1、FINANCIAL SERVICES PRACTICE 2022 North American Alternative Asset Management Marketing and Investor Relations Professional Compensation SurveyContentsA message from the authors 3Methodology 4Alternative asset management market context 5Compensation trends,20192021 142022 NORTH AMERICAN ALTERNATIVE A

2、SSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY2 A message from the authorsWelcome to our third annual North American Alternative Asset Management Marketing and Investor Relations Professional Compensation Survey.Together with our surveys of private equity investmen

3、t and operating professionals,this report provides a comprehensive picture of the compensation that North American executives in the hedge fund,real estate,and private equity industries currently receive.For this report,Heidrick&Struggles compiled compensation data from a survey of 333 alternative a

4、sset management marketing and investor relations professionals in North America who are employed in private equity,hedge funds,or real estate.We hope you enjoy reading the report,which remains the only one of its kind.As always,suggestions are welcome,so please feel free to contact usor your Heidric

5、k&Struggles representativewith questions and comments.With warmest regards,On confidentialityThe North America alternative asset management marketing and investor relations professional compensation survey,2022,was conducted on an anonymous basis.Graham BeattyPartner Financial Services PPaul Charles

6、Partner Financial Services PJohn HindleyPartner Financial Services P Diverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES3 MethodologyIn an online survey in the field in the summer of 2022,we asked participants to provide their compensatio

7、n data for 2019,2020,and 2021.All data collected was self-reported by the survey respondents and has been aggregated to evaluate trends in cash base salary and bonus compensation packages.2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURV

8、EY4 Alternative asset management market contextOverview This years survey of compensation of marketing and investor relations professionals in the hedge fund,real estate investment,and private equity industries is set in the context of a fundraising market that has remained robust for the past two y

9、ears.At the time of writing,we are beginning to expect a slowdown,though evidence is limited as of yet.Though the market has been robust,demand for fundraisers with proven track records has only increased,and we have seen a premium being paid for the best.We are also seeing firms diversify their lim

10、ited partner bases and seek out alternative asset management professionals for more specialized rolesfor example,those that are channel or region specific.On the venture side,funds have particularly been seeking investor relations experts.For a time,there was a concern within hedge funds that people

11、 were moving from the liquid alternative assets to digital assets;we expect digital assets will continue to be a growth area,though fundraising may lag,specifically for hedge funds or cryptocurrency funds.On the whole,however,across these functions,we believe that fundraising is the best place to at

12、tract diverse talent.As firms continue to diversify their products and markets,the need to build out investor relations fundraising teams and hire specialists can suggest a demand for a more diverse pool of talent.In addition,in the private capital space in particular(as for hedge funds in previous

13、years),we are seeing a younger bench of talent with fundraising experience and the motivation to take on senior roles.Compensation by gender varies in the three sectors,with the reported compensation closest to parity in hedge funds and least equal in real estate.Fundraising and firm performanceMore

14、 than a quarter of respondents reported more than$5 billion in new money raised in 2021,with 16%raising more than$10 billion.Only 10%of respondents reported raising no new money,a decrease from last years 14%,and only 5%of respondents reported no new net assets raised in 2021,a decrease from last ye

15、ars 8%.In terms of new assets,about one-third of respondents(34%)reported raising more than$500 million in new assets.This is higher than last years 25%.Firm performance trends(%)N/ANew net assets raised,2021New money firm raised,2021N/A$251m$500mNone$501m$1bnLess than$100mMore than$1bn$101m$250m$5b

16、n$10bnMore than$10bnLess than$1bnPrefer not to answer$1bn$5bnPrefer not to answer3109Note:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=26

17、1 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=259 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&

18、STRUGGLES5 Down 20%or moreDown 20%or more2021 performance vs.2021 performance expectations2022 performance expectationsUp less than 10%Up less than 10%Down 10%20%Down 10%20%Up 10%20%Up 10%20%Down less than 10%Down less than 10%Up 20%or moreUp 20%or moreFlatFlatPrefer not to answerPrefer not to answe

19、r2300023535188Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=261 investment professionals;and Heidrick&Struggles North America alternative asset management marketing and investor rela

20、tions professional compensation survey,2021,n=320 investment professionalsNote:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=260 investment professionals2021 pe

21、rformance2021 expectationsFirm performance trends(%),continuedThe reported performance for 2021 generally fell below last years report respondents expectations,except at the very top,where 18%reported performance up 20%or more,while only 13%had predicted such a bump.Expectations for 2022 are,on the

22、whole,positive.Just over half of respondents expect an increase,though only 5%expect to be up 20%or more.2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY6 New net assets raised,by AUM(%)Less than$1bn$1bn$5bn$5bn$10bn$10bn$30bnZero0106

