Higher base salaries, more paid time off, gym discounts, travel insurance — private equity is doing all it can to retain talent as the industry weathers a prolonged slump in deals.
With rising borrowing costs making fundraising and stake exits more challenging, buyout firms have become more selective in their hiring and are focusing more on keeping their existing staff happy, a Preqin report found. The data provider surveyed 84 private capital firms globally for its findings.
While salaries were pumped up and down the ranks in 2023, those in junior and midlevel positions saw the biggest increase. Mid-level professionals got an average increase of about 10% year on year, the most among all other levels of seniority, according to Preqin’s 2024 Private Capital Compensation and Employment Review. Seniors saw about 9%.