Canadian PE Comp Thread 2026
It has been a while since I saw one of these, and Canadian PE comp tends to be a bit of a black hold. Would love to get a check on the market across levels (but mostly Analyst through VP).
There are also a lot of newer LMM GPs (Alphi, Vertu, Alcorn, etc.) that have popped up in recent years and have been expanding their teams. Curious if anyone has comp structure for those as well.
If you have credible intel, please state:
- Firm
- Position
- Comp (Base + Bonus + carry)
bump
I'll get it started
HOOP
Senior Associate
135-140K Base
45% Bonus target (up to 2x multiplier)
LTIP is 10% (up to 3x)
+ DB
HOOP
Principal
160K Base
75% Bonus target (same multiplier)
35% LTIP (same multiplier)
+ DB
oof
wait so upper bound is 270 for a senior associate??
OTPP
Associate
140K base (+10k/year)
30-70% bonus
+ DB
OTPP
Principal
170K base (+50-100% bonus) (maybe a bit higher now)
+ LTIP
+ DB
damn, seems kinda low for associate. how much is the DB really worth?
Mid Market Infra, Associate 1, 145k base, 55% bonus, ~15k-20k of deferred comp
Tier 1 pension
First/second year VP
~$200k base
~$300-350k bonus (including LTIP)
Is this right after Associate or with a title in between?
How many YOE in relevant role? Thank you for the helpful comment.
How does LTIP work?
5 year vest and then payout based on fund performance (relative to benchmark hurdle)...some pensions might do 3 years but I think it's typically 5.
USD or CAD figures? If USD this looks decent tbh
Instead of MS, could someone clarify the currency? Being paid 250k USD as an Asso at a co-investment shop ain’t bad at all.
This is a Canadian thread. We are talking about Canadian funds. I would assume that the figures are in CAD.
Stupid question dude - why would anyone be quoting USD?
Fuck this I’m moving to the states 💀
Novacap I don’t have numbers but have pay is ass with delayed promotion timelines.
Altas pays MF equivalent pay but in CAD so new associates clear $400K CAD. You work for it though.
So it ain’t equivalent, if you want Zimbabwe capital pays you 1m but in Zimbabwe dollar, you do work for it though.
Love the random coping on currencies, people do the same with GBP this side of the pond.
Just to clarify what that person actually meant, they pay UMM / MF comp in USD to their Toronto team (since pay is equal across NY and TO), and then the TO people can then think of it as ~36% higher than that if they so wish when thinking about the currency they live in (CAD)
Can anyone who is familiar with the Pensions comment on how the DB plan actually works? Just using Teachers as an example, the NEO's expected annual pension value feels really high given my general understanding of how the plans would be calculated (e.g., 2% x Pensionable Earnings x Years of Service). Gillian for example has a salary of $475k but an expected annual pension benefit of $474k (vs. 2% x $475k * 41 = $390k). I would have expected the pensionable earnings for the SERP plan to be base salary only but rough math would suggest that is very not true, or the actuarial estimate for annual pension is just very far off of reality I guess. If anyone has any real data around how to calculate pensionable earnings for purposes of these DB plans, that would be super interesting to hear about. Or really any general info on the size of these pensions for the investment professionals when they retire would be good to understand.
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