23、1271496Under$100m623576$101m$250m71377$251m$500m00691417$501m$1bn2621More than$1bn7715153027More than$30bnNew money raised in 2021New money raised in 202054541333Source:Heidrick&Struggles North America alternative asset management marketing and investor re

24、lations professional compensation survey,2022,n=261 investment professionals;and Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2021,n=322 investment professionalsDiverse region,inclusive workforces:Diversity and inclus

25、ion policy and practice in Asia PacificHEIDRICK&STRUGGLES7 DemographicsDemographics(%)The alternative asset executives who responded to this years survey were generally senior,with the highest share being managing director/director.Forty-one percent of respondents were in sales and investor relation

26、s,covering a wide range of products and investments.Managing directorTitlePrincipalDirectorAssociatePartnerPrefer not to answerVice presidentAnalystOther388229811Sales and investor relationsRoleHead of sales(manager)Sales individual producerSales management and strategyHead of sales(player-coach)Con

27、sultant relationsProduct specialistOther41517416495OtherEndowments/foundationsInvestments coveredConsultantsSovereign wealth funds/international pension fundsFamily officePublic pensionsRetail/wealth managementCorporate pensionsTaft-Hartley79737963784876379022Note:Numbers may not sum to 100%,due to

28、rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=333 investment professionals2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY8 Demog

29、raphics(%),continuedSpecific products covered by product type(%)Private credit(in long locked format)Products coveredProduct typeFund of fundsPrivate equityCryptocurrenciesHedge fundsOtherReal estatePrivate equity/creditOtherHedge fundsReal estateCryptocurrencies52771145364Direct lendingP

30、rivate equity/creditDistressed/special situationsBuyoutCo-investGrowthMezzanine lendingStructured credit and CLOsSecondariesVenture795635626255584129Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=333 inves

31、tment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=170 investment professionalsCreditHedge fundsDistressed/special situationsEquity long shortDirectional equityMulti-strategySystematic strat

32、egiesStructured credit and CLOsMacroRelative value strategiesArbitrage strategies52262348332530232112Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=132 investment professionalsThough most cryptocurrency fu

33、nds are relatively small,we have seen a proliferation of those firms,and we expect those to grow,despite this years disruptions.Diverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES9 Products covered(%)Private equityPrivate credit(in long l

34、ocked format)Real estateHedge fundsFund of fundsCryptocurrenciesOtherNETPrivate equity100%51%42%31%19%4%6%100%Private credit(in long locked format)50%100%46%42%16%5%10%100%Real estate60%67%100%33%23%5%9%100%Hedge funds38%53%29%100%19%9%8%100%Fund of funds83%70%68%65%100%15%13%100%Cryptocurrencies54%

35、69%46%92%46%100%15%100%Other31%49%31%31%14%6%100%100%Forty-two percent of respondents covered only one product,and 29%two;relatively few covered more than two.Of those covering two products,the two were most often private equity and private credit,and private credit and real estate.Of individuals wh

36、o covered cryptocurrencies,69%also covered private credit,and 92%also covered hedge funds.Real estate,closed end,equity/special situationsReal estateReal estate,open end,equityInfrastructure,equityInfrastructure,debtReal estate,debtSeparately managed accounts634456502944Source:Heidrick&Struggles Nor

37、th America alternative asset management marketing and investor relations professional compensation survey,2022,n=117 investment professionalsSpecific products covered by product type(%),continued2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATI

38、ON SURVEY10 Number of products coveredCount%of total respondents35641710Most common product pairsCountPrivate equity and private credit87Private credit and real estate80ProductsCountPrivate equity170Private credit(in long locked format)173Real estate120Hedge funds137Fund of fun

39、ds40Cryptocurrencies13Other35NET333Note:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=133 investment professionalsA little more than a third of the respondents

40、to this years survey had more than 20 years of work experiencea lower share than the previous year.Though a higher share had more work experience,a higher share also had less alternative asset fundraising management experience:46%of respondents had 10 years or fewer,compared to 37%last year.This sup

41、ports the idea that firms are casting their nets wider.Indeed,even 7%of partners reported having five years or fewer of alternative asset fundraising experience.Those with 11 to 15 years of experience seem to have the widest range of titles:25%of associates have 11 to 15 years of experience,54%of vi

42、ce presidents,68%of principals,51%of directors,18%of managing directors,and 7%of partners.Less than 6Total years work experienceYears of asset management fundraising experienceMore than 2061011151620Less than 31620More than 20356241417783431Note:Numbers may not sum to 100%,due to rounding

43、.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=333 investment professionalsExperience(%)Diverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES11

44、Title,by years of total work experience(%)Less than 661011151620More than 20Title,by years of asset management fundraising experience(%)Associate25636363438Vice presidentDirectorPartnerManaging directorAnalyst000000000PrincipalNote:Numbers may not sum to 100%,due to rounding.So

45、urce:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=333 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation surv

