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COMPENSATION OF LEGAL AND COMPLIANCE PROFESSIONALS AT ALTERNATIVE ASSET MANAGERS 2025 (2024 DATA SET)

Introduction

This study provides medians and quartiles for total compensation (base salary + cash bonus + deferred compensation + equity) and cash compensation (base salary + cash bonus + deferred compensation) earned by legal and compliance professionals at alternative managers in 2024 across a variety of variables.

423 General Counsels, Associate General Counsels and Chief Compliance Officers participated in the study. The managers they work for span private equity funds, private credit funds, venture funds, hedge funds, blended funds, funds of funds, family offices and the alternative asset management divisions of major financial institutions.

The results speak for themselves.

If you'd like to speak to me or someone in our office, email [email protected].

Regards,
David Claypoole

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

2024 Dataset

General Counsel

Sample SizeBottom QuartileMedianTop Quartile

All

195$900,000$1,300,000$2,000,000
$750,000$984,500$1,450,000

GC

92$905,000$1,300,000$1,921,500
$775,000$1,000,000$1,506,000

GC/CCO

103$875,000$1,345,000$2,100,000
$725,000$950,000$1,400,000

Associate General Counsel

Sample SizeBottom QuartileMedianTop Quartile

All

168$441,300$599,500$850,000
$440,000$572,400$752,500

AGC

146$425,000$561,500$785,000
$425,000$549,130$750,000

AGC/CCO

22$695,000$815,000$1,290,000
$570,000$700,000$900,000

Chief Compliance Officer

Sample SizeBottom QuartileMedianTop Quartile

All

184$697,500$1,015,000$1,722,500
$590,650$778,000$1,145,000

CCO

59$540,000$725,000$1,151,000
$450,000$650,000$800,000

AGC/CCO

22$695,000$815,000$1,290,000
$570,000$700,000$900,000

GC/CCO

103$875,000$1,345,000$2,100,000
$725,000$950,000$1,400,000

KEY

Total Compensation = Cash Base + Cash Bonus + Deferred Cash + Equity

Cash Compensation = Cash Base + Cash Bonus + Deferred Cash

General Counsel

All Job Categories

2024 Dataset

By Role

Sample SizeBottom QuartileMedianTop Quartile

All GC

195$900,000$1,300,000$2,000,000
$750,000$984,500$1,450,000

GC

92$905,000$1,300,000$1,921,500
$775,000$1,000,000$1,506,000

GC/CCO

103$875,000$1,345,000$2,100,000
$725,000$950,000$1,400,000

By Experience

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

All GC 20 Years or More

1115754$950,000$1,352,500$2,000,000
$800,000$1,145,000$1,600,000

All GC < 20 Years

843549$789,750$1,200,000$2,014,000
$682,500$890,625$1,200,000

By Assets

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

All GC $20Bn and Over

342212$1,250,000$2,025,000$3,000,000
$970,000$1,600,000$2,385,000

All GC $5Bn to $19Bn

743440$1,025,000$1,475,000$2,000,000
$812,500$1,092,500$1,387,500

All GC $2Bn to $5Bn

542232$800,000$1,137,500$1,775,000
$700,000$890,625$1,300,000

All GC Under $2Bn

331419$672,000$1,000,000$1,215,000
$625,000$800,000$950,000

By L&C Department Size

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

All GC L&C>=10

22157$1,430,000$2,050,000$3,000,000
$970,000$1,600,000$2,200,000

All GC L&C 5-10

342410$1,025,000$1,500,000$2,250,000
$875,000$1,175,000$1,512,000

All GC L&C 3-4

462224$1,000,000$1,386,357$1,950,000
$881,250$1,127,500$1,500,000

All GC L&C=2

522032$825,000$1,200,000$1,775,000
$700,000$915,000$1,287,500

All GC L&C=1

411130$672,000$1,030,000$1,750,000
$575,000$750,000$984,500

By Law School Ranking

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

Top 25

1065452$925,000$1,410,107$2,000,000
$765,000$1,000,000$1,500,000

Other

893851$900,000$1,250,000$1,950,000
$725,000$975,000$1,352,500

By Fund Type

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

Hedge

712546$800,000$1,240,000$1,943,000
$750,000$975,000$1,500,000

PE/Venture

521834$927,100$1,385,107$2,175,000
$700,000$885,000$1,152,500

Blended

724923$965,000$1,340,000$1,965,000
$850,000$1,080,000$1,575,000

By Location

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

California

241113$937,500$1,250,000$2,075,000
$700,000$960,000$1,250,000

New York Metro Core

1135063$925,000$1,350,000$2,000,000
$850,000$1,145,000$1,639,500

Northeast / Mid-Atlantic

261214$929,200$1,401,250$1,950,000
$700,000$1,000,000$1,387,500

Southern / Central / Interior U.S./Other

321913$720,000$1,182,123$1,835,000
$520,000$738,623$975,000

By Training Practice Area

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

Corporate/Transactional/Finance

