641 $294,165 $78,753 $170,350

25th $185,000 $185,000 $68,591 $86,250

50th $224,550 $225,795 $82,823 $95,000

75th $356,535 $375,198 $92,984 $179,100

7 7 3 3

$286,714 $295,071 $279,333 $280,833

25th $201,000 $209,250 $139,000 $141,250

50th $248,000 $256,000 $189,000 $189,000

75th $368,500 $384,000 $374,500 $374,500

7 7 3 3

$166,583 $173,719 $147,826 $154,497

25th $129,281 $133,283 $71,645 $71,645

50th $143,105 $150,254 $115,272 $115,272

75th $192,088 $198,279 $207,730 $217,736

3 3 1 1

$262,313 $276,535 $47,232 $47,232

25th $195,680 $200,530 $47,232 $47,232

50th $236,160 $236,160 $47,232 $47,232

75th $315,870 $332,353 $47,232 $47,232

0 0 0 0

N/A N/A N/A N/A

25th N/A N/A N/A N/A



28 28 9 9

$236,907 $249,606 $178,609 $206,888

25th $164,329 $172,750 $89,000 $93,500

50th $186,500 $193,000 $115,272 $115,272

75th $281,631 $315,141 $210,000 $320,200

4 4 4 4

$264,627 $269,390 $53,061 $144,658

25th $222,120 $222,120 $41,674 $41,674

50th $243,080 $240,580 $48,299 $68,616

75th $285,587 $287,850 $59,685 $171,600

1 1 0 0

$248,000 $256,000 N/A N/A

25th $248,000 $256,000 N/A N/A

50th $248,000 $256,000 N/A N/A

75th $248,000 $256,000 N/A N/A

1 1 1 1

$367,000 $378,000 $189,000 $189,000

25th $367,000 $378,000 $189,000 $189,000

50th $367,000 $378,000 $189,000 $189,000

75th $367,000 $378,000 $189,000 $189,000

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

Over 10 Staff

Responses

Average

Percentiles

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Percentiles

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Percentiles

USA - South / Midwest

Responses

Canada

Responses

Average

ROW

Responses

Average

Percentiles

Average

Percentiles

Europe

Responses

Average

Percentiles

Percentiles

USA - West Coast

Responses

Average

Employee Office

Location

USA - Northeast

Responses

Average





2017 Base

Salary


Responses

2016 Base

Salary

0 0 0 0

N/A N/A N/A N/A




4 4 3 3

$172,876 $175,563 $59,128 $72,673

25th $162,076 $166,563 $38,691 $59,009

50th $174,200 $176,000 $49,365 $90,000

75th $185,000 $185,000 $74,683 $95,000

3 3 1 1

$221,195 $248,691 $210,000 $420,000

25th $191,792 $193,037 $210,000 $420,000

50th $249,100 $251,590 $210,000 $420,000

75th $264,550 $305,795 $210,000 $420,000

11 11 2 2

$237,298 $245,436 $337,636 $337,636

25th $164,100 $168,950 $226,454 $226,454

50th $229,000 $240,000 $337,636 $337,636

75th $286,000 $286,000 $448,818 $448,818

17 17 8 8

$284,623 $297,678 $118,258 $164,542

25th $171,000 $185,700 $68,058 $68,058

50th $280,000 $288,000 $89,823 $121,750

75th $370,000 $390,000 $144,750 $221,800

11 11 6 6

$224,094 $239,527 $91,648 $133,420

25th $164,117 $165,105 $47,765 $57,924

50th $200,000 $200,000 $74,683 $95,000

75th $258,080 $299,675 $111,454 $111,454

16 16 6 6

$259,521 $268,167 $199,139 $260,850

25th $170,750 $184,275 $89,411 $107,625

50th $265,000 $265,500 $110,323 $235,100

75th $304,500 $316,391 $257,641 $392,350

8 8 2 2

$273,322 $285,397 $132,000 $132,000

25th $169,600 $176,875 $103,500 $103,500

50th $248,550 $253,795 $132,000 $132,000

75th $339,250 $372,000 $160,500 $160,500

10 10 2 2

$243,452 $252,627 $77,500 $87,500

25th $181,104 $199,275 $51,250 $56,250

50th $249,550 $248,295 $77,500 $87,500

75th $286,000 $286,000 $103,750 $118,750

9 9 6 6

$284,510 $302,846 $218,366 $317,767

25th $200,000 $200,000 $92,984 $155,050

50th $280,000 $300,188 $155,000 $368,300

75th $392,347 $416,400 $277,641 $419,100

16 16 6 6

$238,053 $247,297 $90,587 $91,337

25th $169,600 $172,750 $54,174 $54,174

50th $173,000 $183,000 $82,000 $84,250

75th $301,750 $310,500 $108,704 $109,829

Percentiles

Responses

Average

Percentiles

Average

Percentiles

Responses

Average

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles

CFA and/or Other Professional

Designation

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

Bachelor's + Other Degree

16 to 25

Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Responses

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Average

Percentiles

11 to 15

Responses





2017 Base

Salary


Responses

2016 Base

Salary

10 10 4 4

$183,003 $189,166 $83,072 $84,197

25th $146,129 $151,993 $73,754 $77,129

50th $162,617 $168,950 $94,500 $96,750

75th $193,250 $195,000 $103,818 $103,818

11 11 4 4

$249,282 $261,524 $122,708 $209,150

25th $169,200 $174,000 $62,500 $62,500

50th $249,100 $245,000 $82,823 $197,600

75th $280,088 $294,094 $143,031 $344,250

6 6 3 3

$327,097 $349,924 $300,000 $376,667

25th $256,000 $282,000 $170,000 $285,000

50th $320,000 $362,500 $210,000 $420,000

75th $386,685 $412,659 $385,000 $490,000

6 6 1 1

$225,033 $241,593 $47,232 $47,232

25th $166,604 $185,775 $47,232 $47,232

50th $203,580 $211,080 $47,232 $47,232

75th $273,540 $273,540 $47,232 $47,232

4 4 2 2

$301,488 $312,955 $119,183 $139,500

25th $259,500 $259,500 $84,274 $114,750

50th $326,500 $332,000 $119,183 $139,500

75th $368,488 $385,455 $154,091 $164,250

25 25 12 12

$255,376 $267,602 $149,560 $201,302

25th $170,000 $173,000 $68,591 $86,250

50th $236,160 $239,350 $95,323 $107,636

75th $330,000 $365,000 $150,000 $344,250

5 5 2 2

$223,008 $236,080 $107,000 $107,000

25th $165,138 $185,700 $66,000 $66,000

50th $171,000 $186,000 $107,000 $107,000

75th $250,000 $245,000 $148,000 $148,000

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 0 0

$201,869 $207,521 N/A N/A

25th $157,319 $162,021 N/A N/A

50th $198,700 $206,000 N/A N/A

75th $243,250 $251,500 N/A N/A

51-75%

Responses

Average

Fund Gatekeepers

(% of Organization's

Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Percentiles

76-100%

Responses

Average

Percentiles

Responses

Average

Percentiles

26-50%

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

Average

Percentiles

$1B - $2B

Over $5B

Responses

Average

Percentiles

Responses

Average

Percentiles

$2B - $5B

Responses

Average

Percentiles





2017 Base

Salary


Responses

2016 Base

Salary

19 19 6 6

$252,712 $262,859 $207,578 $275,312

25th $171,500 $179,250 $96,802 $123,954

50th $248,000 $251,590 $122,636 $235,100

75th $308,000 $332,594 $257,641 $392,350

11 11 6 6

$252,453 $264,386 $107,705 $142,705

25th $169,069 $179,350 $54,174 $54,174

50th $236,160 $236,160 $87,500 $87,500

75th $283,000 $323,000 $166,750 $166,750

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




8 8 2 2

$225,169 $245,247 $58,509 $60,759

25th $157,201 $174,250 $43,263 $44,388

50th $169,700 $185,850 $58,509 $60,759

75th $309,250 $318,900 $73,754 $77,129

1 1 0 0

$124,078 $132,083 N/A N/A

25th $124,078 $132,083 N/A N/A

50th $124,078 $132,083 N/A N/A

75th $124,078 $132,083 N/A N/A

0 0 0 0

N/A N/A N/A N/A




24 24 10 10

$247,827 $257,992 $172,606 $201,670

25th $173,000 $177,125 $62,024 $92,500

50th $242,080 $242,500 $122,636 $132,636

75th $286,000 $315,141 $204,750 $287,400

1 1 1 1

$392,347 $416,400 $90,645 $416,400

25th $392,347 $416,400 $90,645 $416,400

50th $392,347 $416,400 $90,645 $416,400

75th $392,347 $416,400 $90,645 $416,400

5 5 2 2

$245,091 $261,215 $58,509 $60,759

25th $168,400 $172,000 $43,263 $44,388

50th $171,000 $186,000 $58,509 $60,759

75th $370,000 $390,000 $73,754 $77,129

Not Specified

Responses

Average

Percentiles

Percentiles

Respondent's

Investment Focus



Responses

Average

Percentiles

Mostly focused on Direct & Co-

Sponsored opportunities

Mostly focused on Secondary

Fund opportunities

Responses

Average

Percentiles

Mostly focused on Primary Fund

opportunities

Responses

Average

Percentiles

Responses

Average

Percentiles

N/A, my role is not focused on

making investments

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

76-100%

Responses

Average


Head of PE


69 69 45 45

$214,224 $228,835 $161,502 $364,312

25th $164,580 $170,000 $61,410 $90,000

50th $210,000 $220,000 $110,500 $150,000

75th $252,000 $272,000 $182,500 $250,000

25 25 10 10

$197,406 $206,336 $104,759 $149,623

25th $155,000 $165,704 $52,470 $69,088

50th $200,000 $218,000 $71,184 $126,000

75th $250,000 $250,000 $163,750 $215,053

21 21 19 19

$218,081 $233,751 $196,849 $239,349

25th $185,000 $203,000 $77,000 $103,030

50th $220,000 $230,000 $152,000 $170,000

75th $241,963 $263,720 $258,488 $355,878

8 8 6 6

$253,689 $288,597 $240,419 $1,515,714

25th $190,507 $199,250 $64,634 $102,214

50th $231,000 $240,139 $108,000 $173,500

75th $325,000 $368,750 $154,000 $3,125,000

11 11 10 9

$237,048 $250,685 $119,889 $123,801

25th $181,000 $187,066 $72,514 $66,000

50th $219,000 $280,000 $125,500 $128,080

75th $285,000 $298,500 $167,675 $185,000

41 41 30 29

$228,075 $243,349 $159,755 $448,217

25th $174,570 $185,000 $67,000 $90,000

50th $219,560 $230,000 $120,500 $155,000

75th $271,522 $283,200 $189,740 $250,000

18 18 11 11

$194,766 $211,717 $205,722 $253,345

25th $133,750 $143,250 $71,184 $96,000

50th $215,933 $219,202 $136,000 $185,000

75th $239,993 $256,997 $262,070 $302,314

5 5 4 4

$189,002 $199,056 $93,378 $116,821

25th $165,000 $167,000 $57,634 $80,464

50th $199,010 $210,278 $84,756 $118,643

75th $206,000 $218,000 $120,500 $155,000

32 32 21 20

$195,836 $209,354 $123,677 $153,490

25th $157,500 $161,825 $48,030 $56,009

50th $198,005 $210,139 $80,000 $99,030

