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🇺🇸2025 Compensation Report🇺🇸
Happy Fourth! 🇺🇸The Compensation Report Is Here - Download inside
James Howl-Newton
July 04, 2025
Happy Friday and happy Fourth of July! 🎆
While you enjoy the holiday, grab the brand-new 2025 Private-Credit Compensation Report. It is packed with salary, bonus, and carry data across multiple strategies. Download the PDF below, then scan the week’s headlines.
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🏦 This Week’s Private-Credit Headlines
Headline | Why It Matters |
|---|---|
Tokenised real-world assets reach $24 B. Private credit now powers half of the market (Cointelegraph) | On-chain wrappers are moving from pilots to scale. Digital coupons could widen distribution for mid-market loans and create new roles in structuring. |
Millennium, Point72 and Third Point launch private-credit arms (FT) | Multi-strategy hedge funds want sticky income and double-digit IRRs. Expect bidding wars for origination teams and higher guaranteed pay packages. |
Direct lenders reject JPMorgan loan-trading push (Bloomberg) | Managers prefer mark-to-model opacity instead of daily marks. Banks stay revolving-line providers, not market-makers, for now. |
Takeaway: New entrants and tokenisation expand the asset class, yet incumbents still guard price discovery and secrecy.
🧑💼 Career Insights
Fresh numbers: Median Associate cash comp is $255 k and Principals earn $523 k.
Hiring pulse: Search activity pauses for the long weekend but resumes Monday. Offer letters are expected to fly before Labor Day.
Bonus chatter: Early desk talk suggests bigger bonus pools than 2024, thanks to wider spreads booked in Q2.
🧠 Inside the 2025 Compensation Report
New Feature | Quick Stat |
|---|---|
Pay tables for Direct Lending, CLOs, Special Situations, Opportunistic and more | CLO Managing Director median cash reaches $1.1 M |
Pay-mix heat map (cash, deferred, carry) | Carry allocations hit 500 bps at top funds |
Three-year trend lines by title | Associate pay grew about 10 percent CAGR since 2021 |
The report also includes a heat map of median pay, stacked pay-mix charts and compensation forecasts through 2027.
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💬 Final Thought
Capital is abundant but talent is the bottleneck. After the fireworks, review the new comp benchmarks and budget for the freedom premium that top Associates command.
See you next Friday!
— James
Founder, career.credit & Futura Search Partners