Some 54% of private equity executives reported that their base salary increased in 2017 compared to 2016, down slightly from 57% of executives reporting a base salary increase last year, according to the findings of an annual survey by executive recruiter Heidrick & Struggles.
Of those executives who reported a salary increase, 75% of them indicated an increase of 20% or less, with 44% of them receiving a raise of up to 10% and 31% reporting a raise of 11% to 20%.
Some 20% of executives received a raise of 21% to 50%, and 5% of survey respondents received a raise of more than 50%. Last year, 54% of survey respondents reported a raise of up to 20%, 35% received 21% to 50% and 11% experienced a raise of more than 50%.
Associates and senior associates experienced the largest base salary increase with 14% growth to $125,000, followed by vice presidents with an increase of 13% to $198,000. While principals experienced a 6% increase, base salaries for partners/managing directors and managing partners remained stagnant in 2017.
About 600 private equity executives responded to this year's survey, which was conducted in June.