📶 How much do VCs make?

Breaking down how much salary, bonus, and carry VCs make based on their title

January 12, 2023 • Estimated Reading Time: 6 minutes

How much do VCs make?

Clear question. Unclear answers.

VCs are paid in salary, bonus, and carry. How much depends on title, size of the fund, location, and a number of other things.

We break down how much you can expect to make by title in this post.

For a full breakdown of our venture capital survey, click the button below.

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Snapshot:

Takeaways:

If you care about salary, do NOT work at a first-time / smaller fund. All of the respondents making the minimum / near the minimum for their position are working at smaller funds (below $50 million AUM).
Most VCs do not receive meaningful carry. ~75% of respondents receive less than 2% of carried interest.
Most associates, senior associates, and principals have MBAs; most partners do not. This could be an anomaly in our dataset, but most partners we surveyed did not have advanced degrees beyond a bachelor’s.
Path to partner takes longer than expected. It took 12.1 years on average for the partners in this survey to work their way to that position.