A former executive who works for a private equity firm to improve the operations of the companies it owns, from pricing to hiring to cost control. Heidrick & Struggles 2024 North American Private Equity Operating Professional Compensation Survey puts typical pay at $636,000 a year (2023). BLS does not publish separate figures for chief executives; it counts them within chief executive (SOC 11-1011), whose median pay is $213,990 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 11-1011
- Management
- Last updated October 9, 2026
At a glance
Private Equity Operating Partner in four numbers
- Median pay
- $213,990a year, or $102.88/hrBLS OEWS, May 2025Lowest 10% $76KTop 10% $508K
US median, all jobs: $50,980
- Projected growth
- +3.2%About as fast as averageBLS EP, 2025–2035This career+3.2%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +3.2% All jobs +3.5% - Openings a year
- 19,100291,600 jobs todayBLS EP, 2025–2035
- Jobs in 2025291.6K
- Projected 2035300.9K
Employment, 2025–2035 Item Value Jobs in 2025 291.6K Projected 2035 300.9K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- High school4.5%
- Associate's5.2%
- Bachelor's32.3%
- Master's45.9%
- Post-master’s certificate3.9%
- Doctorate4.9%
Highest education held by chief executives Segment Value High school 4.5% Associate's 5.2% Bachelor's 32.3% Master's 45.9% Post-master’s certificate 3.9% Doctorate 4.9%
Also advertised as: Operating Partner, Operating Executive, Private Equity, Portfolio Operations Partner, Value Creation Partner, Head of Portfolio Operations.
Pay
How much do Chief Executives make?
Industry-reported pay
$636,000
Mean total cash compensation (base plus bonus, excluding carried interest), US private equity operating partners at firms whose most recent fund is $500m to $1.0bn.
- Entry level
- $385,000
- Top earners
- $1,139,000
Source: Heidrick & Struggles 2024 North American Private Equity Operating Professional Compensation Survey, 2023 (published compensation survey). This is not a BLS figure: BLS counts chief executives within chief executive, whose pay is shown below. Heidrick & Struggles: 2024 North American Private Equity Operating Professional Compensation Survey
Every private equity operating partner in the US, by percentile of annual wage
Median
$213,990
Middle half earn $129,540 to $356,200
- 10th
- $75,700
- 25th
- $129,540
- 75th
- $356,200
- 90th
- $507,730
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $75,700 |
| 25th | $129,540 |
| Median | $213,990 |
| 75th | $356,200 |
| 90th | $507,730 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $213,990
- Median hourly wage
- $102.88/hr
- Mean annual wage
- $269,630
- People employed
- 204,350
Versus all US occupations
At $213,990, Chief Executives earn 320% above the $50,980 median across all US occupations, a difference of $163,010 a year.
Versus management occupations
Inside the Management group, where the middle occupation pays $126,060, this is 70% above the group median.
Pay range
The top 10% earn $507,730 or more while the bottom 10% earn $75,700, a gap of 6.7×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 96% of the 1,741 occupations in the NueCareer career bank.
Cost of living
Oregon posts the highest raw median ($341,630), but once local prices are taken into account North Carolina leads at $333,196 in national-average dollars.
Pay by state
Which states pay Chief Executives the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1Oregon | $341,630 | $330,521 | 910 |
| 2Washington | $339,810 | $317,541 | 3,170 |
| 3Illinois | $331,920 | $332,059 | 4,620 |
| 4North Carolina | $314,290 | $333,196 | 1,930 |
| 5Virginia | $310,740 | $307,347 | 4,870 |
| 6New Jersey | $310,440 | $285,318 | 2,430 |
| 7Connecticut | $295,120 | $284,837 | 1,660 |
| 8Hawaii | $281,640 | $256,150 | 470 |
| 9South Dakota | $280,900 | $317,093 | 510 |
| 10New York | $257,980 | $239,045 | 8,430 |
Job outlook
Is Private Equity Operating Partner a growing career?