75th $243,113 $265,290 $152,000 $188,750

18 18 16 16

$245,056 $263,382 $204,835 $707,077

25th $202,594 $210,533 $78,117 $126,060

50th $220,000 $222,500 $140,850 $183,566

75th $277,991 $295,134 $221,599 $352,509

9 9 5 5

$234,451 $250,946 $199,800 $203,200

25th $175,062 $230,000 $158,000 $165,000

50th $250,000 $250,000 $175,000 $175,000

75th $280,000 $285,000 $175,000 $185,000

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles


Compensation:2016 Base

Salary

2017 Base

Salary

2017 Annual Bonus Amount

Totals/Questions Head of PE

Responses

Average

Percentiles


Head of PE



Salary

2017 Base

Salary



Responses 13 13 9 8

$224,412 $257,485 $196,111 $1,155,875

25th $170,000 $185,000 $80,000 $68,500

50th $185,000 $220,011 $140,000 $175,000

75th $252,000 $280,000 $160,000 $1,175,000

31 31 19 19

$207,592 $219,078 $149,898 $190,011

25th $162,500 $168,500 $69,950 $96,000

50th $210,000 $220,000 $110,000 $150,000

75th $242,500 $255,750 $190,500 $239,202

6 6 5 5

$245,415 $254,033 $102,920 $110,669

25th $253,122 $258,300 $50,000 $78,746

50th $268,744 $284,100 $111,000 $111,000

75th $278,750 $286,500 $175,000 $175,000

5 5 4 4

$178,992 $184,435 $135,885 $177,911

25th $160,100 $160,100 $81,051 $120,075

50th $162,502 $165,704 $141,689 $170,106

75th $200,125 $212,133 $196,523 $227,942

8 8 6 6

$246,579 $259,167 $256,390 $301,468

25th $227,763 $240,470 $71,018 $109,106

50th $250,322 $263,291 $158,256 $261,855

75th $271,676 $279,421 $314,599 $359,246

2 2 2 2

$229,540 $237,524 $109,780 $160,678

25th $224,550 $228,542 $84,830 $113,273

50th $229,540 $237,524 $109,780 $160,678

75th $234,530 $246,506 $134,730 $208,083

23 23 15 14

$198,647 $212,630 $81,181 $99,953

25th $155,000 $157,500 $55,756 $65,901

50th $200,000 $218,000 $74,000 $90,000

75th $229,540 $259,175 $110,500 $110,750

22 22 17 17

$219,326 $232,490 $144,573 $190,744

25th $172,643 $177,178 $70,000 $120,000

50th $228,433 $240,000 $145,700 $175,000

75th $263,622 $284,183 $185,000 $212,133

11 11 8 8

$254,735 $277,106 $249,254 $1,220,837

25th $205,063 $211,066 $120,514 $142,270

50th $234,000 $241,000 $148,000 $256,308

75th $275,000 $278,750 $234,732 $1,306,250

2 2 2 2

$248,150 $253,150 $214,000 $214,000

25th $204,725 $207,225 $108,500 $108,500

50th $248,150 $253,150 $214,000 $214,000

75th $291,575 $299,075 $319,500 $319,500

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Head of PE



Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




5 5 3 3

$187,882 $202,284 $153,551 $165,475

25th $155,000 $155,000 $55,756 $73,643

50th $165,000 $167,000 $59,513 $87,285

75th $199,010 $210,278 $204,326 $218,213

11 11 7 7

$201,886 $214,344 $131,411 $172,981

25th $180,500 $191,000 $72,000 $100,000

50th $219,560 $220,000 $80,000 $120,000

75th $236,000 $247,500 $165,000 $225,000

33 33 24 24

$241,996 $258,491 $198,302 $541,580

25th $197,000 $212,133 $78,117 $108,750

50th $239,520 $250,534 $148,850 $172,285

75th $280,000 $287,000 $183,994 $270,816

15 15 11 10

$188,721 $200,938 $117,213 $154,716

25th $161,650 $161,650 $35,009 $48,028

50th $185,000 $185,000 $110,000 $112,873

75th $212,500 $248,931 $162,500 $176,250

10 10 5 5

$230,408 $234,613 $81,044 $107,055

25th $173,000 $176,000 $52,000 $60,000

50th $234,780 $238,530 $59,880 $65,868

75th $281,630 $286,216 $80,000 $90,000

34 34 28 28

$221,176 $239,329 $190,076 $490,771

25th $172,000 $175,250 $71,850 $106,515

50th $217,000 $229,202 $133,000 $152,500

75th $259,366 $280,400 $191,494 $250,503

20 20 12 11

$207,639 $221,508 $141,814 $179,589

25th $161,825 $168,000 $67,303 $94,643

50th $203,000 $219,000 $122,768 $175,000

75th $250,500 $271,931 $193,750 $252,744

26 26 20 20

$243,874 $260,772 $198,059 $601,496

25th $202,500 $220,000 $66,850 $102,187

50th $243,674 $256,431 $110,500 $169,785

75th $278,750 $286,500 $175,000 $265,053

20 20 15 15

$197,535 $205,315 $145,539 $173,642

25th $157,500 $157,575 $64,756 $93,030

50th $191,000 $194,000 $145,700 $155,000

75th $240,603 $248,750 $211,554 $231,066

18 18 10 9

$204,744 $223,728 $128,484 $179,756

25th $175,000 $177,750 $66,975 $66,000

50th $203,063 $218,780 $83,029 $102,000

75th $238,390 $256,997 $154,760 $255,488

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Head of PE



Salary

2017 Base

Salary



Responses 1 1 1 1

$219,000 $230,000 $66,000 $66,000

25th $219,000 $230,000 $66,000 $66,000

50th $219,000 $230,000 $66,000 $66,000

75th $219,000 $230,000 $66,000 $66,000

18 18 12 11

$204,937 $219,385 $127,185 $161,212

25th $160,025 $161,325 $69,228 $103,530

50th $199,505 $211,205 $125,500 $155,000

75th $270,920 $285,250 $161,830 $220,268

9 9 6 6

$200,836 $210,318 $57,003 $89,840

25th $197,000 $203,000 $36,000 $48,028

50th $206,000 $218,000 $64,000 $75,000

75th $235,000 $254,000 $80,000 $105,000

15 15 13 13

$218,273 $226,495 $125,923 $148,225

25th $179,785 $179,785 $69,900 $90,000

50th $215,000 $219,560 $110,000 $150,000

75th $244,760 $252,744 $159,680 $175,000

20 20 12 12

$233,613 $255,805 $288,156 $945,588

25th $172,000 $189,250 $136,000 $153,750

50th $228,674 $240,267 $192,988 $332,970

75th $268,000 $283,650 $316,785 $479,040

49 49 36 35

$216,574 $233,656 $143,240 $392,201

25th $165,000 $170,000 $57,634 $72,373

50th $210,000 $220,000 $98,797 $150,000

75th $252,000 $280,000 $159,760 $220,268

5 5 3 3

$284,536 $294,745 $276,333 $308,933

25th $264,000 $277,725 $202,000 $250,900

50th $280,000 $285,000 $229,000 $316,800

75th $285,000 $294,000 $327,000 $370,900

1 1 0 0

$98,000 $98,000 N/A N/A

25th $98,000 $98,000 N/A N/A

50th $98,000 $98,000 N/A N/A

75th $98,000 $98,000 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 1 1

$197,000 $203,000 $80,000 $90,000

25th $197,000 $203,000 $80,000 $90,000

50th $197,000 $203,000 $80,000 $90,000

75th $197,000 $203,000 $80,000 $90,000

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Head of PE



Salary

2017 Base

Salary



Responses 2 2 2 2

$197,285 $209,643 $49,015 $87,403

25th $164,684 $172,864 $48,523 $83,075

50th $197,285 $209,643 $49,015 $87,403

75th $229,887 $246,421 $49,508 $91,732

11 11 6 6

$197,850 $210,870 $104,500 $151,810

25th $163,751 $166,352 $71,000 $95,000

50th $210,000 $220,000 $77,000 $115,000

75th $239,835 $251,822 $139,760 $221,616

16 16 10 10

$234,220 $240,898 $93,632 $116,964

25th $190,750 $195,250 $44,000 $55,528

50th $242,500 $252,000 $95,000 $148,500

75th $278,641 $277,500 $143,275 $166,250

33 33 25 24

$218,073 $237,870 $210,031 $552,477

25th $170,000 $172,000 $69,900 $98,321

50th $200,125 $219,560 $140,000 $179,785

75th $264,000 $284,510 $229,000 $324,885

7 7 2 3

$180,945 $192,386 $172,325 $293,104

25th $158,338 $168,610 $105,488 $252,156

50th $171,216 $177,240 $210,976 $362,615

75th $197,531 $220,006 $258,488 $368,808

1 1 1 1

$239,520 $255,488 $159,680 $255,488

25th $239,520 $255,488 $159,680 $255,488

50th $239,520 $255,488 $159,680 $255,488

75th $239,520 $255,488 $159,680 $255,488

0 0 0 0

N/A N/A N/A N/A




55 55 37 36

$212,455 $227,245 $136,343 $370,710

25th $162,251 $166,352 $59,513 $75,560

50th $200,125 $218,000 $105,536 $137,540

75th $257,244 $276,000 $160,000 $185,000

1 1 1 1

$221,865 $228,404 $72,467 $228,404

25th $221,865 $228,404 $72,467 $228,404

50th $221,865 $228,404 $72,467 $228,404

75th $221,865 $228,404 $72,467 $228,404

2 2 2 2

$230,982 $235,267 $258,488 $368,808

25th $225,491 $227,634 $234,732 $365,711

50th $230,982 $235,267 $258,488 $368,808

75th $236,472 $242,901 $282,244 $371,904

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles




78 79 50 49

$177,061 $190,299 $142,631 $176,541

25th $136,332 $144,445 $42,048 $60,000

50th $166,252 $177,120 $75,927 $126,960

75th $200,000 $211,475 $197,029 $250,000

32 33 21 21

$162,067 $171,844 $106,274 $133,411

25th $127,875 $141,696 $21,254 $44,828

50th $152,548 $157,046 $50,000 $107,000

75th $182,250 $200,000 $120,075 $186,116

19 19 16 16

$177,843 $187,866 $176,357 $210,842

25th $139,116 $144,562 $63,435 $123,270

50th $163,460 $171,418 $132,122 $167,676

75th $216,090 $234,025 $253,920 $261,300

8 8 4 4

$161,184 $170,539 $134,330 $209,493

25th $145,000 $161,500 $69,330 $86,230

50th $175,000 $185,000 $110,000 $182,987

75th $180,487 $188,054 $175,000 $306,250

10 10 7 6

$185,207 $215,316 $187,966 $201,577

25th $150,376 $154,126 $25,876 $35,708

50th $170,603 $186,473 $60,000 $61,305

75th $220,330 $230,181 $164,585 $138,825

44 44 33 32

$174,814 $190,160 $151,065 $179,122

25th $137,768 $149,333 $50,000 $57,500

50th $174,785 $183,753 $100,000 $132,500

75th $201,741 $202,796 $250,000 $227,500

19 20 11 11

$154,031 $160,413 $119,506 $159,255

25th $127,750 $129,920 $31,127 $66,000

50th $149,133 $151,048 $63,480 $119,307

75th $156,500 $167,350 $142,764 $170,959

4 4 2 2

$189,075 $194,622 $209,914 $209,914

25th $109,333 $119,701 $127,371 $127,371

50th $138,887 $143,707 $209,914 $209,914

75th $218,628 $218,628 $292,457 $292,457

35 35 23 22

$163,823 $179,803 $171,991 $186,704

25th $125,519 $130,314 $42,914 $48,458

50th $152,095 $152,095 $70,000 $97,153

75th $182,500 $200,197 $219,059 $196,623

20 21 16 16

$183,094 $191,161 $137,798 $179,687

25th $149,250 $157,046 $36,154 $95,250

50th $165,656 $177,120 $121,540 $159,166