46、ey,2022,n=333 investment professionals577Less than 661011151620More than 20Associate232425252Vice presidentDirectorPartnerManaging directorAnalyst000000000000Principal022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSI

47、ONAL COMPENSATION SURVEY12 In terms of their firms,nearly half of respondents were at a firm with more than$30 billion under management.Company information(%)AUMSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022

48、,n=333 investment professionals212022Less than$1bn$1bn$5bn$5bn$10bn$10bn$30bnMore than$30bnWas at a different firm last yearJust over half of the respondents were men,and nearly three-quarters were white.WhiteEthnicityBlack/African AmericanNative Hawaiian/Pacific IslanderMixedO

49、therNative American/Alaska NativeArab/Arab American/Middle EasternPrefer not to answerAsian/Asian AmericanHispanic/Latinx313738311Note:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compen

50、sation survey,2022,n=259 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=261 investment professionalsDiversity(%)Gender00053416MenWomenPrefer not to answerDiverse region,inclusive wo

51、rkforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES13 Compensation 2021:Private equity/credit(USD,thousands)Median base7751,0567756066634258257567131,0757385131,03886816751,513Median bonusMedian total cash compensationRole typeTitleYears of asset managem

52、ent experienceAUM 20224502507503254502383502384502384502386502632501882502381,8450238550263750288750356350238350263450263450263550238OverallOtherPrincipalVice presidentManaging directorPartnerLess than 6 years61011151620More than 20Less than$1bn$1bn$5bn$5bn$10bn$10bn$30bnMore than$30bnDir

53、ectorSales individual producerSales and investor relationsHead of salesCompensation trends,20192021OverallCompensation for alternative asset marketing and investor relations professionals in all three sectors on the whole rises with seniority,though there is some variation.In both private equity/cre

54、dit and real estate,those at the principal level reported higher median total cash compensation than those at the director level.This could be due to the fact that different firms weigh the titles differently,or perhaps there is a certain amount of title inflation.Its also notable that total cash co

55、mpensation at hedge funds and real estate firms with$1 billion to$5 billion in AUM outperformed that of firms in the same sectors with$5 billion to$10 billion in AUM,and at private equity firms,those with$5 billion to$10 billion in AUM slightly outperformed that of firms with$10 billion to$30 billio

56、n in AUM.This could indicate that the slightly smaller firms have to pay a premium to retain talent.Viewed by industry sector for 2021,professionals in hedge funds surpassed the other two sectors in median total cash compensation,1 while compensation by gender varies in the three sectors,with the re

57、ported compensation closest to parity(though still unequal)in hedge funds and least equal in real estate.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=214 investment professionals1 Median total cash compe

58、nsation figures are not always the total of median base and median bonus figures,because not all respondents received a bonus.2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY14 Compensation 2021:Hedge funds(USD,thousands)Compensation

59、2021:Real estate(USD,thousands)Median baseMedian base8137881,1751,057563857887755135567751,03899468,3881,200888888979066881,5752,013Median bonusMedian bonusMedian total cash compensationMedian total cash compensationRole typeRole typeTitleTitleY

60、ears of asset management experienceYears of asset management experienceAUM 2022AUM 2022550238850325450238450238450226331,2504502002004502385502388502631,37502384502383502386502384507504502502504506502002501,6252504505507507502503002505006002633252502382238

61、38854503238OverallOverallOtherOtherPrincipalPrincipalVice presidentVice presidentManaging directorManaging directorPartnerPartnerLess than 6Less than 661516201620More than 20More than 20Less than$1bnLess than$1bn$1bn$5bn$1bn$5bn$5bn$10bn$5bn$10bn$10bn$30bn$10bn$30bnM

62、ore than$30bnMore than$30bnDirectorDirectorSales individual producerSales individual producerSales and investor relationsSales and investor relationsHead of salesHead of salesSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensati

63、on survey,2022,n=99 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=131 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asi

64、a PacificHEIDRICK&STRUGGLES15 Over the three years from 2019 to 2021,we saw some changemostly increasesyear over year,but a bit less than might have been expected.Compensation of respondents at hedge funds seemed to perform the best,with no year-over-year decreases,while those at private equity/cred

65、it funds with less than$1 billion in AUM saw a total cash compensation decrease of 16%,and those at real estate firms with less than$1 billion in AUM seeing a 21%decrease in base compensation.Percent growth,20192021Compensation trends,20192021:Private equity/creditBaseBonusTotal cash compensation171

66、27233223232323230299808402229802257572236336565982392000OverallHead of salesSales individual producerSales and investor relationsOtherVice presidentPrincipalDirectorManaging directorPartnerL

67、ess than 6 years610 years1115 years1620 yearsMore than 20 yearsLess than$1bn$1bn$5bn$5bn$10bn$10bn$30bnMore than$30bnBuyoutGrowthCo-investVentureSecondariesDistressed/special situationsDirect lendingMezzanine lendingStructured credit and CLOsSource:Heidrick&Struggles North America alternative asset

