Private-equity salaries revealed: Here's how much top firms like Blackstone, KKR, and Oaktree are offering 2024 associates
. In fact, 2022 on-cycle recruitment was the earliest ever, kicking off before Labor Day. That's because the war for talent is expected to continue and high-profile executives, like Tim Ryan, the US chair of the accounting firm PwC, predict it could last for another decade.
Additionally, some private-equity employees earn carried interest, which is compensation based on a certain percent of a private-equity fund's earnings that is collected after the minimum return is met. Carry allocations are expressed in the form of a share within a fund's profit pool, and typically regarded in basis points . 1 basis point is 0.01% of the profit pool. For example: an IP might be given 50 bps. If the fund is $1.
Apax Partners, which was founded about 50 years ago, focuses on tech, services, healthcare and consumer/internet sectors. They have $3 billion in AUM as of February 2023, according to their website. Apax combined three non-profit focused software companies in 2021 — EveryAction, Social Solutions and CyberGrants — in a $2 billion deal, Bloomberg reported.
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