75th $207,722 $212,950 $250,000 $261,300

8 8 4 4

$170,000 $181,225 $60,000 $122,500

25th $145,750 $153,600 $47,500 $87,500

50th $181,000 $187,000 $50,000 $120,000

75th $202,500 $206,250 $62,500 $155,000

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Senior Portfolio Manager

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 17 17 10 10

$193,527 $213,938 $251,550 $277,250

25th $121,000 $121,000 $62,875 $63,375

50th $180,000 $185,000 $150,000 $210,000

75th $250,000 $250,000 $343,750 $343,750

17 17 12 11

$169,468 $182,721 $155,333 $198,636

25th $153,000 $160,000 $40,000 $79,000

50th $160,000 $179,460 $137,500 $167,000

75th $185,000 $200,000 $250,000 $312,500

7 7 5 5

$185,867 $203,047 $48,224 $82,000

25th $179,500 $187,000 $41,121 $50,000

50th $182,000 $200,000 $50,000 $75,000

75th $196,500 $212,500 $50,000 $100,000

13 13 10 10

$141,313 $147,248 $111,148 $132,257

25th $120,075 $129,681 $50,451 $56,364

50th $136,085 $149,133 $88,290 $119,691

75th $166,504 $166,504 $150,935 $179,612

15 16 11 11

$159,843 $167,438 $106,768 $139,315

25th $128,424 $139,996 $26,497 $39,675

50th $158,232 $158,826 $63,480 $126,960

75th $170,603 $184,489 $128,662 $167,676

0 0 0 0

N/A N/A N/A N/A




13 13 6 6

$144,479 $151,900 $103,800 $109,709

25th $121,000 $121,000 $19,881 $26,811

50th $136,085 $140,088 $32,420 $46,219

75th $163,460 $175,000 $104,957 $105,653

29 29 23 22

$167,583 $185,825 $163,404 $197,081

25th $129,681 $149,133 $52,500 $78,993

50th $157,000 $171,418 $72,684 $119,691

75th $200,000 $219,000 $194,059 $200,094

15 15 7 7

$163,190 $173,205 $74,829 $92,515

25th $141,000 $148,666 $24,136 $24,136

50th $166,000 $173,000 $41,121 $45,000

75th $181,000 $198,862 $109,207 $159,166

8 9 8 8

$238,083 $239,936 $200,867 $253,602

25th $175,000 $185,000 $117,814 $202,500

50th $230,000 $230,000 $250,000 $285,100

75th $277,332 $265,680 $268,010 $356,250

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada





Salary

2017 Base

Salary



Responses 1 1 1 1

$157,000 $219,000 $37,000 $44,000

25th $157,000 $219,000 $37,000 $44,000

50th $157,000 $219,000 $37,000 $44,000

75th $157,000 $219,000 $37,000 $44,000

12 12 7 7

$155,332 $166,605 $66,198 $95,266

25th $117,889 $129,710 $42,414 $55,000

50th $142,444 $162,023 $50,000 $120,075

75th $187,250 $191,750 $91,778 $125,980

21 22 17 17

$173,068 $179,216 $96,889 $128,732

25th $135,792 $140,490 $20,013 $45,000

50th $160,000 $162,400 $55,000 $72,000

75th $195,941 $199,726 $79,169 $160,100

29 29 21 20

$174,789 $192,509 $204,560 $239,071

25th $149,133 $150,000 $97,411 $112,223

50th $166,000 $175,000 $188,118 $210,063

75th $181,947 $200,000 $250,000 $308,900

5 5 2 2

$170,546 $176,859 $231,650 $270,896

25th $145,000 $150,000 $147,475 $206,344

50th $174,570 $182,505 $231,650 $270,896

75th $182,000 $200,000 $315,825 $335,448

9 9 7 7

$166,684 $179,324 $78,876 $90,002

25th $137,072 $147,332 $30,567 $32,506

50th $145,000 $150,000 $55,000 $60,000

75th $180,000 $185,000 $85,000 $119,500

39 39 27 26

$176,651 $188,413 $158,110 $194,802

25th $151,067 $156,048 $50,000 $93,230

50th $174,570 $185,000 $100,000 $140,896

75th $203,481 $211,475 $250,000 $317,500

20 21 14 14

$159,374 $174,574 $148,961 $180,547

25th $124,740 $130,627 $20,314 $50,708

50th $144,000 $152,095 $68,082 $122,520

75th $180,235 $185,000 $178,588 $237,531

35 36 22 21

$182,409 $197,700 $191,109 $226,575

25th $142,580 $150,000 $60,125 $75,000

50th $166,504 $176,060 $119,078 $158,232

75th $216,090 $232,013 $261,760 $350,000

16 16 13 13

$165,073 $176,102 $102,200 $124,437

25th $136,825 $145,521 $37,000 $45,000

50th $171,913 $185,000 $50,000 $72,000

75th $182,250 $202,500 $97,411 $119,307

17 17 13 13

$150,092 $158,427 $105,658 $142,060

25th $124,078 $129,681 $44,828 $60,000

50th $150,000 $152,095 $79,169 $140,000

75th $175,000 $185,000 $161,222 $200,125

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses





Salary

2017 Base

Salary



Responses 4 4 0 0

$134,007 $139,603 N/A N/A

25th $116,631 $120,977 N/A N/A

50th $133,000 $135,500 N/A N/A

75th $150,376 $154,126 N/A N/A

12 12 8 7

$172,769 $183,837 $96,979 $109,285

25th $146,750 $152,500 $50,000 $82,987

50th $172,704 $183,433 $73,245 $107,000

75th $205,545 $209,513 $134,055 $142,550

8 8 6 6

$148,671 $154,142 $131,335 $155,562

25th $138,290 $138,764 $49,446 $63,448

50th $150,614 $150,614 $80,356 $130,549

75th $165,278 $174,190 $165,441 $185,542

16 16 13 13

$163,955 $185,956 $156,322 $186,108

25th $119,576 $133,828 $41,000 $51,000

50th $150,699 $164,608 $55,000 $100,000

75th $199,456 $206,546 $118,080 $140,000

26 27 18 18

$184,531 $193,366 $166,862 $207,709

25th $139,500 $148,666 $46,711 $76,740

50th $175,000 $180,113 $144,622 $210,000

75th $209,241 $211,475 $261,760 $336,300

55 55 36 35

$164,149 $178,954 $144,715 $174,965

25th $128,841 $140,892 $52,457 $60,250

50th $158,232 $166,504 $88,290 $125,000

75th $181,974 $200,000 $200,000 $235,000

5 6 5 5

$205,249 $199,429 $251,916 $275,929

25th $129,888 $145,534 $21,254 $23,616

50th $180,113 $168,579 $320,200 $360,225

75th $250,000 $232,528 $375,000 $375,000

1 1 1 1

$250,000 $240,000 $20,000 $60,000

25th $250,000 $240,000 $20,000 $60,000

50th $250,000 $240,000 $20,000 $60,000

75th $250,000 $240,000 $20,000 $60,000

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$222,180 $238,050 N/A N/A

25th $222,180 $238,050 N/A N/A

50th $222,180 $238,050 N/A N/A

75th $222,180 $238,050 N/A N/A

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 4 4 2 2

$163,710 $173,273 $83,706 $95,653

25th $137,731 $142,077 $76,853 $83,827

50th $164,567 $167,067 $83,706 $95,653

75th $190,545 $198,263 $90,558 $107,480

5 5 3 2

$163,449 $169,744 $221,041 $210,402

25th $128,000 $130,000 $131,562 $115,604

50th $153,000 $175,000 $250,000 $210,402

75th $210,000 $210,000 $325,000 $305,201

6 6 3 3

$147,160 $161,327 $83,493 $148,653

25th $122,490 $122,490 $50,240 $85,480

50th $141,980 $155,980 $63,480 $126,960

75th $170,500 $196,250 $106,740 $200,980

53 54 40 40

$174,000 $187,376 $145,638 $179,111

25th $137,072 $147,999 $41,091 $57,750

50th $165,312 $172,209 $75,927 $132,500

75th $191,320 $200,000 $200,000 $227,500

10 10 2 2

$223,377 $240,557 $112,500 $214,000

25th $178,500 $180,750 $81,250 $196,000

50th $200,000 $215,000 $112,500 $214,000

75th $255,000 $292,500 $143,750 $232,000

7 8 8 8

$213,839 $216,997 $159,193 $197,980

25th $169,230 $172,619 $74,377 $112,500

50th $191,320 $191,362 $137,500 $180,113

75th $220,000 $241,250 $209,838 $293,750

0 0 0 0

N/A N/A N/A N/A




56 56 37 36

$165,858 $179,814 $141,333 $170,319

25th $127,875 $141,768 $41,000 $50,750

50th $159,116 $166,752 $70,000 $118,693

75th $183,500 $200,000 $200,000 $205,000

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


Portfolio Manager


66 67 40 40

$122,040 $132,935 $54,654 $72,600

25th $96,969 $109,478 $20,575 $25,079

50th $120,075 $134,000 $50,000 $55,766

75th $148,069 $158,226 $80,000 $88,500

29 30 10 10

$122,685 $133,167 $76,855 $89,199

25th $96,922 $110,181 $23,411 $25,061

50th $120,075 $130,340 $53,011 $61,917

75th $150,000 $158,613 $118,058 $136,019

16 16 15 14

$122,926 $127,330 $58,472 $79,889

25th $94,145 $99,165 $48,710 $51,806

50th $113,980 $119,370 $56,035 $69,021

75th $145,000 $147,625 $79,625 $85,812

6 6 5 6

$121,932 $139,266 $25,500 $47,706

25th $104,500 $134,250 $9,944 $29,275

50th $125,250 $137,500 $28,299 $48,018

75th $133,625 $147,500 $39,006 $59,009

10 10 7 7

$108,824 $121,354 $45,001 $63,716

25th $69,721 $77,979 $24,009 $28,011

50th $113,000 $125,025 $47,000 $50,000

75th $131,743 $158,000 $67,749 $67,749

35 36 23 22

$133,326 $142,451 $64,235 $81,991

25th $105,724 $119,663 $36,023 $50,433

50th $135,000 $142,750 $55,497 $65,000

75th $151,400 $160,000 $81,500 $97,000

16 16 11 12

$104,736 $113,875 $41,678 $65,232

25th $95,706 $107,681 $16,127 $22,336

50th $103,031 $117,538 $22,107 $32,850

75th $120,556 $128,000 $57,312 $83,062

4 4 1 1

$116,898 $135,061 $90,000 $90,000

25th $72,774 $109,553 $90,000 $90,000

50th $115,876 $141,992 $90,000 $90,000

75th $160,000 $167,500 $90,000 $90,000

31 31 24 24

$115,365 $125,992 $61,580 $73,738

25th $92,058 $105,866 $22,661 $23,014

50th $106,000 $120,075 $55,766 $69,021

75th $130,300 $146,000 $80,000 $88,500

20 20 10 10

$126,381 $135,924 $39,327 $71,182

25th $104,219 $127,185 $22,288 $31,956

50th $133,250 $140,000 $40,000 $45,000

75th $150,200 $159,102 $50,000 $60,000

6 6 2 2

$133,328 $144,173 $126,048 $145,059

25th $108,797 $120,431 $113,024 $122,530

50th $150,000 $161,000 $126,048 $145,059

75th $168,000 $173,750 $139,071 $167,589

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Portfolio Manager

Responses

Average

Percentiles


Portfolio Manager



Salary

2017 Base

Salary



Responses 12 12 7 6

$133,133 $144,742 $69,768 $108,950

25th $112,731 $132,750 $62,400 $65,000

50th $135,000 $151,750 $80,000 $84,000

75th $166,000 $171,250 $81,500 $97,000

21 21 11 12

$120,246 $129,948 $30,908 $51,517

25th $100,000 $110,624 $9,100 $19,500

50th $122,000 $134,000 $22,500 $35,300

75th $148,000 $150,000 $47,750 $62,500

8 9 4 4

$161,403 $166,739 $67,500 $80,000

25th $137,700 $140,000 $50,000 $57,500

