About This Survey
In its 7th rendition, the VC Platform Global Community surveyed 775+ individuals for the 2023 VC Platform Global Compensation Survey to better understand compensation, benefits, industry trends, and emerging practices across global venture firms. The survey responses encompass “platform” focused roles. While most roles within this realm can be segmented by area of focus, title, and functional responsibilities, it is important to note that all firms are unique and operate independently.
Through a partnership with Sequoia’s Total Rewards team, VC Platform has to the best of its ability normalized survey responses based on geography, tenure, fund size, fund type, functional role, and various compensation elements. The findings in this report may not align with the standards and practices of every firm. Through the normalization process, VC Platform and Sequoia worked hard to ensure the data and visualizations are meaningful and insightful. This required an intense data-cleaning process, including but not limited to identifying and removing duplicate responses, removing the responses of those that were identified as primarily investment-focused roles, converting global currencies, selectively removing significant outliers within the data set, standardizing geographic locations, removing incomplete responses, and accounting for unique/fill-in-the-blank responses.
Explore Our Past Surveys
Access our historical reports to identify changes and trends in data:
Thank You to Our Partner
We are delighted to work with our community sponsor Sequoia to bring this project to life. Sequoia is a pioneer in total people investment. They help companies master the practice of driving outcomes that matter through their people-focused work on compensation, benefits, wellbeing, HR and payroll, and business protection.
Zack RokosDirector, Compensation Advisory
Joe LaSorteVice President, Global Benefits
Lonnie AbayaCompensation Advisory Consultant
Sam SpiegelmanClient Service Manager, Compensation Advisory
We’d Like to Recognize the Following:
Cory BolotskyBoard Director, VC Platform
Erica AmatoriVP of Platform, Left Lane Capital & Board Director, VC Platform
Joshua GoodfieldExecutive Director, VC Platform
Global Compensation Survey
2023 Individuals From 1,000+ Firms Were Invited to Participate
Representative logos include:
This Report Includes Data From...
705
Respondents
From...2,000+
VC Platform Community Members
Who Took the Survey?
Respondents
Year-over-year survey participation
Gender Identity
Gender identity breakdown of who responded
Titles
What title best matches your own?
- 12%Analyst/Associate (86)
3-6 Years of Experience - 29%Manager/Sr. Associate (207)
6-10 Years of Experience - 29%Director (201)
8-14 Years of Experience - 16%Vice President/Sr. Vice President (110)
12-18 Years of Experience - 14%Partner/CxO (101)
15-25 Years of Experience
Primary Role
Count of what is the primary focus of your role
- 32%Community & Portfolio Support (226)
- 15%Talent & Recruiting (106)
- 22%Marketing, Content , & Events (156)
- 11%Business Development & Partnership (77)
- 13%Internal Operations (92)
- 5%Investor Relations / Fundraising (36)
- 2%Other (12)
Respondents Firm Information
Firm Assets Under Management
- 119 (17%)Less Than $100M USD
- 117 (17%)$100M - $249M USD
- 82 (12%)$250M- $499M USD
- 98 (14%)$500M - $999M USD
- 148 (21%)$1.0Bn - $2.49Bn USD
- 55 (8%)$2.5Bn - $4.9Bn USD
- 77 (10%)More than $5.0Bn USD
- 9 (1%)Other
Fund Type
- 563 (80%)Venture Capital Firm
- 45 (6%)Corporate Venture Capital Firm
- 74 (10%)Growth/Private Equity
- 23 (4%)Other
Investment Stage
- 34 (5%)Pre-Seed
- 415 (59%)Early Stage: Seed → Series B
- 36 (5%)Growth Stage: Series B → Series D
- 213 (30%)Multi Stage
- 7 (1%)Other
Respondents Geography
+9%
YoY increase in US respondents
+38%
YoY increase in European respondents
+30%
YoY increase for across all other regions' respondents
Filters Selected
- United States
- Manager
- Years of Exp: 14-25+
Clear
Current Dataset Profile
--
Survey Participants
--
Avg Total Years of Prof Experience
Firm AUM Breakdown
- 8 (35%)Business Development
- 8 (15%)Business Development
- 8 (25%)Business Development
- 8 (25%)Business Development
- 8 (25%)Business Development
- 8 (25%)Business Development
Cash Compensation
| Market Data Percentiles | ||||||
| 10th | 25th | 50th | 75th | 90th | ||
| Base Salary | -- | -- | -- | -- | -- | |
| Bonus | -- | -- | -- | -- | -- | |
| Total Cash | -- | -- | -- | -- | -- | |
Carry Eligibility
- 8 (35%)Business Development
- 8 (15%)Business Development
- 8 (25%)Business Development
Carry
| Market Data Percentiles | ||||||
| 10th | 25th | 50th | 75th | 90th | ||
| Total Dollars at Work | -- | -- | -- | -- | -- | |
| Max Fund Dollars at Work | -- | -- | -- | -- | -- | |
| Carry % (Max if Mult. Funds) | -- | -- | -- | -- | -- | |
Trends & Analysis
Base Salary Compensation Trends by Firm AUM
For categories without data displayed we do not have enough data points to represent trends. Use the compensation calculator to better understand these trends.
