A senior leader at a private equity firm who sources and approves buyouts, sits on portfolio company boards and helps raise the firm's funds. Heidrick & Struggles 2025 North America Private Equity Investment Professional Compensation Survey puts typical pay at $1,111,000 a year (2024). BLS does not publish separate figures for investment fund managers; it counts them within investment fund manager (SOC 11-3031), whose median pay is $166,570 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 11-3031
- Management
- Last updated October 9, 2026
At a glance
Private Equity Partner in four numbers
- Median pay
- $166,570a year, or $80.08/hrBLS OEWS, May 2025Lowest 10% $94KTop 10% $323K
US median, all jobs: $50,980
- Projected growth
- +9.7%Much faster than averageBLS EP, 2025–2035This career+9.7%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +9.7% All jobs +3.5% - Openings a year
- 65,600879,700 jobs todayBLS EP, 2025–2035
- Jobs in 2025879.7K
- Projected 2035964.6K
Employment, 2025–2035 Item Value Jobs in 2025 879.7K Projected 2035 964.6K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
- Bachelor's32.7%
- Master's63.3%
- Post-master’s certificate2%
- Professional degree2%
Highest education held by investment fund managers Segment Value Bachelor's 32.7% Master's 63.3% Post-master’s certificate 2% Professional degree 2%
Also advertised as: Private Equity Managing Director, Buyout Partner, Partner, Private Equity, Senior Partner, Private Equity, Investment Partner.
Pay
How much do Investment Fund Managers make?
Industry-reported pay
$1,111,000
Mean total cash compensation (base plus bonus, excluding carried interest), partners and managing directors at North American private equity firms whose current fund is $1.0bn to $1.49bn.
- Entry level
- $720,000
- Top earners
- $1,852,000
Source: Heidrick & Struggles 2025 North America Private Equity Investment Professional Compensation Survey, 2024 (published compensation survey). This is not a BLS figure: BLS counts investment fund managers within investment fund manager, whose pay is shown below. Heidrick & Struggles: 2025 North America Private Equity Investment Professional Compensation Survey · Heidrick & Struggles: 2025 North America Private Equity Investment Professional Compensation Survey (summary)
Every private equity partner in the US, by percentile of annual wage
Median
$166,570
Middle half earn $125,490 to $219,980
- 10th
- $94,310
- 25th
- $125,490
- 75th
- $219,980
- 90th
- $323,270
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $94,310 |
| 25th | $125,490 |
| Median | $166,570 |
| 75th | $219,980 |
| 90th | $323,270 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $166,570
- Median hourly wage
- $80.08/hr
- Mean annual wage
- $186,910
- People employed
- 841,710
Versus all US occupations
At $166,570, Investment Fund Managers earn 227% above the $50,980 median across all US occupations, a difference of $115,590 a year.
Versus management occupations
Inside the Management group, where the middle occupation pays $126,060, this is 32% above the group median.
Pay range
The top 10% earn $323,270 or more while the bottom 10% earn $94,310, a gap of 3.4×. 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 94% of the 1,741 occupations in the NueCareer career bank.
Highest-paying state
New York pays the most at $219,880, and still leads at $203,742 once local prices are taken into account.
Pay by state
Which states pay Investment Fund Managers 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 |
|---|---|---|---|
| 1New York | $219,880 | $203,742 | 80,810 |
| 2Massachusetts | $206,760 | $195,505 | 26,150 |
| 3New Jersey | $199,110 | $182,997 | 32,510 |
| 4District of Columbia | $188,880 | $171,864 | 8,930 |
| 5Virginia | $185,220 | $183,197 | 20,850 |
| 6Colorado | $182,690 | $177,279 | 10,640 |
| 7Delaware | $181,580 | $181,929 | 2,810 |
| 8California | $180,770 | $163,268 | 93,310 |
| 9Washington | $174,840 | $163,382 | 12,930 |
| 10Connecticut | $174,830 | $168,739 | 20,040 |
Job outlook
Is Private Equity Partner a growing career?
Employment change over 2025–2035, against every US occupation
Much faster than average. +9.7% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Investment Fund Managers | +9.7% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Much faster than average
BLS projects employment of Investment Fund Managers to change 9.7% over 2025–2035, roughly 2.8× the 3.5% projected for all occupations. That is 84,900 more jobs.
Annual openings
About 65,600 openings are projected each year, 7.5% of the 879,700 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Private Equity Partner
Partners almost always rise through the private equity ladder of associate, vice president and principal over a decade or more. Many start in investment banking or management consulting after a bachelor's degree, join a fund as an associate, and often complete an MBA before returning at a more senior level. Some partners come from operating careers as chief executives or division heads.
No license is required to be a partner, though firms that are registered investment advisers have compliance obligations under SEC rules. Promotion depends on deal results, the ability to source proprietary opportunities, judgment in committee, and relationships with limited partners. Industry groups such as the Institutional Limited Partners Association publish the governance and reporting standards partners are expected to follow.
- 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 investment fund managers.
- Master's Degree63.3%
- Bachelor's Degree32.7%
- Post-Master's Certificate2%
- First Professional Degree2%
| Item | Value |
|---|---|
| Master's Degree | 63.3% |
| Bachelor's Degree | 32.7% |
| Post-Master's Certificate | 2% |
| First Professional Degree | 2% |
Source: O*NET 31.0 Database
The work
What does a Private Equity Partner do?
Private equity partners are the senior decision makers at buyout and growth investment firms. They find companies to buy, often through long relationships with founders, bankers and executives, and they decide which deals the firm should pursue. When a deal moves forward they lead negotiations on price and terms and present the investment to the firm's investment committee.