50th $150,314 $157,452 $75,000 $80,000

75th $182,500 $190,000 $92,500 $102,500

13 13 11 11

$98,831 $107,672 $74,810 $85,926

25th $84,053 $92,058 $32,020 $44,028

50th $92,058 $107,667 $52,033 $56,035

75th $116,073 $120,075 $101,664 $101,664

7 7 4 4

$111,758 $124,186 $61,738 $72,775

25th $85,796 $110,894 $50,653 $54,555

50th $105,488 $121,971 $53,614 $63,314

75th $134,785 $141,696 $64,698 $81,533

1 1 1 1

$38,438 $35,923 $4,490 $4,490

25th $38,438 $35,923 $4,490 $4,490

50th $38,438 $35,923 $4,490 $4,490

75th $38,438 $35,923 $4,490 $4,490

11 11 6 6

$100,081 $109,420 $47,296 $71,999

25th $78,876 $94,529 $24,756 $30,269

50th $103,265 $110,000 $45,760 $54,665

75th $113,985 $122,977 $73,311 $73,311

27 27 21 21

$126,059 $136,698 $47,753 $65,958

25th $95,881 $111,870 $20,575 $23,215

50th $120,075 $140,000 $47,000 $52,033

75th $151,400 $159,500 $74,800 $88,000

10 11 5 5

$120,465 $128,911 $37,788 $50,246

25th $99,652 $114,094 $13,750 $40,000

50th $132,250 $134,000 $45,000 $51,730

75th $138,500 $141,750 $51,298 $60,000

8 8 6 6

$112,666 $125,921 $115,052 $127,391

25th $96,060 $108,448 $65,000 $72,500

50th $118,036 $133,340 $102,039 $102,039

75th $132,150 $144,852 $145,091 $173,608

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Portfolio Manager



Salary

2017 Base

Salary



Responses 1 1 1 1

$122,000 $126,000 $21,000 $21,000

25th $122,000 $126,000 $21,000 $21,000

50th $122,000 $126,000 $21,000 $21,000

75th $122,000 $126,000 $21,000 $21,000

29 30 16 17

$102,132 $115,987 $62,495 $80,593

25th $76,752 $96,475 $23,215 $36,023

50th $98,000 $117,538 $50,000 $71,131

75th $130,000 $138,750 $80,000 $94,500

23 23 16 15

$132,568 $140,341 $59,405 $69,991

25th $104,612 $116,485 $36,023 $51,016

50th $134,000 $140,000 $53,765 $56,035

75th $153,500 $160,000 $76,100 $79,000

6 6 4 4

$165,297 $169,570 $41,183 $96,683

25th $152,250 $156,212 $17,500 $18,750

50th $167,855 $174,924 $35,865 $35,865

75th $179,927 $184,375 $59,548 $113,798

2 2 1 1

$123,618 $130,570 $5,000 $5,000

25th $112,613 $117,129 $5,000 $5,000

50th $123,618 $130,570 $5,000 $5,000

75th $134,622 $144,011 $5,000 $5,000

28 28 19 19

$118,714 $129,555 $65,717 $73,679

25th $99,750 $112,032 $38,011 $45,000

50th $120,075 $131,040 $52,033 $60,000

75th $141,407 $152,024 $77,400 $84,000

25 26 14 14

$124,337 $132,524 $47,256 $81,791

25th $92,058 $103,250 $18,750 $23,236

50th $119,000 $133,800 $28,018 $53,011

75th $155,000 $159,750 $80,000 $98,625

7 7 5 5

$123,251 $130,695 $49,235 $57,539

25th $99,052 $108,358 $36,023 $51,730

50th $122,000 $126,000 $47,421 $53,834

75th $151,355 $157,424 $51,730 $71,131

25 25 14 13

$114,754 $124,185 $59,090 $75,526

25th $84,053 $103,688 $20,681 $21,000

50th $116,073 $128,080 $50,865 $51,730

75th $140,000 $150,000 $80,000 $112,740

12 12 10 10

$124,340 $134,650 $42,381 $48,814

25th $97,960 $117,318 $23,411 $25,061

50th $121,023 $137,250 $38,011 $47,749

75th $151,250 $154,750 $53,478 $67,357

24 25 14 15

$125,459 $135,663 $63,504 $90,847

25th $96,514 $109,909 $41,511 $52,933

50th $121,080 $134,000 $56,035 $70,000

75th $151,100 $160,000 $81,500 $92,250

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Portfolio Manager



Salary

2017 Base

Salary



Responses 4 4 2 2

$70,507 $84,041 $42,245 $102,245

25th $55,238 $58,675 $23,368 $53,368

50th $68,795 $88,129 $42,245 $102,245

75th $84,064 $113,496 $61,123 $151,123

13 13 10 10

$120,263 $127,623 $47,519 $54,355

25th $92,058 $97,000 $36,023 $50,508

50th $118,000 $121,971 $49,516 $54,665

75th $148,093 $152,095 $55,901 $65,041

8 8 6 6

$121,187 $132,052 $48,375 $55,348

25th $99,500 $108,218 $18,125 $20,525

50th $105,724 $118,370 $47,400 $50,675

75th $129,250 $152,500 $78,137 $85,812

12 12 10 11

$122,928 $135,240 $53,618 $89,147

25th $97,960 $123,394 $23,607 $33,311

50th $126,288 $131,040 $40,000 $60,000

75th $140,950 $141,450 $55,000 $82,815

21 22 9 8

$127,018 $137,649 $82,545 $93,866

25th $100,063 $105,526 $51,730 $57,933

50th $132,000 $141,750 $80,000 $90,000

75th $150,800 $159,852 $100,000 $128,058

38 39 27 26

$123,090 $133,884 $64,809 $76,422

25th $100,016 $110,312 $30,011 $35,450

50th $121,985 $138,600 $55,497 $65,000

75th $148,069 $155,226 $80,000 $89,500

5 5 4 4

$143,143 $150,045 $72,767 $140,019

25th $92,058 $93,659 $55,034 $64,040

50th $147,600 $159,408 $69,518 $104,021

75th $183,000 $187,500 $87,250 $180,000

4 4 0 0

$130,431 $138,500 N/A N/A

25th $113,481 $120,750 N/A N/A

50th $134,900 $141,500 N/A N/A

75th $151,850 $159,250 N/A N/A

1 1 1 1

$120,075 $120,075 $23,215 $23,215

25th $120,075 $120,075 $23,215 $23,215

50th $120,075 $120,075 $23,215 $23,215

75th $120,075 $120,075 $23,215 $23,215

1 1 1 1

$92,058 $92,058 $12,008 $22,414

25th $92,058 $92,058 $12,008 $22,414

50th $92,058 $92,058 $12,008 $22,414

75th $92,058 $92,058 $12,008 $22,414

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Portfolio Manager



Salary

2017 Base

Salary



Responses 9 9 6 7

$128,613 $136,788 $63,131 $82,795

25th $100,063 $109,909 $20,288 $47,850

50th $132,500 $140,000 $70,000 $79,250

75th $155,000 $160,000 $89,625 $97,250

9 9 4 4

$96,040 $115,035 $21,659 $27,562

25th $75,000 $111,000 $17,350 $18,250

50th $96,922 $120,075 $22,107 $22,107

75th $120,075 $126,000 $26,417 $31,420

8 8 5 5

$110,369 $117,796 $81,041 $87,564

25th $91,057 $96,165 $52,033 $52,033

50th $107,036 $111,485 $55,497 $55,497

75th $125,228 $134,060 $56,035 $68,043

32 33 23 22

$127,713 $136,574 $55,212 $77,502

25th $102,850 $110,624 $32,020 $37,017

50th $126,043 $134,160 $50,000 $60,000

75th $154,000 $160,000 $80,000 $89,500

7 7 2 2

$133,001 $150,134 $18,600 $35,670

25th $98,555 $117,615 $17,900 $28,505

50th $128,000 $150,000 $18,600 $35,670

75th $153,800 $159,704 $19,300 $42,835

3 3 2 2

$107,873 $108,660 $41,607 $46,607

25th $92,510 $93,690 $32,411 $34,911

50th $120,075 $120,075 $41,607 $46,607

75th $129,338 $129,338 $50,804 $58,304

0 0 0 0

N/A N/A N/A N/A




51 52 31 31

$122,702 $132,763 $47,967 $67,418

25th $95,881 $109,762 $20,431 $24,057

50th $121,971 $133,300 $47,210 $53,834

75th $150,400 $157,839 $76,100 $89,000

1 1 1 1

$76,048 $88,055 $79,250 $79,250

25th $76,048 $88,055 $79,250 $79,250

50th $76,048 $88,055 $79,250 $79,250

75th $76,048 $88,055 $79,250 $79,250

2 2 0 0

$124,150 $128,150 N/A N/A

25th $106,225 $112,225 N/A N/A

50th $124,150 $128,150 N/A N/A

75th $142,075 $144,075 N/A N/A

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


Legal


15 15 5 4

$141,206 $147,764 $57,172 $76,718

25th $86,026 $88,028 $9,200 $61,357

50th $108,000 $112,000 $66,354 $86,311

75th $205,599 $221,285 $92,302 $101,671

8 8 0 0

$123,363 $130,613 N/A N/A

25th $84,750 $86,000 N/A N/A

50th $105,500 $110,000 N/A N/A

75th $161,925 $166,675 N/A N/A

1 1 1 0

$84,053 $88,055 $8,005 N/A

25th $84,053 $88,055 $8,005 N/A

50th $84,053 $88,055 $8,005 N/A

75th $84,053 $88,055 $8,005 N/A

2 2 1 1

$162,500 $166,000 $9,200 $24,250

25th $129,750 $131,500 $9,200 $24,250

50th $162,500 $166,000 $9,200 $24,250

75th $195,250 $200,500 $9,200 $24,250

4 4 3 3

$180,534 $187,875 $89,552 $94,207

25th $157,544 $178,480 $79,328 $86,311

50th $205,599 $221,285 $92,302 $98,895

75th $228,589 $230,680 $101,151 $104,448

8 8 2 2

$144,650 $154,196 $101,151 $104,448

25th $96,000 $101,000 $96,727 $101,671

50th $136,500 $148,000 $101,151 $104,448

75th $198,398 $219,427 $105,576 $107,224

6 6 3 2

$145,482 $149,148 $27,853 $48,988

25th $87,289 $90,291 $8,603 $36,619

50th $128,950 $128,950 $9,200 $48,988

75th $205,225 $220,225 $37,777 $61,357

0 0 0 0

N/A N/A N/A N/A




3 3 0 0

$148,495 $152,371 N/A N/A

25th $108,742 $111,056 N/A N/A

50th $160,901 $160,901 N/A N/A

75th $194,450 $197,950 N/A N/A

4 4 3 2

$135,852 $136,194 $27,853 $48,988

25th $93,763 $94,764 $8,603 $36,619

50th $102,500 $104,500 $9,200 $48,988

75th $144,589 $145,930 $37,777 $61,357

8 8 2 2

$141,150 $151,821 $101,151 $104,448

25th $84,750 $86,000 $96,727 $101,671

50th $134,000 $146,000 $101,151 $104,448

75th $198,398 $219,427 $105,576 $107,224

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Legal

Responses

Average

Percentiles


Legal



Salary

2017 Base

Salary



Responses 3 3 1 1

$183,667 $189,333 $110,000 $110,000

25th $161,500 $166,500 $110,000 $110,000

50th $220,000 $225,000 $110,000 $110,000

75th $224,000 $230,000 $110,000 $110,000

5 5 1 1

$117,600 $123,400 $9,200 $24,250

25th $88,000 $88,000 $9,200 $24,250

50th $97,000 $97,000 $9,200 $24,250

75th $108,000 $112,000 $9,200 $24,250

2 2 0 0

$116,000 $128,000 N/A N/A

25th $91,500 $100,000 N/A N/A

50th $116,000 $128,000 N/A N/A

75th $140,500 $156,000 N/A N/A

2 2 1 0

$122,477 $124,478 $8,005 N/A

25th $103,265 $106,266 $8,005 N/A

50th $122,477 $124,478 $8,005 N/A

75th $141,689 $142,689 $8,005 N/A

2 2 1 1

$123,890 $139,390 $92,302 $98,895

25th $90,237 $100,301 $92,302 $98,895

50th $123,890 $139,390 $92,302 $98,895

75th $157,544 $178,480 $92,302 $98,895

1 1 1 1

$254,357 $247,721 $66,354 $73,727

25th $254,357 $247,721 $66,354 $73,727

50th $254,357 $247,721 $66,354 $73,727

75th $254,357 $247,721 $66,354 $73,727

0 0 0 0

N/A N/A N/A N/A




2 2 0 0

$162,950 $172,450 N/A N/A

25th $161,925 $166,675 N/A N/A

50th $162,950 $172,450 N/A N/A

