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COMPENSATION OF LEGAL AND COMPLIANCE PROFESSIONALS AT ALTERNATIVE ASSET MANAGERS 2023 (2022 DATA SET)

Table of Contents

IntroductionSummaryGeneral CounselAssociate General CounselChief Compliance Officer

Introduction

For nearly two decades, we have been conducting a survey on compensation levels for legal and compliance professionals at alternative managers. Until recently, we collected most of the data through phone interviews. However, due to increased participation, we transitioned to an online form on our secure website.

Over the years, legal departments and compensation structures have undergone significant changes. We took this opportunity to expand the scope of the survey to include additional variables, such as years in BigLaw, strategy, department size and vesting periods. In the spring, we will publish an analysis examining the relationship between compensation and these new variables.

This study provides ranges, medians, quartiles and deciles for total compensation (base salary + cash bonus + deferred compensation + equity) earned in 2022 across a variety of variables. Participants include General Counsel, Associate General Counsel and Chief Compliance Officers of alternative asset managers, including hedge funds, fund of funds, private equity funds, venture funds, family offices and the alternative asset management divisions of major asset managers and financial institutions. Participants work in major markets, including the New York Tri-State Area, Boston, Chicago, Washington DC, Northern/Southern California and London. The majority of data comes from professionals in NYC.

It's important to note that participation in the survey is voluntary, which may skew the results towards the lower end of the compensation spectrum. We know of many highly paid professionals who would fall into (or above) the top decile and do not participate. Therefore, the upper ranges of industry compensation levels are likely higher than reported here.

THIS DOCUMENT HAS ALWAYS BEEN PROVIDED FREE OF CHARGE TO THOSE WHO CONTRIBUTE DATA, AND PARTICIPANTS HAVE BEEN ASKED NOT TO SHARE THE SURVEY WITH NON-CONTRIBUTERS, THE IDEA BEING THAT THE MORE DATA WE CAN GATHER, THE MORE USEFUL THE SURVEY WILL BE. TO DISCOURAGE SHARING, THE SURVEY IS BEING CIRCULATED ON A SECURE WEBSITE. REQUESTS FOR HARD COPIES WILL BE EVALUATED INDIVIDUALLY.

Summary - All Job Categories

SampleLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

All GC

GC

GC/CCO

  • 154
  • 59
  • 95
  • $285,000
  • $360,250
  • $285,000
  • $500,000
  • $590,000
  • $470,000
  • $650,000
  • $712,500
  • $600,000
  • $915,000
  • $1,000,000
  • $890,000
  • $1,450,000
  • $1,425,000
  • $1,325,000
  • $2,000,000
  • $2,025,000
  • $1,900,000
  • $4,700,000
  • $4,450,000
  • $4,700,000

ALL AGC

AGC

AGC/CCO

  • 110
  • 85
  • 25
  • $125,000
  • $125,000
  • $260,000
  • $300,000
  • $300,000
  • $385,000
  • $420,000
  • $400,000
  • $570,000
  • $580,000
  • $565,000
  • $700,000
  • $725,000
  • $685,000
  • $800,000
  • $1,100,000
  • $995,000
  • $1,500,000
  • $2,875,000
  • $2,875,000
  • $1,800,000

All CCO

CCO

AGC/CCO

GC/CCO

  • 166
  • 46
  • 25
  • 95
  • $170,000
  • $170,000
  • $260,000
  • $285,000
  • $377,500
  • $310,000
  • $385,000
  • $470,000
  • $526,500
  • $385,000
  • $570,000
  • $600,000
  • $757,500
  • $605,000
  • $700,000
  • $890,000
  • $1,200,000
  • $1,011,000
  • $810,000
  • $1,325,000
  • $1,700,000
  • $1,300,000
  • $1,500,000
  • $1,900,000
  • $4,700,000
  • $3,900,000
  • $1,800,000
  • $4,700,000