Base Salary Compensation Trends by Firm Function
Base Salary Compensation Trends by Firm Function
For categories without data displayed we do not have enough data points to represent trends. Use the compensation calculator to better understand these trends.
How does compensation vary between functions?
"This will depend on how your own firm manages compensation. For example, some firms will manage all associate level salaries within the Platform organization in one range, regardless of specialty. You are most likely to see this at large firms. Others will breakout salary ranges by both level and specialty, and sometimes by each individual job. The net result is you do see differences in pay by specialty when you look at the overall market, but your firm may not actually administer pay in this way."
Sam SpiegelmanClient Service Manager, Compensation Advisory
Bonus Compensation
Bonus as a Percentage of Base Salary
74.1%
Of Respondents Receive a Bonus
74.1%
Of Respondents Receive a Bonus
74.1%
Of Respondents Receive a Bonus
74.1%
Of Respondents Receive a Bonus
74.1%
Of Respondents Receive a Bonus
74.1%
Of Respondents Receive a Bonus
- 27%0-10% of base compensation
- 34%10-20% of base compensation
- 19%20-30% of base compensation
- 7%30-40% of base compensation
- 6%40-50% of base compensation
- 7%50%+ of base compensation
- 57%0-10% of base compensation
- 20%10-20% of base compensation
- 10%20-30% of base compensation
- 0%30-40% of base compensation
- 5%40-50% of base compensation
- 8%50%+ of base compensation
How is Your Bonus Payout Determined?
- 31%0-10% of base compensation
- 37%10-20% of base compensation
- 16%20-30% of base compensation
- 9%30-40% of base compensation
- 4%40-50% of base compensation
- 3%50%+ of base compensation
How is Your Bonus Payout Determined?
- 28%0-10% of base compensation
- 38%10-20% of base compensation
- 19%20-30% of base compensation
- 5%30-40% of base compensation
- 5%40-50% of base compensation
- 5%50%+ of base compensation
How is Your Bonus Payout Determined?
- 17%0-10% of base compensation
- 33%10-20% of base compensation
- 21%20-30% of base compensation
- 9%30-40% of base compensation
- 13%40-50% of base compensation
- 7%50%+ of base compensation
How is Your Bonus Payout Determined?
- 7%0-10% of base compensation
- 29%10-20% of base compensation
- 29%20-30% of base compensation
- 11%30-40% of base compensation
- 5%40-50% of base compensation
- 19%50%+ of base compensation
How is Your Bonus Payout Determined?
How are bonus payments trending?
"Bonuses across all industries are not quite what they used to be largely due to the macroeconomic headwinds we all know well. Whereas in prior years bonuses were consistently paid out at or above target for those that received one, this year bonuses have been paid out at 80% of target on average. Furthermore, of those that were eligible for a bonus, roughly 30% of those employees did not receive a bonus."
Zack RokosDirector, Compensation Advisory
Carry Trends
Carry Trends by Title
Carry Trends by Title & Firm
For categories without data displayed we do not have enough data points to represent trends. Use the compensation calculator to better understand these trends.
Carry Questions
When you INITIALLY joined your firm, what fund(s) were you awarded carry in?
- 13%I was awarded carry in the TWO most recently raised active funds at my firm upon joining (49)
- 19%I was not awarded carry in any funds at my firm upon joining (72)
- 51%I was awarded carry in the ONE most recently raised active fund at my firm upon joining (190)
- 13%I was awarded carry in ALL active funds at my firm upon joining, including historic funds (47)
- 2%Other (7)
- 2%N/A - when I joined my firm they had not yet raised any funds (9)
Do you contribute capital towards your portion of carried interest?
- 76%No (286)
- 5%Yes, using pre-tax income (19)
- 13%Yes, using after-tax income (50)
- 6%Yes, but using a loan from my fund (22)
Carry Vesting Practices
Vesting Method
- 46%Straight-line/linear vesting with a cliff (149)
- 27%Straight-line/linear vesting with no cliff (86)
- 11%Other (non-linear vesting)
(36) - 16%I’m not sure
(50)
Cliff Vesting Practices
- 8%N/A - No Cliff (16)
- 65%12 Months (125)
- 3%18 Months (5)
- 15%24 Months (29)
- 4%36 Months (8)
- 5%Other
(10)
Vesting Schedule
Vesting Method VS. Length
| Straight Line | Non-Linear | ||
|---|---|---|---|
| 1-3 Years | 31 (97%) | 1 (3%) | |
| 4 Years | 56 (97%) | 2 (3%) | |
| 5 Years | 54 (93%) | 4 (7%) | |
| 6-7 Years | 56 (98%) | 1 (2%) | |
| 8-9 Years | 31 (89%) | 4 (11%) | |
| 10 Years | 56 (73%) | 21 (27%) | |
How does carry allocation adjust with firm growth?