After a purchase, partners sit on the company's board. They hire and fire chief executives, approve budgets and acquisitions, and push the plan that is supposed to raise the company's value before a sale or public listing. Partners also spend a large share of their time with the pension funds, endowments and family offices that invest in the firm's funds, reporting results and raising the next fund.
Day-to-day tasks
- Source acquisition opportunities through founders, executives and intermediaries
- Lead negotiations on price, structure and legal terms for buyouts
- Present and defend investments before the firm's investment committee
- Serve on portfolio company boards and oversee management teams
- Approve add-on acquisitions, refinancings and exit plans
- Raise capital from pension funds, endowments and other limited partners
- Mentor and evaluate associates, vice presidents and principals
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Partners work in firm offices in major financial centers and travel often to portfolio companies, management meetings and investor conferences. Hours are long during live deals and fundraising, and partners are on call for portfolio company problems. The work is desk and meeting based.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery dayAlmost never works outdoors.
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
NoneConstantFace-to-face discussions
NeverEvery dayFace-to-face discussions every day.
Dealing with the public
Not importantExtremely important
Pressure and stakes
Strict deadlines
NeverEvery dayMeeting strict deadlines at least weekly.
Conflict situations
NeverEvery dayCost 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
- Reading Comprehension4.0
- Active Listening4.0
- Critical Thinking4.0
- Speaking3.9
- Active Learning3.8
- Writing3.6
- Monitoring3.5
- Mathematics3.4
| Item | Value |
|---|---|
| Reading Comprehension | 4.0 |
| Active Listening | 4.0 |
| Critical Thinking | 4.0 |
| Speaking | 3.9 |
| Active Learning | 3.8 |
| Writing | 3.6 |
| Monitoring | 3.5 |
| Mathematics | 3.4 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Judgment and Decision Making3.9
- Complex Problem Solving3.8
- Systems Analysis3.4
- Systems Evaluation3.3
- Time Management3.3
- Coordination3.1
- Persuasion3.1
- Social Perceptiveness3.0
| Item | Value |
|---|---|
| Judgment and Decision Making | 3.9 |
| Complex Problem Solving | 3.8 |
| Systems Analysis | 3.4 |
| Systems Evaluation | 3.3 |
| Time Management | 3.3 |
| Coordination | 3.1 |
| Persuasion | 3.1 |
| Social Perceptiveness | 3.0 |
Source: O*NET 31.0 Database
Tools and software
- Analytical or scientific software · in demand
- Business intelligence and data analysis software · in demand
- Data base user interface and query software · in demand
- Electronic mail software · in demand
- Enterprise resource planning ERP software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Process mapping and design software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Word processing software · in demand
- Accounting software
“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 Partner?
NueCareer estimate (Holland code ECI) built on O*NET's Investment Fund Manager profile, scored 1 to 7
| Axis | Private Equity Partner |
|---|---|
| Realistic | 1 |
| Investigative | 4 |
| Artistic | 2 |
| Social | 3 |
| Enterprising | 7 |
| Conventional | 6 |
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
- Conventional5.5
- Investigative4.4
- Social2.7
- Artistic1.6
- Realistic1.5
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 Partner
O*NET related occupations
- Management
- Business and Financial Operations
- Business and Financial Operations
- Business and Financial Operations
- Sales and Related
Security, Commodity, and Financial Services Sales Agent
$78,660median a year
Most earn $48K to $213K
+1.4%Bachelor's - Business and Financial Operations
More management careers
Median annual pay, with investment fund managers highlighted
- IT Manager$175,140
- Marketing Manager$166,790
- Financial Manager$166,570
- Private Equity Partner$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 |
|---|---|
| IT Manager | $175,140 |
| Marketing Manager | $166,790 |
| Financial Manager | $166,570 |
| Private Equity Partner | $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 Partner appears on
Questions
Private Equity Partner: frequently asked questions
How much do Investment Fund Managers make?
Heidrick & Struggles 2025 North America Private Equity Investment Professional Compensation Survey reports $1,111,000 (mean total cash compensation (base plus bonus, excluding carried interest), partners and managing directors at North American private equity firms whose current fund is $1.0bn to $1.49bn, 2024), with top earners around $1,852,000. BLS does not publish a separate wage for investment fund managers. It counts them within investment fund manager, whose median pay is $166,570 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $125,490 and $219,980, and the top 10% earn $323,270 or more.
Do you need a degree to become a Private Equity Partner?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Investment Fund Managers, 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, 63.3% hold master's degree.
Is Private Equity Partner a growing career?
Yes, strongly. Employment is projected to grow 9.7% over 2025–2035, more than double the 3.5% projected for all occupations (BLS EP, 2025–2035). BLS still projects about 65,600 openings a year, mostly from workers retiring or moving to other work.
What does a Private Equity Partner do?
Private equity partners are the senior decision makers at buyout and growth investment firms. A typical task: source acquisition opportunities through founders, executives and intermediaries. Employers most often ask for Analytical or scientific software, Business intelligence and data analysis software, Data base user interface and query software.
Which states pay Investment Fund Managers the most?
The highest state medians for Investment Fund Managers are New York ($219,880), Massachusetts ($206,760), New Jersey ($199,110) (BLS OEWS, May 2025).
What personality type suits a Private Equity Partner?
O*NET scores Investment Fund Managers highest on the Enterprising, Conventional and Investigative 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 ESTJ, ENTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.