General Counsel

Entire GroupingSampleLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

All GC

GC

GC/CCO

  • 154
  • 59
  • 95
  • $285,000
  • $360,250
  • $285,000
  • $500,000
  • $590,000
  • $470,000
  • $650,000
  • $712,500
  • $600,000
  • $915,000
  • $1,000,000
  • $890,000
  • $1,450,000
  • $1,425,000
  • $1,325,000
  • $2,000,000
  • $2,025,000
  • $1,900,000
  • $4,700,000
  • $4,450,000
  • $4,700,000
By ExperienceSampleGCGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

16 Years or More

15 Years or Less

  • 120
  • 34
  • 46
  • 13
  • 74
  • 21
  • $340,000
  • $285,000
  • $525,000
  • $440,000
  • $708,250
  • $545,500
  • $980,000
  • $750,000
  • $1,500,000
  • $1,075,000
  • $2,155,000
  • $1,572,500
  • $4,700,000
  • $2,000,000
By AssetsSampleGCGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

$20Bn and Over

$5Bn to < $20Bn

Under $5Bn

  • 21
  • 48
  • 85
  • 13
  • 18
  • 28
  • 8
  • 30
  • 57
  • $455,000
  • $340,000
  • $285,000
  • $520,000
  • $635,000
  • $485,000
  • $635,000
  • $910,000
  • $600,000
  • $975,000
  • $1,262,500
  • $800,000
  • $1,500,000
  • $1,700,000
  • $1,025,000
  • $2,100,000
  • $2,350,000
  • $1,805,000
  • $3,000,000
  • $4,700,000
  • $4,450,000
By TypeSampleGCGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

Hedge

PE/Venture

Blended

  • 77
  • 29
  • 48
  • 27
  • 8
  • 24
  • 50
  • 21
  • 24
  • $285,000
  • $360,000
  • $345,000
  • $510,000
  • $445,000
  • $515,000
  • $650,000
  • $600,000
  • $750,000
  • $890,000
  • $1,000,000
  • $1,000,000
  • $1,250,000
  • $1,625,000
  • $1,400,000
  • $1,720,000
  • $2,450,000
  • $2,150,000
  • $4,450,000
  • $4,700,000
  • $3,750,000
By LocationSampleGCGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

NY Metro/CA

Elsewhere

  • 127
  • 27
  • 51
  • 8
  • 76
  • 19
  • $285,000
  • $340,000
  • $500,000
  • $448,500
  • $657,500
  • $565,000
  • $950,000
  • $834,000
  • $1,475,000
  • $1,090,000
  • $2,020,000
  • $1,520,000
  • $4,700,000
  • $3,900,000

Associate General Counsel

Entire GroupingSampleLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

ALL AGC

AGC

AGC/CCO

  • 110
  • 85
  • 25
  • $125,000
  • $125,000
  • $260,000
  • $300,000
  • $300,000
  • $385,000
  • $420,000
  • $400,000
  • $570,000
  • $580,000
  • $565,000
  • $700,000
  • $725,000
  • $685,000
  • $810,000
  • $1,100,000
  • $995,000
  • $1,500,000
  • $2,875,000
  • $2,875,000
  • $1,800,000
By ExperienceSampleAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

16 Years or More

15 Years or Less

  • 47
  • 63
  • 35
  • 50
  • 12
  • 13
  • $240,000
  • $125,000
  • $395,000
  • $265,000
  • $525,000
  • $390,000
  • $700,000
  • $525,000
  • $870,000
  • $670,000
  • $1,260,000
  • $800,000
  • $2,875,000
  • $1,800,000
By AssetsSampleAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

$20Bn and Over

$5Bn to < $20Bn

Under $5Bn

  • 71
  • 29
  • 10
  • 62
  • 17
  • 6
  • 9
  • 12
  • 4
  • $175,000
  • $180,000
  • $125,000
  • $340,000
  • $260,000
  • $195,000
  • $422,500
  • $450,000
  • $395,000
  • $620,000
  • $580,000
  • $417,500
  • $775,000
  • $680,000
  • $650,000
  • $1,200,000
  • $850,000
  • $715,000
  • $2,875,000
  • $1,750,000
  • $850,000
By TypeSampleAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

