Anybody have access to the Rhodes 2021 Compensation Survey? I saw a blurb about it in a publication but not the whole report. They conveniently left out associate- level comp.
Their overview showed the following:Total Comp (meant to be read as low range to high range):
MD - $1mm to $1.6mm SVP - $600k - $900k VP - $300k - $500k Analyst - $125k - $175k
EDIT: this is for PE / investment manager firm employees holding acquisitions-focused roles only. I don’t think it includes any carry / participation, but assume the full report would confirm…
Is this "total comp" just cash comp? Does it include any carried interest / promote / long term incentivized comp?
Guessing it doesn't include carry.
Go to their website. You can input your information to get it sent to you.
How long did it take for you to get it after inputting your info?
Still waiting for it.
I submitted my info but never got it…
Need a brokerage comp survey in these reports
Brokerage is tough to gauge, annual comp can range from $0 to $10,000,000.
Yeah Was thinking more for analysts / associates. Comp is all over the board and bonuses ranges often aren’t explicitly stated.
Does this include bonus?
Bonus, no carry.
FYI, I see a lot of questions regarding carry vs. bonus/cash comp. While I didn't fill out this survey... the questions are usually framed such that one may report total cash payout broken into "salary" and "bonus"... so I'd expect some of those bonus reports to reflect cash payout of carry if any occurred or expected given the interval asked about.
Carry (a form of long-term compensation) isn't really much different than a deferred bonus (with amount/award in cash when computed/collected), so if people report total 'income' (which how these surveys want responses), I'd kinda expect most people to put that cash payment in as well (if one was received).
If carry is true 'equity' then two things need to be true (IMHO)... 1. you must be able to keep it if you leave the firm (rare) and 2. you should be able to sell it internally and maybe externally (rarer, but due to no functioning market, but in theory you should be able to sell yours to back to the firm at least if it was a true equity stake). Since these are often not true, people really have a deferred bonus plan with payout based on "carry" in the fund/deals (this isn't bad, as the others often require direct investment even if via salary deferral).
Not trying to hijack the thread but anyone know when the Annual CEL Associates Comp Survey usually comes out?
Also curious…I recall the prior year’s surveys coming out in the fall, but don’t know exact timing.
Just got access to the survey. See below for the breakout....
Owner/Developer - Acquisitions
Analyst (1-3yrs): 85-110 Base -> 15-40 bonus
Associate(3-5yrs): 110-140 Base -> 65-110 bonus
VP(6-10yrs): 150-200 Base -> 150-250 bonus
SVP(10-15yrs): 250-350 Base->250-450 bonus
Private Equity / IM - Acquisitions
Analyst (1-3yrs): 90-115 Base -> 35-60 bonus
Associate(3-5yrs): 115-150 Base -> 60-100 bonus
VP(6-10yrs): 150-250 Base -> 150-250 bonus
SVP(10-15yrs): 300-400 Base->300-500 bonus
The bonus for each position is cash. They don't include expected promote/carry participation other than that it doesn't start until after the 5 yr mark at the earliest
Awesome. Thank you!
I just got access as well. Do you know what "TCC" means in the report?
I wanna say “Total Cash Comp”
Thank you! Were you a previous client or did you just input your email into their website?
Also, do they break out by Fund AUM?
Just filled out my contact info.
No they just broke it out by the two types of firms and then Job Roles and Titles. AUM wasn’t referenced.
I don’t know a single 1st year analyst at a developer making anywhere close to 6 figures. Is this survey just NYC focused?
1st years also not getting paid that in NYC, unless a BB bank or top 50 Repe
I’m a first year analyst at an owner operator making 100 in SF.. those figures are out there for sure.
Is $175K really the lower range for Associates? It might just be that analysts and associates are heavily influenced by SF/NYC, but midwest pay is not close to that. Associate pay around myself is like $130k-$160k all-in, but COL is obviously like half of the major cities.
Would like to know the all-in for associates/senior associates (years of exp.).
https://rhodesassociates.com/compensation-benchmarks/?amp=1
Please see the link to the benchmark summary.
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