824537$1,000,000$1,500,000$2,000,000
$775,000$1,037,500$1,525,000

Funds/Investment Management/Regulatory

783741$900,000$1,315,000$1,900,000
$750,000$970,000$1,370,000

Non-AmLaw 100

351025$650,000$1,000,000$2,200,000
$610,000$850,000$1,145,000

By Lateral Moves

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

One or More Lateral Moves

553322$900,000$1,250,000$1,750,000
$775,000$1,000,000$1,400,000

No Laterals

1054956$975,000$1,500,000$2,050,000
$772,500$1,000,000$1,500,000

Non-AmLaw 100

351025$650,000$1,000,000$2,200,000
$610,000$850,000$1,145,000

By Law Firm Tenure

Sample SizeGCGC/CCOBottom QuartileMedianTop Quartile

All GC 8 years or more

472522$900,000$1,300,000$2,000,000
$800,000$1,000,000$1,525,000

All GC 5 to 7 years

593227$925,000$1,352,500$1,900,000
$800,000$1,000,000$1,387,500

All GC less than 5 years

542529$950,000$1,440,000$2,100,000
$750,000$960,000$1,450,000

Non-AmLaw 100

351025$650,000$1,000,000$2,200,000
$610,000$850,000$1,145,000

KEY

Total Compensation = Cash Base + Cash Bonus + Deferred Cash + Equity

Cash Compensation = Cash Base + Cash Bonus + Deferred Cash

Associate General Counsel

All Job Categories

2024 Dataset

By Role

Sample SizeBottom QuartileMedianTop Quartile

All AGC

168$441,300$599,500$850,000
$440,000$572,400$752,500

AGC

146$425,000$561,500$785,000
$425,000$549,130$750,000

AGC/CCO

22$695,000$815,000$1,290,000
$570,000$700,000$900,000

By Experience

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

All AGC 16 Years or More

635112$625,000$795,000$1,025,000
$599,000$750,000$945,000

All AGC 11-15 Years

55487$495,000$634,000$850,000
$471,000$600,000$725,000

All AGC 0-10 Years

50473$360,000$422,500$506,000
$350,000$417,500$500,000

By Assets

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

All AGC $200Bn and Over

47470$425,000$595,000$920,000
$425,000$550,000$850,000

All AGC $40 Bn-$200Bn

40373$485,500$770,000$942,500
$485,500$707,500$854,000

All AGC $15Bn-$39Bn

39336$501,000$625,000$850,000
$500,000$600,000$750,000

All AGC Under $15Bn

422913$352,500$500,000$725,000
$332,500$478,750$634,000

By L&C Department Size

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

All AGC L&C>=40

49481$442,600$630,000$920,000
$442,600$614,750$863,000

All AGC L&C 10-39

61565$471,000$650,000$891,500
$471,000$625,000$770,000

All AGC L&C less than 10

584216$381,000$544,130$750,000
$375,000$525,000$675,000

By Law School Ranking

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

Top 25

96888$468,000$662,500$930,000
$468,000$627,500$837,500

Other

725814$405,679$515,000$742,500
$389,179$503,000$666,500

By Fund Type

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

Hedge

37289$380,000$525,000$740,000
$380,000$525,000$725,000

PE/Venture

42357$470,000$712,500$975,000
$425,000$589,500$690,000

Blended

89836$450,000$595,000$890,800
$450,000$585,000$775,000

By Location

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

California

21192$425,000$650,000$1,070,000
$425,000$614,750$850,000

New York Metro Core

1028616$480,000$642,000$863,000
$480,000$600,000$775,000

Northeast / Mid-Atlantic

19172$470,000$630,000$890,800
$465,000$565,000$755,000

Southern / Central / Interior U.S./Other

26242$335,000$437,500$615,000
$335,000$437,500$525,000

By Training Practice Area

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

Corporate/Transactional/Finance

53494$472,500$625,000$825,000
$465,000$599,000$775,000

Funds/Investment Management/Regulatory

80728$467,500$627,500$903,250
$467,500$602,500$799,000

Non-AmLaw 100

352510$352,500$500,000$730,000
$332,500$470,000$614,750

By Lateral Moves

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

One or More Lateral Moves

46442$450,000$617,500$940,000
$450,000$602,500$750,000

No Laterals

877710$487,500$634,000$850,000
$487,500$600,000$850,000

Non-AmLaw 100

352510$352,500$500,000$730,000
$332,500$470,000$614,750

By Law Firm Tenure

Sample SizeAGCAGC/CCOBottom QuartileMedianTop Quartile

All AGC 5 years+

90819$487,500$627,500$915,000
$471,000$600,000$775,000

All AGC less than 5 years

43403$420,000$590,000$825,000
$420,000$590,000$825,000

Non-AmLaw 100

352510$352,500$500,000$730,000
$332,500$470,000$614,750

KEY

Total Compensation = Cash Base + Cash Bonus + Deferred Cash + Equity

Cash Compensation = Cash Base + Cash Bonus + Deferred Cash

Chief Compliance Officer

All Job Categories

2024 Dataset

By Role

Sample SizeBottom QuartileMedianTop Quartile

All CCO

184$697,500$1,015,000$1,722,500