68、management marketing and investor relations professional compensation survey,2022,n=214 investment professionals2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY16 OverallHead of salesSales individual producerSales and investor relatio

69、nsOtherVice presidentPrincipalDirectorManaging directorPartnerLess than 6 years610 years1115 years1620 yearsMore than 20 yearsLess than$1bn$1bn$5bn$5bn$10bn$10bn$30bnMore than$30bnEquity long shortDirectional equityArbitrage strategiesSystematic strategiesDistressed/special situationsCreditStructure

70、d credit&CLOsMacroRelative value strategiesMulti-strategyPercent growth,20192021Compensation trends,20192021:Hedge funds22131541Base22380222222223611404044BonusTotal cash compensation23232323434346202020730010000

71、00000000Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=131 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES17 Overal

72、lHead of salesSales individual producerSales and investor relationsOtherVice presidentPrincipalDirectorManaging directorPartnerLess than 6 years610 years1115 years1620 yearsMore than 20 yearsLess than$1bn$1bn$5bn$5bn$10bn$10bn$30bnMore than$30bnReal estate,open end,equityReal estate,closed end,equit

73、y/special situationsReal estate,debtInfrastructure,equityInfrastructure,debtSeparately managed accountsPercent growth,20192021Compensation trends,20192021:Real estateBaseBonusTotal cash compensation403020389293353394628252852744222244445757050505023367673367167232324

74、743500714Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=99 investment professionals2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATI

75、ONS PROFESSIONAL COMPENSATION SURVEY18 Base(USD,thousands)Compensation trends,20192021:Private equity/credit205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th percentileOverall8238325213250325Role typeHead of sales2382633252382883

76、25238325388Sales individual producer8225309188238325Sales and investor relations8238288213238325Other82263TitleVice president58238Principal82325Director82263Managing director22633

77、25238263325Partner288388450325388450325450450Asset management experience(years)Less than 6582263323832588226338825238288325238288325More than 20238325450288356450263356450AUM 2022Less than$1bn238238325238263325238238325$1bn

78、$5bn3238325213263372$5bn$10bn8238388238263388$10bn$30bn8238288188263325More than$30bn8238325213238325Investment type82383252238288326332582383253232522325821

79、32883263325823832522325238263325BuyoutGrowthCo-investVentureSecondariesDistressed/special situations Direct lendingMezzanine lendingStructured credit and CLOs8238325213238325Source:Heidrick&Struggles North America alternative asset management ma

80、rketing and investor relations professional compensation survey,2022,n=214 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES19 Bonus(USD,thousands)Compensation trends,20192021:Private equity/credit205t

81、h percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th percentileOverall0350750250450750Role typeHead of sales4506501,1254507501,1254507501,125Sales individual producer250250450250350450250450650Sales and investor relations025055025035065

82、0Other0350650250450750TitleVice president7525075250325Principal0250450250450550Director0250350250250450Managing director250550750350550850450650950Partner4751,0381,3754501,1251,3755501,1251,625Asset management experience(years)Less than 67535015

83、02503506045065050250450825275550850504505509505507501,125More than 205509001,1255509381,3753507501,625AUM 2022Less than$1bn250450725250450725250350700$1bn$5bn0350850250350825$5bn$10bn0350950250450750$10bn$30bn02504502504505

84、50More than$30bn250450650250450750250550950Investment type0450850250450850035075025045085003506502504507500350650250450750250450550250450650250450750250450750250450850250550950250350650250450750250550950250350725250450825350550925BuyoutGrowthCo-investVentu

85、reSecondariesDistressed/special situations Direct lendingMezzanine lendingStructured credit and CLOs250450750250450850350550950Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=214 investment professionals202

86、2 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY20 Total cash compensation(USD,thousands)Compensation trends,20192021:Private equity/credit205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentil

87、eMedian75th percentileOverall3635699004386381,0134887751,075Role typeHead of sales7758941,3637751,0441,5758131,0561,575Sales individual producer4385766463775913Sales and investor relations3500838463606975Other35758884386631,075TitleVice president200269406244300484294

88、425538Principal3488688463713788Director3384635634513738Managing director5387881,0756389131,2007389131,213Partner8001,4881,7788381,5751,8251,0001,5132,022Asset management experience(years)Less than 620033843820038847528843856363635637884636868,07

89、55668251,751,1386388381,2389131,0751,450More than 208881,3311,4509381,2811,7007381,0381,950AUM 2022Less than$1bn4697311,0284697811,0414886131,056$1bn$5bn35501,1844666751,125$5bn$10bn3386381,0133385501,3384887561,000$10bn$30bn338463738400538688438738838More than$30bn4