75th $163,975 $178,225 N/A N/A

5 5 1 1

$76,717 $79,642 $9,200 $24,250

25th $67,000 $72,000 $9,200 $24,250

50th $75,000 $80,000 $9,200 $24,250

75th $88,000 $88,000 $9,200 $24,250

6 6 3 3

$203,592 $212,882 $89,552 $94,207

25th $198,398 $219,427 $79,328 $86,311

50th $220,000 $230,000 $92,302 $98,895

75th $226,000 $238,750 $101,151 $104,448

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Legal



Salary

2017 Base

Salary



Responses 3 3 0 0

$70,528 $73,737 N/A N/A

25th $61,792 $66,606 N/A N/A

50th $67,000 $72,000 N/A N/A

75th $77,500 $80,000 N/A N/A

2 2 1 1

$147,500 $152,500 $110,000 $110,000

25th $111,250 $116,250 $110,000 $110,000

50th $147,500 $152,500 $110,000 $110,000

75th $183,750 $188,750 $110,000 $110,000

3 3 1 1

$160,667 $173,667 $9,200 $24,250

25th $131,000 $140,500 $9,200 $24,250

50th $165,000 $184,000 $9,200 $24,250

75th $192,500 $212,000 $9,200 $24,250

3 3 1 1

$195,119 $196,907 $66,354 $73,727

25th $165,500 $171,500 $66,354 $73,727

50th $228,000 $235,000 $66,354 $73,727

75th $241,178 $241,361 $66,354 $73,727

2 2 1 1

$149,599 $164,785 $92,302 $98,895

25th $128,799 $138,392 $92,302 $98,895

50th $149,599 $164,785 $92,302 $98,895

75th $170,398 $191,177 $92,302 $98,895

1 1 1 1

$254,357 $247,721 $66,354 $73,727

25th $254,357 $247,721 $66,354 $73,727

50th $254,357 $247,721 $66,354 $73,727

75th $254,357 $247,721 $66,354 $73,727

0 0 0 0

N/A N/A N/A N/A




12 12 3 3

$134,898 $143,315 $70,501 $77,715

25th $84,750 $86,000 $50,751 $61,573

50th $105,500 $110,000 $92,302 $98,895

75th $198,398 $219,427 $101,151 $104,448

8 8 2 2

$126,973 $135,848 $50,751 $61,573

25th $89,500 $90,750 $29,976 $42,911

50th $105,500 $110,000 $50,751 $61,573

75th $171,549 $192,392 $71,527 $80,234

0 0 0 0

N/A N/A N/A N/A




5 5 2 2

$171,471 $176,144 $88,177 $91,863

25th $88,000 $88,000 $77,265 $82,795

50th $220,000 $225,000 $88,177 $91,863

75th $220,000 $240,000 $99,088 $100,932

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Legal

Experience

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Legal



Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$56,584 $61,211 N/A N/A

25th $56,584 $61,211 N/A N/A

50th $56,584 $61,211 N/A N/A

75th $56,584 $61,211 N/A N/A

2 2 1 0

$122,477 $124,478 $8,005 N/A

25th $103,265 $106,266 $8,005 N/A

50th $122,477 $124,478 $8,005 N/A

75th $141,689 $142,689 $8,005 N/A

4 4 2 2

$170,299 $183,392 $50,751 $61,573

25th $148,000 $162,250 $29,976 $42,911

50th $178,099 $200,785 $50,751 $61,573

75th $200,398 $221,927 $71,527 $80,234

7 7 1 1

$130,765 $135,389 $66,354 $73,727

25th $81,500 $84,000 $66,354 $73,727

50th $103,000 $108,000 $66,354 $73,727

75th $164,000 $176,000 $66,354 $73,727

6 6 1 1

$145,807 $148,139 $66,354 $73,727

25th $77,250 $82,000 $66,354 $73,727

50th $134,450 $136,450 $66,354 $73,727

75th $211,225 $216,475 $66,354 $73,727

1 1 0 0

$220,000 $240,000 N/A N/A

25th $220,000 $240,000 N/A N/A

50th $220,000 $240,000 N/A N/A

75th $220,000 $240,000 N/A N/A

1 1 1 1

$191,197 $217,569 $92,302 $98,895

25th $191,197 $217,569 $92,302 $98,895

50th $191,197 $217,569 $92,302 $98,895

75th $191,197 $217,569 $92,302 $98,895

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$165,000 $184,000 N/A N/A

25th $165,000 $184,000 N/A N/A

50th $165,000 $184,000 N/A N/A

75th $165,000 $184,000 N/A N/A

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Legal



Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




2 2 0 0

$126,500 $136,000 N/A N/A

25th $107,250 $112,000 N/A N/A

50th $126,500 $136,000 N/A N/A

75th $145,750 $160,000 N/A N/A

1 1 0 0

$108,000 $112,000 N/A N/A

25th $108,000 $112,000 N/A N/A

50th $108,000 $112,000 N/A N/A

75th $108,000 $112,000 N/A N/A

2 2 2 2

$205,599 $221,285 $101,151 $104,448

25th $198,398 $219,427 $96,727 $101,671

50th $205,599 $221,285 $101,151 $104,448

75th $212,799 $223,142 $105,576 $107,224

10 10 3 2

$134,589 $138,989 $27,853 $48,988

25th $77,263 $82,014 $8,603 $36,619

50th $100,000 $102,500 $9,200 $48,988

75th $205,225 $216,475 $37,777 $61,357

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 1 1

$138,049 $150,392 $92,302 $98,895

25th $103,000 $106,000 $92,302 $98,895

50th $136,500 $148,000 $92,302 $98,895

75th $171,549 $192,392 $92,302 $98,895

0 0 0 0

N/A N/A N/A N/A




8 8 2 2

$137,618 $142,617 $37,777 $48,988

25th $73,000 $78,000 $23,488 $36,619

50th $100,000 $102,500 $37,777 $48,988

75th $222,000 $236,250 $52,065 $61,357

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles




20 20 13 13

$137,036 $144,336 $75,913 $93,429

25th $98,612 $101,260 $12,500 $25,000

50th $110,928 $121,491 $22,159 $49,001

75th $141,180 $146,250 $45,630 $52,000

5 5 3 3

$151,344 $156,705 $46,949 $56,344

25th $129,000 $130,000 $29,065 $33,000

50th $130,000 $134,500 $45,630 $52,000

75th $171,720 $182,023 $64,174 $77,516

6 6 5 5

$95,946 $99,221 $16,371 $37,678

25th $85,553 $87,635 $6,404 $35,553

50th $97,361 $100,301 $12,500 $47,430

75th $103,341 $108,055 $22,159 $49,001

4 4 1 1

$170,625 $179,375 $15,000 $15,000

25th $123,625 $128,125 $15,000 $15,000

50th $153,000 $157,500 $15,000 $15,000

75th $200,000 $208,750 $15,000 $15,000

3 3 2 2

$91,118 $104,437 $33,576 $45,465

25th $78,000 $91,656 $27,288 $35,233

50th $100,000 $121,311 $33,576 $45,465

75th $108,678 $125,656 $39,863 $55,698

9 9 6 6

$133,842 $143,001 $32,838 $48,753

25th $104,500 $121,311 $14,625 $27,638

50th $120,000 $130,000 $21,580 $42,277

75th $131,000 $135,000 $40,153 $61,698

7 7 3 3

$129,739 $133,736 $29,276 $35,278

25th $88,655 $91,217 $21,099 $26,917

50th $99,862 $102,220 $35,794 $47,430

75th $152,500 $157,250 $40,712 $49,715

1 1 1 1

$74,000 $79,000 $5,000 $50,000

25th $74,000 $79,000 $5,000 $50,000

50th $74,000 $79,000 $5,000 $50,000

75th $74,000 $79,000 $5,000 $50,000

4 4 2 2

$94,578 $96,986 $9,452 $27,703

25th $80,839 $83,039 $7,928 $17,053

50th $91,157 $93,136 $9,452 $27,703

75th $104,897 $107,083 $10,976 $38,352

8 8 6 6

$140,635 $151,113 $35,383 $52,169

25th $98,715 $107,095 $21,290 $38,522

50th $117,250 $132,250 $28,976 $48,715

75th $172,540 $180,506 $43,171 $51,500

5 5 2 2

$136,671 $141,062 $29,326 $39,965

25th $117,355 $121,311 $20,913 $26,983

50th $129,000 $130,000 $29,326 $39,965

75th $131,000 $135,000 $37,738 $52,948

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Core Services Manager

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 6 6 4 4

$150,500 $156,695 $18,908 $41,250

25th $122,250 $123,753 $10,625 $40,251

50th $129,500 $132,250 $12,500 $49,501

75th $163,750 $168,625 $20,783 $50,500

5 5 3 3

$126,400 $136,900 $19,386 $25,184

25th $100,000 $107,500 $18,000 $20,000

50th $101,500 $110,000 $21,000 $25,000

75th $104,500 $130,000 $21,580 $30,277

3 3 1 1

$119,573 $126,341 $82,717 $103,032

25th $93,500 $98,500 $82,717 $103,032

50th $131,000 $135,000 $82,717 $103,032

75th $151,360 $158,512 $82,717 $103,032

3 3 2 2

$92,391 $94,885 $21,099 $26,917

25th $88,655 $91,217 $13,751 $16,660

50th $94,859 $98,381 $21,099 $26,917

75th $97,361 $100,301 $28,446 $37,173

1 1 1 1

$117,355 $121,311 $46,151 $65,930

25th $117,355 $121,311 $46,151 $65,930

50th $117,355 $121,311 $46,151 $65,930

75th $117,355 $121,311 $46,151 $65,930

0 0 0 0

N/A N/A N/A N/A




6 6 3 3

$112,477 $116,232 $21,043 $50,334

25th $81,966 $85,555 $8,750 $49,501

50th $109,931 $111,945 $12,500 $50,000

75th $127,500 $131,293 $29,065 $51,000

5 5 3 3

$147,900 $160,000 $18,553 $24,851

25th $104,500 $130,000 $16,750 $19,500

50th $129,000 $130,000 $21,000 $25,000

75th $131,000 $135,000 $21,580 $30,277

2 2 1 1

$166,226 $170,526 $6,404 $6,404

25th $124,339 $127,289 $6,404 $6,404

50th $166,226 $170,526 $6,404 $6,404

75th $208,113 $213,763 $6,404 $6,404

4 4 4 4

$121,359 $127,304 $44,915 $57,848

25th $99,840 $105,220 $30,595 $39,322

50th $109,428 $114,406 $40,972 $56,680

75th $130,947 $136,489 $55,293 $75,206

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada





Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




7 7 5 5

$106,576 $111,756 $34,382 $42,398

25th $91,157 $93,136 $15,000 $15,000

50th $101,500 $107,500 $22,159 $35,553

75th $117,250 $122,250 $45,630 $52,000

4 4 2 2

$93,965 $98,095 $20,397 $48,715

25th $75,500 $79,750 $12,698 $48,072

50th $85,430 $89,191 $20,397 $48,715

75th $103,894 $107,536 $28,095 $49,357

5 5 3 3

$158,271 $161,996 $23,717 $42,977

25th $120,000 $121,671 $12,500 $31,501

50th $129,000 $130,000 $12,500 $49,001

75th $175,000 $180,000 $29,326 $57,466

2 2 1 1

$187,500 $212,500 $21,000 $25,000

25th $143,750 $171,250 $21,000 $25,000

50th $187,500 $212,500 $21,000 $25,000

75th $231,250 $253,750 $21,000 $25,000

7 7 5 5

$135,218 $140,008 $30,554 $54,873

25th $99,903 $102,682 $6,404 $49,001

50th $120,000 $121,671 $12,500 $50,000

75th $151,360 $158,512 $46,151 $65,930

9 9 6 6

$123,414 $131,956 $25,347 $31,497

25th $99,862 $102,220 $16,500 $17,500

50th $101,500 $110,000 $21,580 $30,277

75th $129,000 $130,000 $32,385 $44,460

2 2 0 0

$115,500 $121,000 N/A N/A

25th $85,750 $91,500 N/A N/A

50th $115,500 $121,000 N/A N/A

75th $145,250 $150,500 N/A N/A

5 5 3 3

$120,972 $126,176 $28,808 $49,810

25th $74,000 $79,000 $20,397 $48,715

50th $94,859 $98,381 $35,794 $50,000

