Salaries, Bonuses, Carry & What Each Role Really Does
Venture capital isn’t just about high-profile founders and unicorns—it's a competitive, multi-tier career path with compensation that varies dramatically depending on fund size, seniority, and carry (equity in fund profits).
Here’s what the current data tells us:
| Metric | Insight |
|---|---|
| Highest Avg Comp | $2.1M – Mega Fund GPs |
| Largest Pay Gap | 6x – General Partner vs. Associate |
| Carry Sweet Spot | 45–60% – Small/Micro GPs |
| Entry-Level Salary | $90K–$180K for Associates & Analysts |
| Fund Size | Range | Sample Firms |
|---|---|---|
| Micro | <$100M | Precursor, Hustle Fund, Banana Capital |
| Small | $100–500M | Homebrew, Forerunner, Uncork Capital |
| Mid-Market | $500M–$1B | Menlo, Canvas, CRV |
| Large | $1B–$5B | Accel, Index Ventures, Bessemer |
| Mega | >$5B | Sequoia, a16z, Insight Partners, General Catalyst |
Experience: 0–2 years | Carry: 0%
Typical Background: Undergrad hire or former intern
| Fund Size | Base | Bonus | Total |
|---|---|---|---|
| Micro | Limited data | – | – |
| Small | $65K | $15K | $80K |
| Mid | $95K | $15K | $100K |
| Large | $100K | $20K | $120K |
| Mega | $115K | $35K | $150K |
Experience: 2–4 years | Carry: 0%
Typical Background: Investment banking, consulting, or startup ops
| Fund Size | Base | Bonus | Total |
|---|---|---|---|
| Micro | $70K | $15K | $90K |
| Small | $95K | $25K | $120K |
| Mid | $120K | $30K | $150K |
| Large | $140K | $40K | $180K |
| Mega | $160K | $60K | $220K |
Experience: 4–6 years | Carry: 0.5–1%
Typical Background: MBA or strong pre-partner track performance
| Fund Size | Base | Bonus | Carry | Total |
|---|---|---|---|---|
| Micro | $90K | $20K | 1% | $120K |
| Small | $120K | $40K | 0.5% | $160K |
| Mid | $150K | $50K | 0.5% | $200K |
| Large | $200K | $50K | 0.5% | $250K |
| Mega | $240K | $80K | 0.5% | $320K |
Experience: 6–10 years | Carry: 2.5–5%
Typical Background: Senior operator, repeat founder, or promoted investor
| Fund Size | Base | Bonus | Carry | Total |
|---|---|---|---|---|
| Micro | $120K | $60K | 5% | $180K |
| Small | $180K | $70K | 4% | $250K |
| Mid | $220K | $80K | 3% | $300K |
| Large | $280K | $100K | 2.5% | $380K |
| Mega | $350K | $125K | 2% | $475K |
Experience: 10–15+ years | Carry: 6–20%
Typical Background: Ex-founder, senior operator, or principal promoted internally
| Fund Size | Base | Bonus | Carry | Total |
|---|---|---|---|---|
| Micro | $150K | $50K | 20% | $250K |
| Small | $250K | $100K | 15% | $350K |
| Mid | $350K | $100K | 10% | $450K |
| Large | $450K | $200K | 6% | $650K |
| Mega | $700K | $250K | 6% | $950K |
Experience: 15+ years | Carry: 18–60%
Typical Background: Founding investor, Managing Director, firm founder
| Fund Size | Base | Bonus | Carry | Total |
|---|---|---|---|---|
| Micro | $250K | $50K | 60% | $350K |
| Small | $500K | $50K | 45% | $550K |
| Mid | $750K | $100K | 30% | $850K |
| Large | $950K | $250K | 25% | $1.2M |
| Mega | $1.5M | $400K | 18% | $2.1M |
The venture capital world is both rewarding and incredibly competitive. Breaking in is tough—but knowing where you're headed, and what’s at stake financially, helps define your path.
Whether you're just starting out or aiming to become a GP, understanding how value accrues across each role and fund size is key to making smart career decisions.