90、6881,0754888131,275Investment type3886131,0754636751,3005137751,2753385381,0004135881,0754887381,2003635639004386389754637131,04005639004637131,00046639754887381,0754136381,0134386751,0755138131,44446691,0754888131,1974385881,0094696751,1035948251,197BuyoutGrowthCo-i

91、nvestVentureSecondariesDistressed/special situations Direct lendingMezzanine lendingStructured credit and CLOs4386381,0134886751,1885388131,200Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=214 investment

92、professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES21 Base(USD,thousands)Compensation trends,20192021:Hedge funds205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th pe

93、rcentileOverall8238288213238325Role typeHead of sales238263325238288325263325388Sales individual producer8238325188238325Sales and investor relations82263Other33263TitleVice president58263Principal4200

94、303169256325Director82238Managing director2238325238263325Partner2634450288450450Asset management experience(years)Less than 64022638238325632238325883263288More than 2

95、0238288388263306450263306450AUM 2022Less than$1bn3263325188263325$1bn$5bn8238263213238288$5bn$10bn82263$10bn$30bn9238288188238288More than$30bn8238288213238325Investment type823828882383252238325163213

96、2883238263323832522383252238288323828822288222526332503258238325213238325Equity long short Directional equity Arbitrage strategies Systematic strategies Distressed/special situations CreditS

97、tructured credit and CLOsMacroRelative value strategies Multi-strategy8238325213263325Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=131 investment professionals2022 NORTH AMERICAN ALTERNATIVE A

98、SSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY22 Bonus(USD,thousands)Compensation trends,20192021:Hedge funds205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th percentileOverall0450850250550950Ro

99、le typeHead of sales4507501,1255507501,3755508501,375Sales individual producer250350550250350450250450650Sales and investor relations0350750250450850Other0350650250450750TitleVice president7525075150250Principal9430052594300450150300450Director025035025035

100、0650Managing director3505507504506508504506501,125Partner8501,1251,3751,1251,1251,3751,1251,2502,125Asset management experience(years)Less than 67532575200325625035065025045075050250450850350550850504507501,1256508501,125More than 206501,0381,1256509381,12

101、57501,1251,625AUM 2022Less than$1bn0250650250450550$1bn$5bn250550850350550,125$5bn$10bn0350650250450750$10bn$30bn5250425250350875More than$30bn2504506502504508503506501,125Investment type2504507502504509503504501,02503507502504501,150

102、3505502504506502504506502504506503504506500450850250450950045085025055085004508502505501,02504506503504507252504506502504507502505501,125Equity long short Directional equity Arbitrage strategies Systematic strategies Distressed/special situations CreditStr

103、uctured credit and CLOsMacroRelative value strategies Multi-strategy250350750250350750350450750Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=131 investment professionalsDiverse region,inclusive workforces

104、:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES23 Total cash compensation(USD,thousands)Compensation trends,20192021:Hedge funds205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th percentileOverall38866397543867

105、51,1134638131,188Role typeHead of sales7759751,3387751,0751,6138381,1751,613Sales individual producer4563738463688913Sales and investor relations36381,0134387001,138Other35758884136381,075TitleVice president20034Principal2500753319556

106、775Director3384886384588863Managing director5758001,0756389131,2386889131,388Partner9751,5751,6381,2881,5751,8251,3881,5752,513Asset management experience(years)Less than 62003255350425538647311,075885387251,0636758061,631,1386759751,

107、3139131,0381,450More than 208881,3811,5759381,2191,5759881,3882,075AUM 2022Less than$1bn3137131,07547131,000$1bn$5bn4757381,1385637751,3386389061,388$5bn$10bn3636631,0463775988$10bn$30bn28450072235658,131More than$30bn47131,1385138881,413Investment type438

108、7131,0134386751,2385138001,33836351,0754636881,450356390046368894386889755387889883387751,0633637131,1134638881,1633636881,0134386881,0754638131,1633636631,0134387131,1754638631,388468754386639004137311,0754638751,388Equity long short Directiona

109、l equity Arbitrage strategies Systematic strategies Distressed/special situations CreditStructured credit and CLOsMacroRelative value strategies Multi-strategy4386691,0134386811,0135138061,075Source:Heidrick&Struggles North America alternative asset management marketing and investor relations profes

110、sional compensation survey,2022,n=131 investment professionals2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY24 Base(USD,thousands)Compensation trends,20192021:Real estate205th percentileMedian75th percentile25th percentil

111、eMedian75th percentile25th percentileMedian75th percentileOverall8238325188263325Role typeHead of sales238275372238288388263325388Sales individual producer8225325188250325Sales and investor relations8225238188238263Other33238TitleVice president1

112、2582Principal38238Director9200238188238263Managing director2263325238263325Partner263325450263325450325388450Asset management experience(years)Less than 64832638238325381882382632