75th $130,000 $134,500 $40,712 $51,000

2 2 2 2

$108,678 $125,656 $33,576 $45,465

25th $104,339 $123,483 $27,288 $35,233

50th $108,678 $125,656 $33,576 $45,465

75th $113,017 $127,828 $39,863 $55,698

11 11 6 6

$133,276 $138,861 $25,213 $37,165

25th $100,681 $104,860 $12,500 $14,250

50th $120,000 $121,671 $13,750 $25,277

75th $151,360 $157,500 $20,370 $45,639

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses





Salary

2017 Base

Salary



Responses 1 1 0 0

$76,000 $80,000 N/A N/A

25th $76,000 $80,000 N/A N/A

50th $76,000 $80,000 N/A N/A

75th $76,000 $80,000 N/A N/A

6 6 4 4

$108,552 $116,157 $11,226 $32,601

25th $86,804 $88,594 $6,053 $20,351

50th $99,931 $111,945 $9,452 $37,001

75th $115,000 $127,918 $14,625 $49,251

0 0 0 0

N/A N/A N/A N/A




3 3 1 1

$178,667 $188,167 $45,630 $52,000

25th $130,500 $134,750 $45,630 $52,000

50th $131,000 $135,000 $45,630 $52,000

75th $203,000 $215,000 $45,630 $52,000

8 8 6 6

$128,117 $133,527 $35,720 $46,824

25th $99,840 $105,220 $16,790 $20,138

50th $110,928 $115,656 $28,976 $41,491

75th $139,680 $143,006 $43,562 $61,305

10 10 8 8

$129,171 $135,936 $24,197 $39,795

25th $100,375 $110,953 $12,500 $22,500

50th $118,678 $125,836 $18,000 $48,215

75th $129,750 $133,375 $38,253 $50,500

1 1 1 1

$171,720 $182,023 $82,717 $103,032

25th $171,720 $182,023 $82,717 $103,032

50th $171,720 $182,023 $82,717 $103,032

75th $171,720 $182,023 $82,717 $103,032

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 1 1

$97,328 $100,318 $6,404 $6,404

25th $80,839 $83,039 $6,404 $6,404

50th $91,157 $93,136 $6,404 $6,404

75th $107,647 $110,415 $6,404 $6,404

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 3 3 1 1

$136,151 $140,351 $6,404 $6,404

25th $79,226 $82,026 $6,404 $6,404

50th $82,452 $84,053 $6,404 $6,404

75th $166,226 $170,526 $6,404 $6,404

1 1 0 0

$131,000 $135,000 N/A N/A

25th $131,000 $135,000 N/A N/A

50th $131,000 $135,000 N/A N/A

75th $131,000 $135,000 N/A N/A

1 1 1 1

$171,720 $182,023 $82,717 $103,032

25th $171,720 $182,023 $82,717 $103,032

50th $171,720 $182,023 $82,717 $103,032

75th $171,720 $182,023 $82,717 $103,032

1 1 1 1

$100,000 $130,000 $21,000 $25,000

25th $100,000 $130,000 $21,000 $25,000

50th $100,000 $130,000 $21,000 $25,000

75th $100,000 $130,000 $21,000 $25,000

14 14 10 10

$137,824 $144,190 $87,675 $108,015

25th $100,272 $103,540 $13,125 $38,522

50th $110,928 $116,691 $27,090 $49,501

75th $129,750 $133,375 $43,171 $51,808

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




5 5 3 3

$147,034 $157,615 $36,707 $44,812

25th $100,000 $130,000 $13,702 $15,702

50th $131,000 $135,000 $21,000 $25,000

75th $171,720 $182,023 $51,859 $64,016

0 0 0 0

N/A N/A N/A N/A




12 12 8 8

$123,090 $128,465 $24,342 $41,114

25th $98,612 $101,260 $12,500 $30,415

50th $110,928 $115,656 $18,580 $48,215

75th $129,250 $131,125 $38,253 $50,500

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


Senior Associate


21 21 12 11

$111,654 $117,905 $50,429 $63,469

25th $84,053 $88,322 $11,769 $15,000

50th $106,000 $110,000 $19,212 $33,621

75th $145,000 $152,400 $51,563 $93,250

9 9 4 4

$98,208 $105,097 $17,898 $24,088

25th $80,900 $87,255 $11,269 $14,777

50th $85,000 $102,000 $18,988 $24,311

75th $116,604 $116,604 $25,616 $33,621

4 4 2 2

$140,500 $146,000 $74,750 $76,000

25th $103,500 $108,500 $43,625 $45,500

50th $133,000 $140,000 $74,750 $76,000

75th $170,000 $177,500 $105,875 $106,500

4 4 3 2

$137,500 $144,988 $42,917 $97,250

25th $130,000 $142,500 $10,000 $73,375

50th $150,000 $160,000 $10,000 $97,250

75th $157,500 $162,488 $59,375 $121,125

2 2 2 2

$102,223 $110,725 $22,654 $22,654

25th $88,335 $94,587 $17,731 $17,731

50th $102,223 $110,725 $22,654 $22,654

75th $116,112 $126,862 $27,577 $27,577

11 11 6 5

$132,101 $140,442 $34,977 $49,622

25th $103,302 $111,302 $10,000 $15,000

50th $130,000 $143,000 $11,180 $32,500

75th $157,500 $164,975 $27,465 $49,500

4 4 4 4

$102,975 $108,526 $43,121 $56,811

25th $82,251 $84,653 $22,337 $28,966

50th $95,026 $98,627 $25,616 $33,621

75th $115,750 $122,500 $46,400 $61,466

1 1 0 0

$96,000 $104,000 N/A N/A

25th $96,000 $104,000 N/A N/A

50th $96,000 $104,000 N/A N/A

75th $96,000 $104,000 N/A N/A

5 5 3 3

$88,760 $93,285 $21,244 $27,414

25th $80,900 $87,255 $19,058 $24,311

50th $84,053 $88,322 $25,616 $33,621

75th $96,000 $104,000 $25,616 $33,621

9 9 5 5

$122,102 $129,480 $55,783 $64,783

25th $85,000 $102,000 $12,359 $14,108

50th $116,604 $116,604 $12,808 $15,000

75th $148,000 $160,000 $108,750 $137,000

1 1 0 0

$122,605 $136,584 N/A N/A

25th $122,605 $136,584 N/A N/A

50th $122,605 $136,584 N/A N/A

75th $122,605 $136,584 N/A N/A

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Senior Associate

Responses

Average

Percentiles


Senior Associate



Salary

2017 Base

Salary



Responses 4 4 2 2

$146,216 $152,466 $122,875 $141,000

25th $128,716 $139,966 $115,813 $139,000

50th $152,500 $165,000 $122,875 $141,000

75th $170,000 $177,500 $129,938 $143,000

5 5 2 2

$113,000 $119,880 $22,500 $23,750

25th $96,000 $104,000 $17,500 $19,375

50th $106,000 $110,000 $22,500 $23,750

75th $130,000 $143,000 $27,500 $28,125

6 6 4 3

$122,368 $131,856 $10,090 $26,203

25th $96,651 $108,651 $9,500 $14,554

50th $119,605 $126,594 $10,000 $15,000

75th $146,901 $154,146 $10,590 $32,250

3 3 3 3

$78,449 $80,851 $21,347 $26,683

25th $75,647 $77,649 $19,212 $23,215

50th $76,848 $78,449 $25,616 $33,621

75th $80,450 $82,852 $25,616 $33,621

1 1 0 0

$80,900 $88,322 N/A N/A

25th $80,900 $88,322 N/A N/A

50th $80,900 $88,322 N/A N/A

75th $80,900 $88,322 N/A N/A

0 0 0 0

N/A N/A N/A N/A




3 3 2 2

$115,667 $124,667 $60,625 $80,000

25th $101,000 $107,000 $36,563 $47,500

50th $106,000 $110,000 $60,625 $80,000

75th $125,500 $135,000 $84,688 $112,500

7 7 3 3

$112,259 $115,914 $21,347 $26,683

25th $78,356 $79,156 $19,212 $23,215

50th $84,053 $87,255 $25,616 $33,621

75th $135,303 $144,492 $25,616 $33,621

1 1 0 0

$80,900 $88,322 N/A N/A

25th $80,900 $88,322 N/A N/A

50th $80,900 $88,322 N/A N/A

75th $80,900 $88,322 N/A N/A

5 5 3 3

$107,321 $116,921 $52,453 $55,369

25th $85,000 $102,000 $10,180 $14,554

50th $90,000 $106,000 $12,359 $15,000

75th $116,604 $116,604 $74,680 $76,000

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Senior Associate



Salary

2017 Base

Salary



Responses 2 2 1 1

$120,500 $132,000 $108,750 $145,000

25th $108,250 $118,000 $108,750 $145,000

50th $120,500 $132,000 $108,750 $145,000

75th $132,750 $146,000 $108,750 $145,000

10 10 7 6

$118,600 $125,896 $30,846 $43,822

25th $85,539 $92,741 $10,000 $15,000

50th $114,303 $123,292 $12,500 $24,311

75th $153,250 $158,100 $19,212 $45,530

4 4 2 2

$122,962 $130,462 $29,058 $33,061

25th $82,962 $95,712 $27,337 $32,780

50th $107,500 $122,500 $29,058 $33,061

75th $147,500 $157,250 $30,779 $33,341

2 2 1 1

$98,234 $98,234 $12,359 $14,108

25th $89,048 $89,048 $12,359 $14,108

50th $98,234 $98,234 $12,359 $14,108

75th $107,419 $107,419 $12,359 $14,108

0 0 0 0

N/A N/A N/A N/A




9 9 7 7

$112,995 $120,017 $36,271 $39,808

25th $84,053 $87,255 $12,584 $14,554

50th $90,000 $106,000 $25,616 $32,500

75th $130,000 $143,000 $29,058 $33,621

7 7 4 3

$127,838 $133,745 $35,313 $69,833

25th $101,000 $107,000 $10,000 $32,250

50th $145,000 $152,400 $11,250 $49,500

75th $151,500 $160,000 $36,563 $97,250

2 2 0 0

$101,752 $112,453 N/A N/A

25th $91,326 $100,387 N/A N/A

50th $101,752 $112,453 N/A N/A

75th $112,179 $124,518 N/A N/A

10 10 7 6

$130,856 $136,613 $45,175 $65,705

25th $98,500 $105,500 $11,180 $19,655

50th $130,802 $138,302 $12,500 $41,561

75th $158,750 $167,463 $67,183 $115,125

4 4 4 4

$92,824 $101,074 $19,731 $23,482

25th $76,248 $78,049 $11,606 $14,452

50th $83,424 $92,225 $19,212 $23,750

75th $100,000 $115,250 $27,337 $32,780

4 4 0 0

$108,867 $117,712 N/A N/A

25th $83,716 $96,466 N/A N/A

50th $103,803 $119,292 N/A N/A

75th $128,954 $140,538 N/A N/A

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Senior Associate



Salary

2017 Base

Salary



Responses 1 1 0 0

$96,000 $104,000 N/A N/A

25th $96,000 $104,000 N/A N/A

50th $96,000 $104,000 N/A N/A

75th $96,000 $104,000 N/A N/A

0 0 0 0

N/A N/A N/A N/A




2 2 2 2

$80,450 $82,051 $25,616 $33,621

25th $78,649 $79,450 $25,616 $33,621

50th $80,450 $82,051 $25,616 $33,621

75th $82,251 $84,653 $25,616 $33,621

5 5 2 2

$124,590 $132,671 $60,779 $78,904

25th $80,900 $88,322 $36,794 $45,856

50th $122,605 $136,584 $60,779 $78,904

75th $145,000 $160,000 $84,765 $111,952

7 7 3 3

$109,210 $116,695 $52,453 $55,369

25th $85,000 $96,000 $10,180 $14,554

50th $90,000 $106,000 $12,359 $15,000

75th $132,302 $134,502 $74,680 $76,000

12 12 8 7

$123,650 $129,948 $45,248 $63,749

25th $84,763 $89,580 $11,875 $33,061

50th $118,000 $126,500 $25,616 $33,621

75th $156,250 $162,488 $51,563 $93,250

3 3 2 2

$97,201 $108,201 $10,180 $14,554

25th $87,500 $104,000 $9,090 $14,331

50th $90,000 $106,000 $10,180 $14,554

75th $103,302 $111,302 $11,269 $14,777

1 1 0 0

$148,000 $152,400 N/A N/A

25th $148,000 $152,400 N/A N/A

50th $148,000 $152,400 N/A N/A

75th $148,000 $152,400 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$122,605 $136,584 N/A N/A

