Rhodes 2021 Compensation Survey

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 forPE/ 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…

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Comments (35)

2021年9月22日- 4:58pm
CAGRator, what's your opinion? Comment below:

Is this "total comp" just cash comp? Does it include any carried interest / promote / long term incentivized comp?

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  • VPinRE - Comm
Sep 24, 2021 - 12:15pm

Brokerage is tough to gauge, annual comp can range from $0 to $10,000,000.

  • Analyst 3+inRE - Comm
9月24日,2021 - 2:09 PM

Yeah Was thinking more for analysts / associates. Comp is all over the board and bonuses ranges often aren't explicitly stated.

Sep 28, 2021 - 9:32am
redever, what's your opinion? Comment below:

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.

带(一种长期补偿)并不是意图lly 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).

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  • Associate 2inRE - Comm
Sep 29, 2021 - 12:42pm

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

助理(3-5岁):115-150基础 - > 60-100奖金

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

Sep 29, 2021 - 6:17pm
TangibilityFactor, what's your opinion? Comment below:

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?

Nov 9, 2021 - 9:54am
Jimhoffa, what's your opinion? Comment below:

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