113、02275325244275325More than 202450450263450450AUM 2022Less than$1bn3238325125188325$1bn$5bn3288434219356450$5bn$10bn758238188250263$10bn$30bn2263281238263316More than$30bn8238325188238325Investment typeReal estate

114、,open end,equity32383Real estate,closed end,equity/special situations8238325213263325Real estate,debt3238325213263325Infrastructure,equity8238325238263325Infrastructure,debt8263388238325450Separately managed accounts8238288

115、188250325Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=99 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES25 Bonus(

116、USD,thousands)Compensation trends,20192021:Real estate205th percentileMedian75th percentile25th percentileMedian75th percentile25th percentileMedian75th percentileOverall0350650250450750Role typeHead of sales3756501,1253755501,3135507501,375Sales individual producer250300550250

117、350525275450650Sales and investor relations750550250250650Other0250450150250550TitleVice president757525075250Principal0350450150450550Director5250325250250450Managing director250450750350450650450650750Partner5501,1251,3754501,1251,3751,1251,62

118、52,125Asset management experience(years)Less than 6752509425025060450650500550725253005001,0314007501,125More than 205508501,125757501,1255507501,125AUM 2022Less than$1bn75754507501,125$1bn$5bn250425175300625$5bn

119、$10bn75350250250550$10bn$30bn25030098005001,031More than$30bn250450650250450650250600850Investment typeReal estate,open end,equity250400625250450625350600750Real estate,closed end,equity/special situations0450650250550850Real estate,debt04501,1252506501,12

120、5Infrastructure,equity250350650250450650250550850Infrastructure,debt2504508503504501,1254505501,125Separately managed accounts5350625250550750Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=99 in

121、vestment professionals2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY26 Total cash compensation(USD,thousands)Compensation trends,20192021:Real estate205th percentileMedian75th percentile25th percentileMedian75th percentil

122、e25th percentileMedian75th percentileOverall33856394637881,038Role typeHead of sales6349441,5446508941,6418561,1251,691Sales individual producer438525784438575775481775913Sales and investor relations2004788438575913Other2753386383513788TitleVice president200219413263

123、300438313375488Principal2755386383775788Director3438550438513703Managing director5137131,0135637751,0007009131,175Partner7881,5751,7637751,5751,8251,4502,0132,513Asset management experience(years)Less than 620034382784064386363588875463735387884

124、5661,025,1225567751,3286889941,450More than 201,0001,30014505251,0131,5751,0001,2001,575AUM 2022Less than$1bn20037753383751,450$1bn$5bn34450088433881,028$5bn$10bn33385$10bn$30bn4635501,29757751,309More than$30bn4

125、6881,0004638881,175Investment typeReal estate,open end,equity46889315948881,038Real estate,closed end,equity/special situations46889004388381,175Real estate,debt4136881,1634137381,4134638881,450Infrastructure,equity46751,0005138131,175Infrastructure,debt5137881,13856

126、37751,4136889001,450Separately managed accounts46509094388631,038Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=99 investment professionalsDiverse region,inclusive workforces:Diversity and inclu

127、sion policy and practice in Asia PacificHEIDRICK&STRUGGLES27 CarryForty-four percent of respondents said they receive carry.Seventy-one percent of those say it vests in a straight-line structure.The most common amount of time for the maximum carry to vest is five years,and 45%of respondents say that

128、 it vests based on the time from inception of each new fund.Looking across all funds,median carry is highest at hedge funds.Last year,PE firms edged them out at the 75th percentile,but this year hedge funds significantly outperformed.Vesting structureTime for max amount of carry to vestStraight line

129、CliffOther20719Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=100 investment professionalsDo you receive carried interest?Basis upon which carried interest vestsCarried interest(%)Source:Heidrick&Struggles

130、 North America alternative asset management marketing and investor relations professional compensation survey,2022,n=275 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=97 investment

131、 professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=97 investment professionalsNoYes5644Time from inception of each new fundAfter the first-year anniversary of the fund closingAfter the first-year

132、 anniversary of the deal closingOther45228127One yearsSix yearsTwo yearsSeven yearsThree yearsEight yearsFour yearsNine yearsFive yearsTen years22332022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY28 Carry(USD,thousands)Comp

133、ensation trends,20192021:Private equity/creditCurrent fund25th percentileMedian75th percentileOverall1,0002,0002,000Role typeHead of sales5002,0004,000Sales individual producer1,0002,1004,000Sales and investor relations9001,5004,000Other1,0002,5005,500TitleVice president7501,2505,500Principal5001,00

134、02,000Director5009401,500Managing director1,0002,0004,000Partner1,4754,0009,250Asset management experience(years)Less than 61,1251,7508,0006107501,1002,07511151,0001,5004,50016208004,0006,000More than 202,5003,0005,000AUM 2022Less than$1bn8801,5003,000$1bn$5bn1,0001,5003,460$5bn$10bn2,5003,00010,000

