Compensation Guide
Updated on Sep 07, 2025

Private Equity (PE) is one of the most coveted industries in finance. One of the highest paying industries, Private Equity (PE) attracts absolute creme-de-la-creme of MBA graduates, management consultants, and investment bankers. Also highly competitive, PE funds hire only a handful of investment professionals across levels in a year. 

A+ research team has spoken to multiple PE professionals across domestic and global PE funds in India. In the table below, we have compiled average base compensation, variable (bonus) and carry components at blue chip global PE funds in India.

  Role Yrs of exp Large Global PE Funds (base salary) Bonus (as a % of base) Carry
  Analyst 0-3 yrs pre MBA $60K-$80K 60-100%
Notional Carry or LTI or Certain bonus is paid in the form of carry distribution in case of multi-billion dollar funds*
  Associate MBA with 4-6 yrs exp $100K-$150K 80-100%
  VP MBA with 6-10 yrs exp $200K- $250K 90-120%
Estimated 0.5%-2% of the carry pool for a multi billion dollar fund*
  Principal MBA with 7-10yrs exp $300K-$400K 90-120%
  MD   $500K+ 100-150%  
           
  Notes:
These figures are estimates of salaries at top global PE funds like Bain, Carlyle, TPG, Warburg Pincus, General Atlantic and the likes
   
Buyout focused funds have 30-50% higher base salaires and respective bonuses
   
*These are estimates from the information gathered through our network; might change/vary with more data

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