Employment change over 2025–2035, against every US occupation
About as fast as average. +3.2% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Chief Executives | +3.2% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
About as fast as average
BLS projects employment of Chief Executives to change 3.2% over 2025–2035, against 3.5% projected for all occupations. That is 9,300 more jobs.
Annual openings
About 19,100 openings are projected each year, 6.6% of the 291,600 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Private Equity Operating Partner
Most operating partners spent years as senior executives, often as chief executives, chief operating officers or functional heads at large companies, or as partners at management consulting firms. A bachelor's degree is typical and many hold an MBA. Private equity firms recruit them through executive search firms and their own networks.
There is no license or exam for the role. Firms look for a record of running and improving businesses, credibility with management teams, and comfort with the private equity model of leverage, board governance and a defined exit timeline. Some people start as senior advisors on a part-time basis before joining a firm full time.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
5 years or more
- 3
Typical on-the-job training
None
- 4
Preparation needed (O*NET job zone)
Considerable preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as chief executives.
- Master's Degree45.9%
- Bachelor's Degree32.3%
- Associate's Degree or other 2-year degree5.2%
- Doctoral Degree4.9%
- High School Diploma or the equivalent (such as a GED)4.5%
| Item | Value |
|---|---|
| Master's Degree | 45.9% |
| Bachelor's Degree | 32.3% |
| Associate's Degree or other 2-year degree | 5.2% |
| Doctoral Degree | 4.9% |
| High School Diploma or the equivalent (such as a GED) | 4.5% |
Source: O*NET 31.0 Database
The work
What does a Private Equity Operating Partner do?
Operating partners bring hands-on business experience to a private equity firm. Instead of finding and pricing deals, they work inside portfolio companies to make them perform better. One may focus on a function such as sales, supply chain, technology or talent, while another covers an industry and serves as chair or interim chief executive at a struggling company.
Before a deal closes, operating partners help with diligence by judging the management team and the realistic upside of an improvement plan. After the purchase they build the hundred-day plan, recruit executives, set performance targets and track progress with the board. They also share playbooks across the portfolio so lessons from one company help the others.
Day-to-day tasks
- Assess management teams and operating upside during deal diligence
- Build hundred-day and value creation plans for newly acquired companies
- Recruit and evaluate chief executives and senior leaders
- Lead pricing, procurement, technology or sales improvement projects
- Serve as board chair or interim executive at portfolio companies
- Track operating metrics against the investment plan
- Share best practices and vendor programs across the portfolio
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Operating partners split time between the private equity firm's office and portfolio company sites, so travel is frequent. They attend board meetings, management sessions and plant or store visits. Schedules are demanding but often less tied to deal deadlines than those of the investment team.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery day
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantConstant contact with other people.
Face-to-face discussions
NeverEvery dayFace-to-face discussions every day.
Dealing with the public
Not importantExtremely importantDealing with customers or the public is very important.
Pressure and stakes
Strict deadlines
NeverEvery dayMeeting strict deadlines at least weekly.
Conflict situations
NeverEvery dayHandling conflict situations at least monthly.
Cost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lotA lot of freedom to make decisions without checking first.
Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Core skills
O*NET importance, 1 to 5
- Critical Thinking4.4
- Speaking4.3
- Reading Comprehension4.1
- Writing4.1
- Active Listening4.0
- Monitoring4.0
- Active Learning3.8
- Mathematics3.3
| Item | Value |
|---|---|
| Critical Thinking | 4.4 |
| Speaking | 4.3 |
| Reading Comprehension | 4.1 |
| Writing | 4.1 |
| Active Listening | 4.0 |
| Monitoring | 4.0 |
| Active Learning | 3.8 |
| Mathematics | 3.3 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Judgment and Decision Making4.8
- Complex Problem Solving4.4
- Coordination4.3
- Systems Evaluation4.3
- Management of Financial Resources4.3
- Management of Personnel Resources4.3
- Social Perceptiveness4.1
- Negotiation4.1
| Item | Value |
|---|---|
| Judgment and Decision Making | 4.8 |
| Complex Problem Solving | 4.4 |
| Coordination | 4.3 |
| Systems Evaluation | 4.3 |
| Management of Financial Resources | 4.3 |
| Management of Personnel Resources | 4.3 |
| Social Perceptiveness | 4.1 |
| Negotiation | 4.1 |
Source: O*NET 31.0 Database
Tools and software
- Accounting software · in demand
- Content workflow software · in demand
- Data base user interface and query software · in demand
- Document management software · in demand
- Electronic mail software · in demand
- Enterprise application integration software · in demand
- Enterprise resource planning ERP software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Web platform development software · in demand
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Private Equity Operating Partner?