135、$10bn$30bn1,0001,7502,000More than$30bn6002,0005,500Investment type1,0002,0004,0005002,0004,0001,0002,1004,0009001,5004,0001,0002,5005,5007501,2505,5005001,0002,0005009401,500BuyoutGrowthCo-investVentureSecondariesDistressed/special situations Direct lendingMezzanine lendingStructured credit and CLO

136、s1,0002,0004,000All funds25th percentileMedian75th percentile1,5003,0006,9951,0003,00010,5002,0004,0005,0001,5003,5008,1201,0252,7506,3751,0002,9256,5007751,6803,1251,0001,3751,5001,6004,00010,0003,0006,00010,5001,5003,00010,0001,0001,7304,8381,5003,5006,5001,0004,00010,0002,0003,00010,0001,2502,500

137、3,0001,5003,5006,2503,1754,50010,3751,5002,0006,0001,0003,0008,1201,5003,0006,9951,0003,00010,5002,0004,0005,0001,5003,5008,1201,0252,7506,3751,0002,9256,5007751,6803,1251,0001,3751,5001,6004,00010,000Source:Heidrick&Struggles North America alternative asset management marketing and investor relatio

138、ns professional compensation survey,2022,n=79 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=76 investment professionalsDiverse region,inclusive workforces:Diversity and inclusion p

139、olicy and practice in Asia PacificHEIDRICK&STRUGGLES29 Carry(USD,thousands)Compensation trends,20192021:Hedge fundsCurrent fund25th percentileMedian75th percentileOverall1,0002,0004,000Role typeHead of sales1,2502,5004,000Sales individual producer7502,3003,625Sales and investor relations7889501,375O

140、ther1,6253,5008,750TitleVice presidentN/AN/AN/APrincipal300300300Director1,5001,5001,500Managing director1,2502,0005,000Partner1,0003,2504,000Asset management experience(years)Less than 62,0002,0002,0006101,2502,1002,50011151,0001,2501,50016201,5637,25010,500More than 202,0004,0005,000AUM 2022Less t

141、han$1bn2,0006,25010,500$1bn$5bn1,0001,0001,250$5bn$10bn2,5005,00010,000$10bn$30bn1,5001,5001,500More than$30bn1,0002,0503,500Investment type1,0002,0004,0001,2502,5004,0007502,3003,6257889501,3751,6253,5008,750N/AN/AN/A3003003001,5001,5001,500BuyoutGrowthCo-investVentureSecondariesDistressed/special

142、situations Direct lendingMezzanine lendingStructured credit and CLOs1,2502,0005,000All funds25th percentileMedian75th percentile1,2503,50010,0001,2503,50010,5002,5004,1504,8257881,2003,3752,0006,00010,000N/AN/AN/A2,0002,0002,0001,5001,5001,5002,0004,0005,0001,0007,00010,500N/AN/AN/A1,2504,3005,0001,

143、5002,0003,5001,5637,25015,7501,2506,00010,3752,0006,25010,5001,0001,2504,0005,0007,50010,0001,5001,5001,5002,0003,5004,3001,2503,50010,0001,2503,50010,5002,5004,1504,8257881,2003,3752,0006,00010,000N/AN/AN/A2,0002,0002,0001,5001,5001,5002,0004,0005,000Source:Heidrick&Struggles North America alternat

144、ive asset management marketing and investor relations professional compensation survey,2022,n=21 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=19 investment professionals2022 NORTH

145、 AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY30 Carry(USD,thousands)Compensation trends,20192021:Real estateCurrent fund25th percentileMedian75th percentileOverall5001,0003,000Role typeHead of sales5001,0003,000Sales individual producer2,000

146、2,1002,500Sales and investor relations5009004,320Other5001,0002,000TitleVice president250250250Principal300500500Director200350500Managing director5001,5002,875Partner1,0002,5004,000Asset management experience(years)Less than 61,0001,0001,0006105002,0002,500,00016202881,7505,155More than

147、201,0002,5003,000AUM 2022Less than$1bn1,0001,0001,000$1bn$5bn5001,0003,000$5bn$10bn2,5002,5002,500$10bn$30bn5,5409,98010,500More than$30bn5009502,400Investment type5001,0003,0005001,0003,0002,0002,1002,5005009004,3205001,0002,000250250250300500500200350500BuyoutGrowthCo-investVentureSecondariesDistr

148、essed/special situations Direct lendingMezzanine lendingStructured credit and CLOs5001,5002,875All funds25th percentileMedian75th percentile1,0002,0006,4101,0002,0005,0004,0004,3005,0001,0503,8758,1657002,0002,0006506506507007002,0001,5001,5001,5001,0002,0005,0003,0009,00010,5003,0003,0003,0001,5004