Hedge

PE/Venture

Blended

  • 30
  • 15
  • 65
  • 15
  • 10
  • 60
  • 15
  • 5
  • 5
  • $125,000
  • $205,000
  • $175,000
  • $265,000
  • $285,000
  • $335,000
  • $412,500
  • $528,000
  • $420,000
  • $570,000
  • $715,000
  • $575,000
  • $675,000
  • $985,000
  • $705,000
  • $817,000
  • $1,450,000
  • $1,100,000
  • $2,875,000
  • $1,750,000
  • $2,100,000
By LocationSampleAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

NY Metro/CA

Elsewhere

  • 87
  • 23
  • 64
  • 21
  • 23
  • 2
  • $175,000
  • $125,000
  • $341,000
  • $245,000
  • $467,500
  • $345,000
  • $600,000
  • $437,000
  • $722,000
  • $717,500
  • $1,144,000
  • $898,000
  • $2,875,000
  • $1,750,000

Chief Compliance Officer

Entire GroupingSampleLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

All CCO

CCO

AGC/CCO

GC/CCO

  • 166
  • 46
  • 25
  • 95
  • $170,000
  • $170,000
  • $260,000
  • $285,000
  • $377,500
  • $310,000
  • $385,000
  • $470,000
  • $526,500
  • $385,000
  • $570,000
  • $600,000
  • $757,500
  • $605,000
  • $700,000
  • $890,000
  • $1,200,000
  • $1,011,000
  • $810,000
  • $1,325,000
  • $1,700,000
  • $1,300,000
  • $1,500,000
  • $1,900,000
  • $4,700,000
  • $3,900,000
  • $1,800,000
  • $4,700,000
By ExperienceSampleCCOAGC/CCOGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

16 Years or More

15 Years or Less

  • 122
  • 44
  • 36
  • 10
  • 12
  • 13
  • 74
  • 21
  • $170,000
  • $230,000
  • $391,000
  • $352,000
  • $585,000
  • $475,000
  • $805,000
  • $585,000
  • $1,245,000
  • $1,030,000
  • $1,745,000
  • $1,617,500
  • $4,700,000
  • $2,000,000
By AssetsSampleCCOAGC/CCOGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

$20Bn and Over

$5Bn to < $20Bn

Under $5Bn

  • 30
  • 51
  • 85
  • 13
  • 9
  • 24
  • 9
  • 12
  • 4
  • 8
  • 30
  • 57
  • $265,000
  • $260,000
  • $170,000
  • $520,000
  • $500,000
  • $348,500
  • $715,000
  • $615,000
  • $465,000
  • $880,000
  • $950,000
  • $650,000
  • $1,340,000
  • $1,410,000
  • $900,000
  • $1,825,000
  • $1,700,000
  • $1,390,000
  • $3,900,000
  • $4,700,000
  • $3,750,000
By TypeSampleCCOAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

Hedge

PE/Venture

Blended

  • 83
  • 37
  • 46
  • 18
  • 11
  • 17
  • 15
  • 5
  • 5
  • 50
  • 21
  • 24
  • $170,000
  • $230,000
  • $260,000
  • $350,000
  • $405,000
  • $445,000
  • $524,000
  • $600,000
  • $535,000
  • $700,000
  • $830,000
  • $842,500
  • $980,000
  • $1,625,000
  • $1,300,000
  • $1,480,000
  • $2,750,000
  • $1,725,000
  • $2,150,000
  • $4,700,000
  • $3,750,000
By LocationSampleCCOAGCAGC/CCOLowBottom DecileBottom QuartileMedianTop QuartileTop DecileHigh

NY Metro/CA

Elsewhere

  • 135
  • 31
  • 36
  • 10
  • 23
  • 2
  • 76
  • 19
  • $170,000
  • $230,000
  • $390,000
  • $345,000
  • $550,000
  • $445,000
  • $800,000
  • $600,000
  • $1,262,500
  • $992,500
  • $1,700,000
  • $1,387,000
  • $4,700,000
  • $3,900,000

Compensation Survey Results

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    Founded by David Claypoole, Claypoole Search (formerly Parks Legal Placement) is the premier executive search firm recruiting lawyers and compliance professionals for registered investment advisors and other alternative asset managers – including private equity, venture, hedge funds, and family offices.

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