$590,650$778,000$1,145,000

CCO

59$540,000$725,000$1,151,000
$450,000$650,000$800,000

AGC/CCO

22$695,000$815,000$1,290,000
$570,000$700,000$900,000

GC/CCO

103$875,000$1,345,000$2,100,000
$725,000$950,000$1,400,000

By Experience

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

All CCO 20 Years or More

9936954$750,000$1,153,000$1,784,500
$675,000$850,000$1,275,000

All CCO < 20 Years

85231349$634,000$980,000$1,650,000
$538,000$727,245$1,000,000

By Assets

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

All CCO $20Bn and Over

3617712$823,750$1,245,000$2,175,000
$770,000$1,047,500$1,475,000

All CCO $5Bn to $19Bn

71191240$750,000$1,050,000$1,965,000
$575,000$775,000$1,145,000

All CCO $2Bn to $5Bn

5017132$650,000$865,625$1,450,000
$565,000$737,500$1,000,000

All CCO Under $2Bn

276219$500,000$725,000$1,250,000
$500,000$725,000$950,000

By L&C Department Size

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

All CCO L&C>20

161141$727,500$1,050,000$1,645,000
$727,500$997,500$1,125,500

All CCO L&C 10-20

14626$787,500$1,374,000$2,305,000
$700,000$843,750$1,153,000

All CCO L&C 5-10

2410410$803,750$1,337,500$2,250,000
$655,000$811,250$1,675,000

All CCO L&C less than 5

130321286$650,000$962,500$1,570,000
$565,000$750,000$1,000,000

By Law School Ranking

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

Top 25

7212852$790,500$1,300,000$2,025,000
$700,000$875,000$1,150,000

Other

86211451$725,000$1,002,500$1,700,000
$600,000$807,500$1,250,000

Non-lawyer

262600$440,000$617,000$807,500
$395,000$578,150$725,000

By Fund Type

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

Hedge

7318946$650,000$800,000$1,370,000
$624,000$750,000$1,145,000

PE/Venture

6120734$807,500$1,300,000$1,965,000
$570,000$775,000$1,000,000

Blended

5021623$625,000$1,085,000$1,640,000
$600,000$957,000$1,231,000

By Location

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

California

194213$675,000$1,000,000$1,900,000
$600,000$900,000$995,000

New York Metro Core

113341663$730,000$1,085,000$1,725,000
$650,000$850,000$1,275,000

Northeast / Mid-Atlantic

2913214$700,000$1,005,000$1,687,500
$612,000$760,000$1,100,000

Southern / Central / Interior U.S./Other

238213$565,000$787,500$1,225,000
$427,500$565,000$765,000

By Training Practice Area

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

Corporate/Transactional/Finance

454437$850,000$1,300,000$1,800,000
$750,000$1,000,000$1,387,500

Funds/Investment Management/Regulatory

5910841$800,000$1,225,000$2,100,000
$700,000$900,000$1,200,000

Non-AmLaw 100 (or not a lawyer)

80451025$565,000$740,000$1,152,000
$475,000$662,500$897,000

By Lateral Moves

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

One or More Lateral Moves

273222$715,000$1,290,000$2,100,000
$600,000$975,000$1,350,000

No Laterals

77111056$900,000$1,300,000$2,000,000
$750,000$930,000$1,275,000

Non-AmLaw 100 (or not a lawyer)

80451025$565,000$740,000$1,152,000
$475,000$662,500$897,000

By Law Firm Tenure

Sample SizeCCOAGC/CCOGC/CCOBottom QuartileMedianTop Quartile

All CCO 5 years+

6810949$800,000$1,295,000$1,887,500
$713,623$950,000$1,275,000

All CCO less than 5 years

364329$940,000$1,325,000$2,083,500
$732,500$915,000$1,325,000

Non-AmLaw 100 (or not a lawyer)

80451025$565,000$740,000$1,152,000
$475,000$662,500$897,000

KEY

Total Compensation = Cash Base + Cash Bonus + Deferred Cash + Equity

Cash Compensation = Cash Base + Cash Bonus + Deferred Cash

Participants with Equity

All Job Categories

2024 Dataset

General Counsel

% GC w/ EquitySample SizeBottom QuartileMedianTop Quartile

All

54%106$100,000$350,000$1,000,000

GC

50%46$100,000$318,120$750,000

GC/CCO

58%60$140,000$443,500$1,000,000

Associate General Counsel

% AGC w/ EquitySample SizeBottom QuartileMedianTop Quartile

All

29%49$55,500$150,000$500,000

AGC

27%39$25,000$100,000$399,000

AGC/CCO

45%10$180,000$325,000$750,000

Chief Compliance Officer

% CCO w/ EquitySample SizeBottom QuartileMedianTop Quartile

All

51%95$80,000$350,000$1,000,000

CCO

42%25$20,000$115,000$800,000

AGC/CCO

45%10$180,000$325,000$750,000

GC/CCO

58%60$140,000$443,500$1,000,000

NOTE ON EQUITY/CARRY

Participants were asked to provide the estimated value of the carry/equity component (granted, not vested) of their total compensation attributable to FY2024 in USD. This figure excludes bonus compensation already reported as cash, deferred bonus or compensation that vested in FY2024 from prior periods.

Accepted and agreed.