"Carry is complex in and of itself and is further complicated by the fact that each program is unique. If you are confused about how your carry program works, the best thing you can do is ask your finance team. You can also leverage the Carry Calculator to estimate the potential value of your carry as well as the survey to understand how your opportunity compares to market"
Zack RokosDirector, Compensation Advisory
How are benefits offerings changing for employees?
"As employers look to move past the economic constraints of the last few years, many are reactivating postponed plans for global expansion and investing more in countries where they already operate. Benefits play an important role in this, especially in terms of attracting, motivating, and retaining key talent to support this expansion. Controlling costs is still a key concern, but achieving strategic consistency in benefit provision across country borders while maintaining local compliance and local market competitiveness is increasingly important. Wellbeing benefits continue to grow in popularity in the roster of benefits provided by global companies. There’s also more focus on implementing globally consistent approaches to benefits administration, particularly with respect to areas impacting the employee experience such as plan enrollment, communication, and personalized employee support."
Joe LaSorteVice President, Global Benefits
Remote Work
How many days do you work in your office?
United States
- 33%Fully Remote
(145) - 48%1-3 days per week in the office (211)
- 19%4 - 5 days per week in the office (80)
Europe
- 19%Fully remote
(32) - 45%1- 3 days per week in the office (73)
- 36%4 - 5 days per week in the office (59)
Parental Leave
Does your firm have a parental leave policy?
If Yes, Does It Cover Both Parents or Primary Caregiver?
How Long Does the Primary Caregiver Receive Full Salary?
- 9%1 Month
(24) - 6%2 Months
(16) - 39%3 Months
(105) - 25%4 Months
(67) - 7%5 Months
(19) - 14%6+ Months
(38)
How Long Does the Secondary Caregiver Receive Full Salary?
- 43%1 Month (75)
- 14%2 Months (24)
- 18%3 Months (31)
- 16%4 Months (27)
- 2%5 Months (4)
- 7%6+ Months (13)
Does your firm have a parental leave policy?
If Yes, Does It Cover Both Parents or Primary Caregiver?
How Long Does the Primary Caregiver Receive Full Salary?
- 9%1 Month
(16) - 8%2 Months
(14) - 45%3 Months
(80) - 28%4 Months
(50) - 4%5 Months
(8) - 6%6+ Months
(10)
How Long Does the Secondary Caregiver Receive Full Salary?
- 46%1 Month (56)
- 11%2 Months (14)
- 24%3 Months (29)
- 16%4 Months (19)
- 2%5 Months (2)
- 2%6+ Months (2)
Does your firm have a parental leave policy?
If Yes, Does It Cover Both Parents or Primary Caregiver?
How Long Does the Primary Caregiver Receive Full Salary?
- 10%1 Month
(5) - 2%2 Months
(1) - 18%3 Months
(9) - 20%4 Months
(10) - 8%5 Months
(4) - 42%6+ Months
(21)
How Long Does the Secondary Caregiver Receive Full Salary?
- 40%1 Month (12)
- 10%2 Months (3)
- 3%3 Months (1)
- 17%4 Months (5)
- 0%5 Months (0)
- 30%6+ Months (9)
Does your firm have a parental leave policy?
If Yes, Does It Cover Both Parents or Primary Caregiver?
How Long Does the Primary Caregiver Receive Full Salary?
- 0%1 Month
(0) - 0%2 Months
(0) - 27%3 Months
(3) - 0%4 Months
(0) - 64%5 Months
(7) - 9%6+ Months
(1)
How Long Does the Secondary Caregiver Receive Full Salary?
- 0%1 Month (0)
- 78%2 Months (7)
- 11%3 Months (1)
- 0%4 Months (0)
- 0%5 Months (0)
- 11%6+ Months (1)
Does your firm have a parental leave policy?
If Yes, Does It Cover Both Parents or Primary Caregiver?
How Long Does the Primary Caregiver Receive Full Salary?
- 10%1 Month
(3) - 3%2 Months
(1) - 17%3 Months
(5) - 13%4 Months
(4) - 10%5 Months
(3) - 47%6+ Months
(14)
How Long Does the Secondary Caregiver Receive Full Salary?
- 45%1 Month (9)
- 10%2 Months (2)
- 5%3 Months (1)
- 10%4 Months (2)
- 0%5 Months (0)
- 30%6+ Months (6)