Fourth Annual Report Finds Decline in 2023 Venture Capital Compensation from 2022
SAN FRANCISCO, March 11, 2024 — The Emerging Venture Capitalists Association (EVCA), the nonprofit dedicated to supporting the next generation of leaders in the venture capital industry, released its 4th Annual Compensation Report today.
Key Findings:
- From 2022 to 2023, compensation dropped 10% for Analysts, 3% for Senior Associates, 1% for VP/Principals, and 1% for partners while rising 9% for Associates.
- Average total compensation was $117,500 for analysts, $186,000 for Associates, $210,000 for Senior Associates, $270,000 for VP/Principals, and $387,500 for Partners.
A thriving innovation ecosystem requires constant re-investment to attract and develop the next generation of investors. One of the most powerful levers is competitive compensation, but data on compensation can be difficult to collect due to its sensitive nature. Since 2020, EVCA’s Annual Compensation Report has been used for industry-wide salary discussions and negotiations at every level of seniority. The report has kept a pulse on the venture capital industry, tracking compensation in the face of changing market conditions and global events while providing valuable insights that assist firms in attracting and retaining top talent.
The report is published with the ultimate goal of providing junior and partner-level venture capitalist investors with reliable benchmarks to accurately assess current and future compensation, irrespective of their role or fund. Additionally, the report seeks to provide GPs and senior leadership of venture funds a source by which to assess the compensation of junior team members compared to peer funds.
EVCA’s founder and chairman, Adam Dawkins, notes that even in the face of fluctuating market conditions, the 2023 VC Compensation Report underscores the importance of robust, data-driven insights for maintaining competitive compensation practices in the venture capital industry.
“Despite facing headwinds that have led to a slight contraction in compensation levels from the previous year, it’s encouraging to see that baseline compensation remains above 2021 levels. Our annual compensation report serves not only as a benchmark for industry standards but also as a crucial tool for venture capital firms to attract and retain the top talent necessary for driving forward the next wave of technological advancements and entrepreneurial success,” said Dawkins.
EVCA’s report can be found here.
About EVCA
EVCA is the primary community for the emerging (pre-partner & junior partner) venture capital investor. Founded in 2017, our 1350+ investors come from a diverse assortment of backgrounds to share insights on industry verticals, co-investment opportunities, career planning, community service, and personal interests.
For more information, visit evca.org
Media Contacts
Spencer Tsao, EVCA
[email protected]
Michael Celiceo, CodePR
[email protected]
SOURCE Emerging Venture Capital Association