25th $122,605 $136,584 N/A N/A

50th $122,605 $136,584 N/A N/A

75th $122,605 $136,584 N/A N/A

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Senior Associate



Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




3 3 3 2

$142,000 $146,650 $10,833 $32,250

25th $130,500 $135,000 $10,000 $23,625

50th $155,000 $160,000 $10,000 $32,250

75th $160,000 $164,975 $11,250 $40,875

3 3 1 1

$123,482 $127,483 $12,808 $12,808

25th $85,223 $91,225 $12,808 $12,808

50th $96,000 $104,000 $12,808 $12,808

75th $148,000 $152,000 $12,808 $12,808

10 10 6 6

$111,727 $120,027 $56,247 $66,124

25th $81,688 $87,521 $25,616 $32,780

50th $106,303 $121,292 $29,058 $33,621

75th $141,250 $150,050 $89,688 $111,155

5 5 2 2

$86,205 $90,666 $111,180 $112,054

25th $85,000 $90,000 $61,769 $63,081

50th $85,000 $102,000 $111,180 $112,054

75th $116,604 $116,604 $160,590 $161,027

2 2 2 2

$118,424 $123,424 $81,308 $85,311

25th $97,636 $100,136 $53,462 $59,466

50th $118,424 $123,424 $81,308 $85,311

75th $139,212 $146,712 $109,154 $111,155

0 0 0 0

N/A N/A N/A N/A




13 13 7 6

$123,263 $130,567 $29,624 $48,437

25th $90,000 $104,000 $10,000 $19,375

50th $122,605 $136,584 $12,500 $33,061

75th $148,000 $160,000 $29,058 $45,530

0 0 0 0

N/A N/A N/A N/A




2 2 1 1

$100,802 $109,302 $12,359 $14,108

25th $92,901 $105,651 $12,359 $14,108

50th $100,802 $109,302 $12,359 $14,108

75th $108,703 $112,953 $12,359 $14,108

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


Associate


32 33 18 19

$77,511 $87,764 $22,919 $77,178

25th $66,081 $75,000 $6,297 $8,499

50th $76,400 $87,000 $9,606 $19,500

75th $88,140 $100,368 $33,005 $61,735

10 10 3 3

$78,406 $85,560 $22,178 $29,515

25th $74,525 $77,928 $5,250 $8,250

50th $76,400 $84,828 $6,000 $9,000

75th $86,625 $93,375 $31,018 $40,523

8 8 7 7

$84,851 $93,597 $23,208 $159,741

25th $67,249 $75,820 $6,725 $28,428

50th $86,262 $95,695 $29,000 $51,425

75th $100,750 $114,750 $33,005 $80,000

4 4 2 2

$82,275 $95,939 $54,680 $63,270

25th $75,375 $78,500 $32,020 $38,655

50th $88,300 $91,878 $54,680 $63,270

75th $95,200 $109,316 $77,340 $87,885

8 9 5 6

$69,567 $84,252 $15,850 $21,852

25th $64,560 $72,045 $8,091 $12,408

50th $70,721 $89,507 $10,006 $16,554

75th $81,239 $95,000 $17,227 $27,375

18 19 10 11

$79,358 $89,567 $19,050 $35,354

25th $64,080 $70,844 $6,725 $10,504

50th $75,250 $87,000 $9,606 $30,000

75th $87,750 $106,500 $33,000 $50,713

8 8 4 4

$74,119 $83,795 $47,261 $258,612

25th $73,781 $80,944 $22,757 $55,534

50th $76,400 $83,523 $42,522 $92,273

75th $91,420 $102,026 $67,026 $295,351

2 2 1 1

$88,300 $91,878 $9,360 $14,040

25th $85,650 $87,439 $9,360 $14,040

50th $88,300 $91,878 $9,360 $14,040

75th $90,950 $96,316 $9,360 $14,040

12 12 8 8

$77,927 $87,774 $26,758 $132,069

25th $71,892 $81,355 $7,189 $8,750

50th $81,492 $88,253 $9,483 $13,824

75th $89,400 $100,189 $33,757 $64,125

12 13 6 7

$79,689 $91,026 $19,571 $44,205

25th $63,055 $68,000 $5,297 $21,004

50th $75,876 $82,656 $10,407 $50,000

75th $100,000 $113,000 $33,000 $65,713

2 2 2 2

$72,307 $80,784 $31,446 $39,451

25th $70,437 $79,950 $19,151 $23,154

50th $72,307 $80,784 $31,446 $39,451

75th $74,177 $81,618 $43,740 $55,748

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Associate

Responses

Average

Percentiles


Associate



Salary

2017 Base

Salary



Responses 4 5 2 3

$84,500 $99,000 $18,000 $28,667

25th $60,000 $68,000 $2,000 $18,000

50th $82,750 $107,000 $4,000 $30,000

75th $107,250 $120,000 $27,000 $40,000

13 13 7 7

$84,215 $95,913 $29,337 $46,077

25th $75,000 $83,000 $7,680 $11,520

50th $85,000 $95,000 $19,500 $19,500

75th $93,600 $100,755 $33,000 $80,000

2 2 1 1

$103,500 $108,500 $48,000 $48,000

25th $95,250 $97,750 $48,000 $48,000

50th $103,500 $108,500 $48,000 $48,000

75th $111,750 $119,250 $48,000 $48,000

3 3 3 3

$68,576 $74,713 $25,349 $32,554

25th $64,841 $70,844 $10,006 $12,808

50th $66,442 $72,045 $10,407 $13,609

75th $71,245 $77,248 $33,221 $42,827

7 7 4 4

$71,586 $80,186 $12,511 $227,546

25th $65,930 $72,523 $6,791 $7,713

50th $72,523 $82,656 $7,221 $29,712

75th $78,368 $86,949 $12,942 $249,545

1 1 0 0

$1,870 $2,071 N/A N/A

25th $1,870 $2,071 N/A N/A

50th $1,870 $2,071 N/A N/A

75th $1,870 $2,071 N/A N/A

9 9 5 5

$80,946 $88,049 $17,491 $27,793

25th $65,000 $75,000 $6,593 $14,040

50th $75,000 $83,000 $9,360 $19,500

75th $93,600 $100,755 $19,500 $48,000

6 7 2 3

$66,145 $86,653 $35,333 $50,000

25th $56,875 $76,000 $3,000 $18,750

50th $77,750 $87,000 $6,000 $30,000

75th $86,625 $115,250 $53,000 $71,250

6 6 4 4

$69,372 $75,752 $8,614 $10,118

25th $64,040 $70,244 $7,404 $7,713

50th $67,504 $74,123 $8,596 $10,003

75th $73,767 $78,387 $9,806 $12,408

6 6 4 4

$93,560 $103,079 $43,009 $70,511

25th $79,704 $87,084 $35,000 $66,534

50th $94,280 $106,684 $43,500 $76,023

75th $100,000 $118,250 $51,509 $80,000

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Associate



Salary

2017 Base

Salary



Responses 16 16 8 8

$73,497 $83,738 $31,498 $143,601

25th $69,642 $76,365 $7,404 $7,713

50th $75,250 $83,523 $24,250 $45,773

75th $81,239 $91,250 $35,766 $88,125

11 12 8 9

$85,161 $96,512 $19,496 $34,231

25th $64,841 $71,445 $6,593 $13,609

50th $88,000 $100,184 $9,606 $30,000

75th $96,800 $120,000 $37,000 $50,000

3 3 1 1

$78,598 $82,810 $6,000 $7,500

25th $74,396 $76,465 $6,000 $7,500

50th $85,500 $87,000 $6,000 $7,500

75th $86,250 $91,250 $6,000 $7,500

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




11 11 8 8

$83,901 $93,786 $28,164 $145,125

25th $71,262 $83,421 $10,145 $13,532

50th $87,000 $87,000 $29,005 $61,023

75th $96,800 $106,878 $40,250 $80,000

8 9 1 2

$67,132 $77,244 $3,793 $18,999

25th $71,275 $75,000 $1,896 $13,499

50th $75,250 $76,420 $3,793 $18,999

75th $80,739 $89,507 $5,689 $24,500

11 11 8 8

$80,776 $92,686 $25,069 $33,174

25th $65,721 $74,380 $6,445 $7,339

50th $76,752 $95,000 $8,231 $16,554

75th $94,280 $103,684 $26,625 $48,856

16 16 8 8

$77,441 $85,942 $19,607 $128,658

25th $67,675 $76,065 $7,404 $8,750

50th $74,600 $83,695 $14,953 $15,754

75th $84,000 $90,880 $29,002 $57,500

9 10 7 8

$86,219 $100,430 $28,779 $42,635

25th $76,048 $84,339 $5,500 $12,081

50th $85,500 $97,934 $8,100 $39,000

75th $100,000 $124,250 $50,009 $56,580

5 5 2 2

$66,694 $73,405 $23,180 $47,020

25th $62,500 $68,000 $16,270 $30,530

50th $75,500 $76,200 $23,180 $47,020

75th $93,600 $100,755 $30,090 $63,510

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Associate



Salary

2017 Base

Salary



Responses 2 2 0 0

$42,435 $42,535 N/A N/A

25th $22,153 $22,303 N/A N/A

50th $42,435 $42,535 N/A N/A

75th $62,718 $62,768 N/A N/A

6 6 5 5

$80,414 $90,644 $19,375 $21,431

25th $65,360 $73,139 $9,606 $13,609

50th $70,321 $85,710 $10,407 $14,040

75th $88,750 $99,316 $19,500 $19,500

5 5 3 3

$73,941 $84,955 $38,060 $57,308

25th $63,293 $65,930 $7,089 $29,712

50th $75,000 $75,000 $7,586 $51,425

75th $79,985 $89,507 $53,793 $81,963

2 3 1 2

$60,534 $93,039 $3,428 $18,428

25th $56,517 $72,058 $1,714 $12,643

50th $60,534 $79,116 $3,428 $18,428

75th $64,550 $107,058 $5,143 $24,214

13 13 7 7

$86,145 $94,467 $29,935 $162,993

25th $75,500 $82,656 $16,750 $29,500

50th $87,000 $87,000 $29,009 $72,045

75th $100,000 $107,000 $43,500 $80,000

19 20 12 13

$84,318 $94,649 $18,255 $28,885

25th $69,284 $78,442 $6,857 $7,998

50th $83,000 $89,753 $9,606 $14,040

75th $96,800 $108,500 $29,000 $48,000

5 5 2 2

$71,216 $78,149 $31,314 $61,735

25th $63,293 $65,930 $18,954 $56,580

50th $76,048 $82,452 $31,314 $61,735

75th $76,752 $82,656 $43,675 $66,890

0 0 0 0

N/A N/A N/A N/A




1 1 1 1

$100,000 $135,000 $100,000 $112,500

25th $100,000 $135,000 $100,000 $112,500

50th $100,000 $135,000 $100,000 $112,500

75th $100,000 $135,000 $100,000 $112,500

0 0 0 0

N/A N/A N/A N/A




Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Associate



Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




6 6 3 3

$80,819 $86,096 $14,790 $288,481

25th $75,142 $83,348 $7,680 $10,770

50th $84,250 $85,695 $9,360 $14,040

75th $86,625 $93,375 $19,185 $428,972

4 4 2 2

$61,874 $66,957 $27,297 $49,713

25th $39,037 $45,020 $16,945 $48,856

50th $62,813 $67,879 $27,297 $49,713

75th $85,650 $89,815 $37,648 $50,569

20 21 12 13

$80,805 $93,428 $25,730 $38,424

25th $68,036 $76,200 $6,857 $9,000

50th $76,400 $89,507 $10,407 $19,500

75th $91,420 $107,000 $37,000 $72,045

2 2 1 1

$65,920 $74,910 $2,000 $2,000

25th $58,960 $67,455 $2,000 $2,000

50th $65,920 $74,910 $2,000 $2,000

75th $72,880 $82,365 $2,000 $2,000

3 3 2 2

$96,187 $111,123 $33,000 $80,000

25th $94,280 $106,684 $31,000 $80,000

50th $100,000 $113,000 $33,000 $80,000

75th $100,000 $116,500 $35,000 $80,000

0 0 0 0

N/A N/A N/A N/A




23 23 12 12

$78,674 $85,831 $15,201 $20,495

25th $65,721 $73,523 $6,445 $7,874

50th $75,500 $83,000 $8,473 $12,808

75th $86,250 $95,250 $12,680 $26,625

1 1 1 1

$76,048 $82,452 $56,035 $72,045

25th $76,048 $82,452 $56,035 $72,045

50th $76,048 $82,452 $56,035 $72,045

75th $76,048 $82,452 $56,035 $72,045

0 0 0 0

N/A N/A N/A N/A




Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


Analyst


22 23 9 10

$72,199 $75,252 $11,233 $14,127

25th $60,235 $61,689 $4,037 $8,928

50th $70,500 $72,100 $8,571 $14,000

75th $83,250 $89,500 $16,310 $18,997

9 10 2 1

$74,285 $75,605 $20,785 $8,571

25th $62,439 $56,843 $14,678 $8,571

50th $70,000 $78,333 $20,785 $8,571

75th $88,900 $91,654 $26,893 $8,571

3 3 1 2

$70,013 $73,680 $13,000 $22,446

25th $66,020 $66,020 $6,500 $20,670

50th $73,000 $73,000 $13,000 $22,446

75th $75,500 $81,000 $19,500 $24,223

5 5 2 3

$72,726 $76,456 $5,140 $15,677

25th $65,000 $68,000 $1,400 $14,000

50th $71,000 $71,000 $2,800 $15,000

75th $76,128 $71,280 $7,710 $17,016

4 4 3 3

$72,788 $79,109 $11,758 $11,758

25th $64,038 $68,909 $7,637 $7,637

50th $77,500 $78,550 $10,000 $10,000

75th $86,250 $88,750 $15,000 $15,000

13 13 5 6

$71,647 $76,406 $11,835 $13,623

25th $62,439 $64,040 $2,637 $8,928

50th $70,000 $73,000 $8,571 $11,500

75th $78,000 $89,000 $18,000 $17,420

6 7 3 3

$79,588 $79,426 $11,807 $18,011

25th $72,282 $69,000 $7,710 $17,016

50th $82,514 $71,280 $12,620 $19,032

75th $89,725 $96,103 $16,310 $19,516

1 1 0 0

$70,000 $72,100 N/A N/A

25th $70,000 $72,100 N/A N/A

50th $70,000 $72,100 N/A N/A

75th $70,000 $72,100 N/A N/A

6 7 1 2

$81,407 $81,363 $10,000 $16,500

25th $67,000 $66,020 $5,000 $14,750

50th $81,500 $73,000 $10,000 $16,500

75th $91,500 $102,500 $15,000 $18,250

10 10 6 6

$65,470 $68,995 $10,324 $12,795

25th $59,155 $61,253 $4,037 $8,928

50th $70,000 $71,140 $8,571 $12,500

75th $74,846 $72,775 $11,310 $17,920

5 5 1 1

$78,050 $83,263 $26,000 $26,000

25th $68,904 $83,666 $26,000 $26,000

50th $78,000 $89,000 $26,000 $26,000

75th $88,900 $92,205 $26,000 $26,000

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Analyst

Responses

Average

Percentiles


Analyst



Salary

2017 Base

Salary



Responses 4 4 2 2

$79,875 $90,250 $23,000 $23,000

25th $73,375 $83,500 $21,500 $21,500

50th $84,000 $94,500 $23,000 $23,000

75th $90,500 $101,250 $24,500 $24,500

8 9 3 3

$71,559 $71,281 $12,105 $15,677

25th $68,750 $68,000 $2,100 $14,000

50th $70,500 $71,280 $7,710 $15,000

75th $76,346 $73,000 $17,715 $17,016

5 5 1 1

$86,581 $89,733 $10,000 $10,000

25th $73,000 $83,666 $10,000 $10,000

50th $85,000 $85,000 $10,000 $10,000

75th $100,000 $97,000 $10,000 $10,000

1 1 0 0

$62,439 $64,040 N/A N/A

25th $62,439 $64,040 N/A N/A

50th $62,439 $64,040 N/A N/A

75th $62,439 $64,040 N/A N/A

3 3 2 3

$48,689 $53,524 $4,615 $10,913

25th $43,514 $50,618 $2,637 $6,923

50th $46,151 $59,040 $5,274 $8,571

75th $52,596 $59,189 $6,923 $13,732

0 0 0 0

N/A N/A N/A N/A




3 3 1 1

$74,146 $78,713 $20,000 $20,000

25th $66,220 $68,070 $20,000 $20,000

50th $70,000 $72,100 $20,000 $20,000

75th $80,000 $86,050 $20,000 $20,000

7 8 3 4

$71,197 $71,337 $11,143 $14,393

25th $62,250 $62,625 $6,428 $9,643

50th $70,000 $70,500 $9,285 $11,500

75th $81,500 $86,000 $14,000 $16,250

7 7 3 3

$70,774 $74,519 $12,105 $17,642

25th $63,972 $65,020 $2,100 $16,946

50th $71,000 $71,280 $7,710 $18,893

75th $76,564 $86,833 $17,715 $18,962

2 2 1 1

$59,576 $66,169 $5,274 $5,274

25th $52,863 $62,753 $5,274 $5,274

50th $59,576 $66,169 $5,274 $5,274

75th $66,288 $69,584 $5,274 $5,274

Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada


Analyst



Salary

2017 Base

Salary



Responses 15 16 7 8

$69,203 $72,135 $10,918 $14,471

25th $60,970 $62,864 $2,800 $9,643

50th $70,000 $71,140 $8,571 $14,000

75th $76,564 $84,000 $12,620 $18,928

3 3 0 0

$93,633 $98,068 N/A N/A

25th $90,450 $94,603 N/A N/A

50th $92,000 $97,000 N/A N/A

75th $96,000 $101,000 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$54,444 $54,444 N/A N/A

