Operating Partner - Private Equity/US
November 28, 2024
At A Glance
Operating Partners play a critical role in driving operational improvements within portfolio companies in the Private Equity space. Understanding their compensation is key to navigating recruitment and retaining top-tier talent for your portfolio companies. Here’s a breakdown of the operating partner compensation data based on assets under management (AUM), as outlined by recent reports.
OPERATING PARTNER COMPENSATION IN PRIVATE EQUITY FIRMS
We gathered insights from 223 Operating Partners working in Private Equity firms. The report breaks down compensation based on firm AUM.
RESPONDENT BREAKDOWN
21% from firms under $500M AUM
50% from firms with $500M–$5B AUM
12% from firms with $5B–$10B AUM
17% from firms with $10B+ AUM
BASE SALARY
Firms < $500M AUM
Median: $300,000
Range: $200,000 – $750,000
Firms $500M–$5B AUM
Median: $325,000
Range: $150,000 – $625,000
Firms $5B–$10B AUM
Median: $425,000
Range: $200,000 – $750,000
Firms $10B+ AUM
Median: $475,000
Range: $225,000 – $1,200,000
Firms $500M–$5B AUM
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Median: $377,400
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Range: $150,000 – $650,000
Firms > $5B AUM
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Median: $429,400
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Range: $225,000 – $900,000
BONUS
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100% of Operating Partners at firms <$500M receive a bonus of 50% or less
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85% at firms $500M–$5B receive a bonus of 50% or less
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78% at firms $5B–$10B receive a bonus of 50% or less
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75% at firms $10B+ receive a bonus of 50% or less
CARRY
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63% of Operating Partners at firms <$500M receive carry or partner share
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66% at firms $500M–$5B receive carry or partner share
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78% at firms $5B–$10B receive carry or partner share
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75% at firms $10B+ receive carry or partner share
KEY TAKEAWAYS
Median salary increases significantly with AUM—up to $475,000 at firms with over $10B
Carry participation remains strong across all AUM brackets
Larger firms lean toward more aggressive comp structures—only 75% at $10B+ firms receive 50% bonus or less
Base salary can reach $1.2M, showing the scale and importance of the Operating Partner role at major funds
GET IN TOUCH
Want to compare your package or looking for a strategic hire?
Contact Alex.Rawlings@Raw-Selection.com
Founder & Managing Partner
All the insights in this salary report are provided from our proprietary data
Raw Selection | De-Risking Executive Search for Private Equity firms across Europe and North America.
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