UK male managing partners earn €200k more than female counterparts

According to newly-released figures, UK male managing partners earn €774.30k on average, while UK female managing partners earn €545.83k on average. 

The figures come from Heidrick & Struggles’ 2021 Europe & Africa Private Capital Compensation Study, which surveyed 439 participants across buyout, growth capital, distressed, credit, direct lending, secondaries, fund of funds, co-investment, and venture capital.

Across all of Europe and Africa, male managing partners earn €606.38k on average, while UK female managing partners earn €500k on average. 

UK

The UK reported the highest total cash compensation, followed by southern Europe (Spain and Italy), Africa (South Africa, Nigeria, Kenya, Morocco, Egypt, and Cote d’Ivoire), the Nordics (Denmark, Finland, Norway, and Sweden) and, finally, western Europe (France, Germany, Netherlands and Switzerland).

UK managing partners and partners reported a sharp increase in bonuses this year, with male professionals reporting greater gains than their female counterparts. 

Changes to compensation

Base salary 

(2021 vs 2020): 34% increase, 38% no change, 28% decrease

(2020 vs 2021): 68% increase, 31% no change, 1% decrease

Bonus

(2021 vs 2020): 40% increase, 34% no change, 26% decrease

(2020 vs 2021): 67% increase, 24% no change, 9% decrease

Total compensation by seniority

2021

Managing partner: base: €318.83k, bonus: €437.80k

Principal: base: €191.30k, bonus: €191.61k

Associate: base: €107.89k, bonus: €101.97k

2020

Managing partner: base: €313.10k, bonus: €406.71k

Principal: base: €180.85k, bonus: €200.16k

Associate: base: €108.55k, bonus: €84.87k

Total compensation by gender

2021

Managing partner: male: €774.30k, female: €545.83k

Principal: male: €381.15k, female: €450.00k

Associate: male: €215.52k, female: €166.67k

2020

Managing partner: male: €735.56k, female: €483.33k

Principal: male: €352.69k, female: €625.00k

Associate: male: €201.72k, female: €170.83k

Europe and Africa

Changes to compensation

Base salary 

(2021 vs 2020): 36% increase, 48% no change, 16% decrease

(2020 vs 2021): 52% increase, 47% no change, 1% decrease

Bonus

(2021 vs 2020): 39% increase, 44% no change, 17% decrease

(2020 vs 2021): 52% increase, 40% no change, 8% decrease

Total compensation by seniority

2021

Managing partner: base: €296.24k, bonus: €307.36k

Principal: base: €179.69k, bonus: €158.10k

Associate: base: €95k, bonus: €76.56k

2020

Managing partner: base: €284.08k, bonus: €279.72k

Principal: base: €171.16k, bonus: €154.83k

Associate: base: €89.06k, bonus: €61.25k

Total compensation by gender

2021

Managing partner: male: €606.38k, female: €500k

Principal: male: €342.50k, female: €339.06k

Associate: male: €171.54k, female: €147.22k

2020

Managing partner: male: €564.09k, female: €425.00k

Principal: base: male: €317.00k, female: €446.88k

Associate: base: male: €150.77k, female: €144.44k