25th $54,444 $54,444 N/A N/A

50th $54,444 $54,444 N/A N/A

75th $54,444 $54,444 N/A N/A

0 0 0 0

N/A N/A N/A N/A




12 13 4 4

$77,310 $79,380 $15,514 $14,393

25th $64,360 $67,000 $8,571 $9,643

50th $77,500 $85,000 $10,000 $11,500

75th $89,675 $92,205 $26,000 $16,250

2 2 2 2

$73,564 $71,140 $7,710 $17,016

25th $72,282 $71,070 $5,255 $16,008

50th $73,564 $71,140 $7,710 $17,016

75th $74,846 $71,210 $10,165 $18,024

5 5 1 2

$59,708 $65,717 $2,637 $12,084

25th $54,444 $59,040 $1,319 $8,679

50th $59,040 $59,337 $2,637 $12,084

75th $68,904 $72,100 $3,956 $15,488

14 15 5 6

$73,909 $75,225 $12,884 $15,916

25th $63,079 $61,540 $4,285 $10,750

50th $74,564 $73,000 $10,000 $15,946

75th $83,250 $89,500 $19,310 $18,997

2 2 0 0

$75,750 $86,000 N/A N/A

25th $67,625 $76,500 N/A N/A

50th $75,750 $86,000 N/A N/A

75th $83,875 $95,500 N/A N/A

3 3 2 2

$62,384 $67,479 $4,037 $10,137

25th $58,076 $65,169 $3,419 $7,706

50th $70,000 $71,000 $4,037 $10,137

75th $70,500 $71,550 $4,656 $12,569

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses


Analyst



Salary

2017 Base

Salary



Responses 1 1 1 1

$90,000 $100,000 $20,000 $20,000

25th $90,000 $100,000 $20,000 $20,000

50th $90,000 $100,000 $20,000 $20,000

75th $90,000 $100,000 $20,000 $20,000

5 5 1 1

$76,588 $79,628 $10,000 $10,000

25th $62,439 $67,000 $10,000 $10,000

50th $70,000 $72,100 $10,000 $10,000

75th $85,000 $85,000 $10,000 $10,000

2 2 1 1

$54,890 $62,931 $8,571 $8,571

25th $47,883 $52,563 $8,571 $8,571

50th $54,890 $62,931 $8,571 $8,571

75th $61,897 $73,298 $8,571 $8,571

9 10 5 6

$71,702 $72,716 $11,385 $16,200

25th $65,000 $61,503 $1,400 $13,500

50th $73,000 $71,140 $5,274 $16,946

75th $77,000 $85,000 $19,310 $18,997

3 3 0 0

$71,115 $73,216 N/A N/A

25th $62,222 $63,722 N/A N/A

50th $70,000 $73,000 N/A N/A

75th $79,450 $82,603 N/A N/A

10 11 4 4

$68,447 $72,580 $14,569 $14,685

25th $59,155 $59,189 $5,274 $7,747

50th $71,500 $72,100 $8,571 $13,732

75th $77,750 $89,500 $26,000 $20,670

2 2 1 1

$76,220 $82,020 $20,000 $20,000

25th $69,329 $73,030 $20,000 $20,000

50th $76,220 $82,020 $20,000 $20,000

75th $83,110 $91,010 $20,000 $20,000

1 1 0 0

$70,000 $73,000 N/A N/A

25th $70,000 $73,000 N/A N/A

50th $70,000 $73,000 N/A N/A

75th $70,000 $73,000 N/A N/A

2 2 0 1

$85,500 $89,000 N/A $13,000

25th $75,250 $78,500 N/A $13,000

50th $85,500 $89,000 N/A $13,000

75th $95,750 $99,500 N/A $13,000

2 2 1 1

$76,952 $84,333 $10,000 $10,000

25th $72,928 $84,000 $10,000 $10,000

50th $76,952 $84,333 $10,000 $10,000

75th $80,976 $84,667 $10,000 $10,000

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles


Analyst



Salary

2017 Base

Salary



Responses 4 4 1 1

$97,000 $103,000 $20,000 $20,000

25th $91,500 $99,250 $20,000 $20,000

50th $96,000 $102,500 $20,000 $20,000

75th $101,500 $106,250 $20,000 $20,000

0 0 0 0

N/A N/A N/A N/A




5 5 1 2

$62,263 $63,867 $4,285 $10,785

25th $62,439 $64,040 $2,143 $9,678

50th $65,000 $68,000 $4,285 $10,785

75th $70,000 $72,100 $6,428 $11,893

8 9 4 4

$70,312 $74,972 $14,855 $15,042

25th $59,385 $59,337 $5,274 $8,819

50th $72,952 $83,666 $10,000 $14,446

75th $79,750 $89,000 $26,000 $20,670

5 5 3 3

$65,314 $64,945 $6,907 $13,177

25th $55,000 $55,000 $4,050 $10,250

50th $70,000 $71,000 $5,300 $15,000

75th $71,000 $71,280 $8,960 $17,016

3 3 2 1

$78,333 $82,667 $21,500 $10,000

25th $75,000 $79,000 $15,750 $10,000

50th $77,000 $85,000 $21,500 $10,000

75th $81,000 $87,500 $27,250 $10,000

0 0 0 0

N/A N/A N/A N/A




13 14 3 5

$72,062 $75,577 $7,969 $14,348

25th $59,500 $60,513 $0 $8,571

50th $68,904 $70,050 $5,274 $13,000

75th $88,900 $91,404 $8,571 $18,893

0 0 0 0

N/A N/A N/A N/A




3 3 2 2

$67,191 $65,575 $7,710 $17,016

25th $62,722 $62,722 $5,255 $16,008

50th $71,000 $71,000 $7,710 $17,016

75th $73,564 $71,140 $10,165 $18,024

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles




4 4 1 1

$65,477 $67,045 $5,500 $12,000

25th $54,058 $56,127 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $73,419 $74,919 $5,500 $12,000

2 2 0 0

$70,837 $71,837 N/A N/A

25th $62,919 $64,419 N/A N/A

50th $70,837 $71,837 N/A N/A

75th $78,756 $79,256 N/A N/A

1 1 1 1

$69,000 $71,000 $5,500 $12,000

25th $69,000 $71,000 $5,500 $12,000

50th $69,000 $71,000 $5,500 $12,000

75th $69,000 $71,000 $5,500 $12,000

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

2 2 1 1

$62,000 $64,000 $5,500 $12,000

25th $58,500 $60,500 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $65,500 $67,500 $5,500 $12,000

1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

1 1 1 1

$69,000 $71,000 $5,500 $12,000

25th $69,000 $71,000 $5,500 $12,000

50th $69,000 $71,000 $5,500 $12,000

75th $69,000 $71,000 $5,500 $12,000

2 2 0 0

$70,837 $71,837 N/A N/A

25th $62,919 $64,419 N/A N/A

50th $70,837 $71,837 N/A N/A

75th $78,756 $79,256 N/A N/A

Average

Percentiles

Number of Active

GPs

50 or less

Responses

Average

Percentiles

Between 50 and 100

Responses

Investment Program

Age


Responses

Average

Percentiles


Responses

Average

Percentiles


Average

Percentiles

100 or more

Responses

Average

Percentiles

Responses

Responses

Average

Percentiles

Other

Responses

Average

Percentiles

Organization Type

Public Pension

Responses

Average

Percentiles


Superannuation

Responses

Average

Percentiles



Salary

2017 Base

Salary


Totals/Questions Core Services Analyst

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




3 3 1 1

$70,225 $71,558 $5,500 $12,000

25th $62,000 $64,000 $5,500 $12,000

50th $69,000 $71,000 $5,500 $12,000

75th $77,837 $78,837 $5,500 $12,000

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

2 2 1 1

$62,000 $64,000 $5,500 $12,000

25th $58,500 $60,500 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $65,500 $67,500 $5,500 $12,000

1 1 0 0

$86,674 $86,674 N/A N/A

25th $86,674 $86,674 N/A N/A

50th $86,674 $86,674 N/A N/A

75th $86,674 $86,674 N/A N/A

0 0 0 0

N/A N/A N/A N/A




Number of PE

Professionals

Responsible for

Fund Investing in

Respondent's

Organization

1 or 2 Staff

Responses

Average

Percentiles

3 to 5 Staff

Responses

Average

Percentiles

6 to 10 Staff

Responses

Average

Percentiles

Responses

Average

Percentiles

Over 10 Staff

Responses

Average

Percentiles

Employee Office

Location

USA - Northeast

Responses

Average

Percentiles


Responses

Average

Percentiles

USA - West Coast

Europe

Responses

Average

Percentiles

ROW

Responses

Average

Percentiles

Responses

Average

Percentiles

Canada





Salary

2017 Base

Salary



Responses 1 1 1 1

$69,000 $71,000 $5,500 $12,000

25th $69,000 $71,000 $5,500 $12,000

50th $69,000 $71,000 $5,500 $12,000

75th $69,000 $71,000 $5,500 $12,000

2 2 0 0

$70,837 $71,837 N/A N/A

25th $62,919 $64,419 N/A N/A

50th $70,837 $71,837 N/A N/A

75th $78,756 $79,256 N/A N/A

1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 1 1

$65,477 $67,045 $5,500 $12,000

25th $54,058 $56,127 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $73,419 $74,919 $5,500 $12,000

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




2 2 0 0

$70,837 $71,837 N/A N/A

25th $62,919 $64,419 N/A N/A

50th $70,837 $71,837 N/A N/A

75th $78,756 $79,256 N/A N/A

0 0 0 0

N/A N/A N/A N/A




2 2 1 1

$60,116 $62,254 $5,500 $12,000

25th $55,674 $57,881 $5,500 $12,000

50th $60,116 $62,254 $5,500 $12,000

75th $64,558 $66,627 $5,500 $12,000

Responses

Average

Percentiles

Professional

Designations


Responses

Average

Percentiles

CFA Only

Responses

Average

Percentiles


Designation

Average

Percentiles


Responses

Average

Percentiles

Over 25

Responses

Average

Percentiles

Education

Bachelor's Only

Responses

Average

Percentiles


Responses

Average

Percentiles

16 to 25

Responses

Average

Percentiles

Years of Experience

in Financial

Services

Less than 5

Responses

Average

Percentiles

5 to 10

Responses

Average

Percentiles

11 to 15

Responses





Salary

2017 Base

Salary



Responses 1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$55,000 $57,000 N/A N/A

25th $55,000 $57,000 N/A N/A

50th $55,000 $57,000 N/A N/A

75th $55,000 $57,000 N/A N/A

0 0 0 0

N/A N/A N/A N/A




2 2 1 1

$77,837 $78,837 $5,500 $12,000

25th $73,419 $74,919 $5,500 $12,000

50th $77,837 $78,837 $5,500 $12,000

75th $82,256 $82,756 $5,500 $12,000

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$55,000 $57,000 N/A N/A

25th $55,000 $57,000 N/A N/A

50th $55,000 $57,000 N/A N/A

75th $55,000 $57,000 N/A N/A

0 0 0 0

N/A N/A N/A N/A




1 1 0 0

$51,232 $53,508 N/A N/A

25th $51,232 $53,508 N/A N/A

50th $51,232 $53,508 N/A N/A

75th $51,232 $53,508 N/A N/A

0 0 0 0

N/A N/A N/A N/A




Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles

Fund Gatekeepers


Fund PE AUM is

Outsourced)

0%

Responses

Average

Percentiles

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Over $5B

Responses

Average

Percentiles

Average

Percentiles

$1B - $2B

Responses

Average

Percentiles

PE AUM of

Organization

Less than $250MM

Responses

Average

Percentiles

$250MM - $1B

Responses

$2B - $5B

Responses

Average

Percentiles





Salary

2017 Base

Salary



Responses 0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 1 1

$65,477 $67,045 $5,500 $12,000

25th $54,058 $56,127 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $73,419 $74,919 $5,500 $12,000

0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




0 0 0 0

N/A N/A N/A N/A




4 4 1 1

$65,477 $67,045 $5,500 $12,000

25th $54,058 $56,127 $5,500 $12,000

50th $62,000 $64,000 $5,500 $12,000

75th $73,419 $74,919 $5,500 $12,000

Respondent's

Investment Focus



Responses

Average

Percentiles



Responses

Average

Percentiles


opportunities


making investments

Responses

Average

Percentiles

Responses

Average

Percentiles


Fund opportunities

Responses

Average

Percentiles

Time Devoted to PE

(Respondent's % of

Time)

1-25%

Responses

Average

Percentiles

26-50%

76-100%

Responses

Average

Percentiles

Not Specified

Responses

Average

Percentiles

Responses

Average

Percentiles

51-75%

Responses

Average

Percentiles


2017 lp compensation survey · contents overview..... 3

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