149、,65010,1251,0001,0002,0004632,5007,8132,0003,0006,2503,0003,0003,0001,0002,0006,2505,0005,0005,0008,75010,50010,5009002,0005,0001,0002,0006,4101,0002,0005,0004,0004,3005,0001,0503,8758,1657002,0002,0006506506507007002,0001,5001,5001,5001,0002,0005,000Source:Heidrick&Struggles North America alternati

150、ve asset management marketing and investor relations professional compensation survey,2022,n=32 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=31 investment professionalsDiverse reg

151、ion,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES31 Other compensation trendsCash bonuses(%)The majority of survey respondents did not receive a one-time bonus.However,for those that did,half received a payment of more than$200,000,and 15%received

152、 a payment of more than$500,000.Of those who did receive a one-time cash bonus,47%were those with more than 20 years of experience.Range of one-time bonusNote:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relat

153、ions professional compensation survey,2022,n=41 investment professionalsReceived a one-time cash bonus?Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=277 investment professionalsNoYes8416Paid discretionary

154、 vs.formulaicSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=276 investment professionalsDiscretionaryFormulaic1387$100,000 or lessMore than$500,000$100,001$200,000$200,001$300,000$300,001$500,0002915222015

155、2022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY32 EthnicityDemographics of those who received a one-time cash bonus in 2021(%)WhiteArab/Arab American/Middle EasternPrefer not to answerBlack/African AmericanAsian/Asian AmericanHispani

156、c/LatinxNative American/Alaska NativeNative Hawaiian/Pacific IslanderOtherMixed781180030000Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=37 investment professionalsTotal years of work experienceLess than

157、6More than 2064723921Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=43 investment professionalsYears of Asset management fundraising experienceLess than 31620More than 203563742Source

158、:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=43 investment professionalsNote:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and inves

159、tor relations professional compensation survey,2022,n=43 investment professionalsManaging directorTitleVice presidentDirectorPrincipalPartnerAssociate49514125AnalystOther1402Diverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES33 Demographi

160、cs of those who received a one-time cash bonus in 2021(%),continued213Note:Numbers may not sum to 100%,due to rounding.Source:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=43 investment professionalsSource:Heidr

161、ick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=277 investment professionalsSource:Heidrick&Struggles North America alternative asset management marketing and investor relations professional compensation survey,2022,n=

162、38 investment professionals02Sales and investor relationsRoleProduct specialistHead of sales(player-coach)Sales management and strategySales individual producerConsultant relationsHead of sales(manager)Other447161479GenderMenWomenPrefer not to answer37585Deferred cash bonus(%)0%202020216020%30%30%40

163、%Less than 10%40%50%10%20%50%60%More than 60%136692140%5720%30%30%40%Less than 10%40%50%10%20%50%60%More than 60%1366112022 NORTH AMERICAN ALTERNATIVE ASSET MANAGEMENT MARKETING AND INVESTOR RELATIONS PROFESSIONAL COMPENSATION SURVEY34 Compensation expectations(%)Source:Heidrick&Struggles North Amer

164、ica alternative asset management marketing and investor relations professional compensation survey,2022,n=275 investment professionalsDown 21%or moreTotal 2022 cash compensation expectations compared to 2021Up less than 10%Down 11%20%Up 11%20%Down less than 10%Up 21%or moreFlatPrefer not to answer42

165、4542516202Looking ahead,60%of respondents expect compensation to increase;16%of respondents expect an increase of 21%or more.Diverse region,inclusive workforces:Diversity and inclusion policy and practice in Asia PacificHEIDRICK&STRUGGLES35 Leaders of Heidrick&Struggles Financial Services PracticeFi

166、nancial Services PracticeHeidrick&Struggles global Financial Services Practice uses our broad and deep experience to find the leaders today who are equipped to address the critical issues of tomorrow.Emerging from global crises while adapting to new markets,the global financial services industry nee

167、ds leaders with the technical skills,creativity,and insight to craft winning strategies in an increasingly data-heavy digital world.With more than 80 consultants in locations around the world,our Financial Services Practice team combines unparalleled search resources with a deeply consultative appro

168、ach.We have strong expertise across all financial services sectors,including:asset management;consumer and commercial finance;financial services infrastructure;financial technology;global markets;hedge funds;insurance;investment banking;private equity;real estate;venture capital;and wealth managemen

169、t.GlobalTodd Taylor Global Managing Partner Dominique Fortier Regional Managing Partner Shadi El Farr Regional Managing Partner Wolfgang Schmidt-Soelch Regional Managing Partner AmericasAsia Pacific and Middle EastEurope and AfricaCopyright 2022 Heidrick&Struggles International,Inc.All rights reserved.Reproduction without permission is prohibited.Trademarks and logos are copyrights of their respective owners.