NueCareer estimate (Holland code ECS) built on O*NET's Chief Executive profile, scored 1 to 7
| Axis | Private Equity Operating Partner |
|---|---|
| Realistic | 1 |
| Investigative | 3 |
| Artistic | 2 |
| Social | 4 |
| Enterprising | 7 |
| Conventional | 5 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around leading, persuading, selling and making decisions, combined with organising, following procedures and working precisely with data.
- Enterprising7.0
- Conventional5.4
- Social4.2
- Investigative3.0
- Artistic2.2
- Realistic1.3
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Private Equity Operating Partner
O*NET related occupations
- Management
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- Business and Financial Operations
- Management
- Management
- Management
- Legislator · N/A median
More management careers
Median annual pay, with chief executives highlighted
- Private Equity Operating Partner$213,990
- IT Manager$175,140
- Marketing Manager$166,790
- Financial Manager$166,570
- Human Resources Manager$149,280
- Sales Manager$148,270
- Construction Manager$114,990
- Supply Chain Manager$107,230
- Property, Real Estate, and Community Association Manager$69,990
| Item | Value |
|---|---|
| Private Equity Operating Partner | $213,990 |
| IT Manager | $175,140 |
| Marketing Manager | $166,790 |
| Financial Manager | $166,570 |
| Human Resources Manager | $149,280 |
| Sales Manager | $148,270 |
| Construction Manager | $114,990 |
| Supply Chain Manager | $107,230 |
| Property, Real Estate, and Community Association Manager | $69,990 |
Source: BLS OEWS, May 2025
Lists Private Equity Operating Partner appears on
Questions
Private Equity Operating Partner: frequently asked questions
How much do Chief Executives make?
Heidrick & Struggles 2024 North American Private Equity Operating Professional Compensation Survey reports $636,000 (mean total cash compensation (base plus bonus, excluding carried interest), US private equity operating partners at firms whose most recent fund is $500m to $1.0bn, 2023), with top earners around $1,139,000. BLS does not publish a separate wage for chief executives. It counts them within chief executive, whose median pay is $213,990 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $129,540 and $356,200, and the top 10% earn $507,730 or more.
Do you need a degree to become a Private Equity Operating Partner?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Chief Executives, and O*NET rates the preparation needed as considerable preparation. Employers typically expect 5 years or more of related work experience first. In O*NET's survey of people already doing the job, 45.9% hold master's degree.
Is Private Equity Operating Partner a growing career?
It is stable rather than fast-growing: employment is projected to change 3.2% over 2025–2035, about the same as the 3.5% projected across all occupations (BLS EP, 2025–2035). BLS still projects about 19,100 openings a year, mostly from workers retiring or moving to other work.
What does a Private Equity Operating Partner do?
Operating partners bring hands-on business experience to a private equity firm. A typical task: assess management teams and operating upside during deal diligence. Employers most often ask for Accounting software, Content workflow software, Data base user interface and query software.
Which states pay Chief Executives the most?
The highest state medians for Chief Executives are Oregon ($341,630), Washington ($339,810), Illinois ($331,920) (BLS OEWS, May 2025). Adjusted for local prices using BEA Regional Price Parities, North Carolina moves to the top at $333,196.
What personality type suits a Private Equity Operating Partner?
O*NET scores Chief Executives highest on the Enterprising, Conventional and Social interest areas, so the work mixes leading, persuading, selling and making decisions with organising, following procedures and working precisely with data. On NueCareer's MBTI-to-interest mapping the closest types are ESFJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.