Private equity compensation is up despite the pandemic although a study by Heidrick & Struggles shows interesting gaps.

Compensation in the private equity sector rose in 2021 in Europe and Africa – again. According to a report by Heidrick & Struggles, they were up about 21 percent.

That is the fourth successive year that they have been up. Switzerland is included in that picture. About 36 percent of those surveyed reported an increase in basic salary in 2021 while 39 percent said that their bonus was up. (figures in table below reported in euros)

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This year's study showed several interesting aspects.

First, they looked at the impact of Brexit, if any, on compensation. But the U.K. continued to pay the highest salaries, followed by Southern Europe, Africa, the Nordic countries – and then Western Europe, the latter of which includes Switzerland.

British managing partners also indicated that their bonuses were up this year, with associate compensation packages up by 21 percent over a three-year period.

Significant Gender Gap

Another interesting point was the significant difference in compensation between genders. Women earned much less, particularly in senior positions.

The gap was 14 percent at the associate level, rising to 18 percent when partners.

According to Heidrick & Struggles, they see a similar pattern in the U.S.