Newsletter – CVC Edition

The Thelander Digest – Corporate Venture Capital (CVC) Edition

CVC vs. VC Compensation: How Does the Total Cash Compare? 

There are jobs, regardless of type of firm, that are competitive. In August’s Thelander Digest, we’ll explore how compensation for Senior Associates and Associates compares at corporate venture and venture capital firms. Let’s get started! Chart 1 shows the 25th percentile, median, and 75th percentile for total cash for senior associates. Chart 2 shows the 25th percentile, median, and 75th percentile for total cash for associates. The total cash is higher across all percentiles for associates.  Chart 3 shows the 25th percentile, median, and 75th percentile for total cash for senior associates at CVC and VC firms with less than $250 million in total AUM. Our Findings: When looking at

Read More »

Europe vs. USA Compensation

For our July newsletter, in the spirit of the Eurotrip returning for summer, we compared compensation for CEOs and Biologists in Europe and the United States. J.Thelander Consulting surveys globally and all data is reported in USD. Let’s take a look.  Our Findings: Thelander data clearly shows that the United States compensates higher for cash and equity for both positions across almost all percentiles.  Know someone that would find this data interesting?Invite them to subscribe to the Thelander Monthly Digest here.  Do you or your portfolio companies need private company compensation data? Thelander is the only firm to cover the entire private capital

Read More »

What are the Compensation Trends for CVC Unit Leaders?

In July’s Thelander Digest, we explore how the total cash compensation for CVC Unit Leaders has changed since 2021 to uncover trends.  The first graph compares the 25th percentile, median, and 75th percentile for total cash (base salary + bonus, or just base salary) YoY. What does the data tell us? The second graph shows the percentage change in CVC Unit Leader total cash between 2021 and 2023.  The biggest increase can be seen at the 75th percentile.  Our Findings: After analyzing the Thelander data, it’s clear that the most growth in compensation for CVC Unit Leaders was at the higher end of

Read More »

United States vs. EuropeInvestment Professional Compensation

Since Thelander surveys private companies and investment firms globally, we are frequently asked about regional compensation data within the United States and internationally. Per popular demand, July’s Thelander Digest compares how investment professionals are compensated in the United States vs. Europe. Europe data is reported in USD. Let’s take a look! In the first graph we examine the median total cash for investment professionals in the United States and Europe. The job positions range from managing general partner to associate. For this dataset, we looked at venture capital firms with less than $500 million in total AUM. The median total cash is higher for all investment professionals

Read More »

United States vs. Europe: Where Are CVC Units Paid More?

In June’s Thelander Digest, we examine how compensation differs between corporate venture capital units in the United States versus Europe. So where do you think CVC units are paid more? Let’s dig into the data! The first graph shows the median, the 75th percentile, and the maximum total cash for senior investment professionals in the United States vs. Europe. Thelander data shows that all percentiles are higher in the United States when compared to Europe.  The second graph looks at incentives other than base pay and cash bonus. Thelander data shows that the most popular option is “corporate stock only”. This holds true regardless of whether

Read More »

Venture Capital vs. Private Equity: How Does Firm Type Impact Compensation?

In June’s Thelander Digest, we compare managing general partner compensation at venture capital firms to private equity firms. Let’s take a look at the data! About the data: Thelander Data Shows:  The second graph shows us a snapshot of the median, 75th, and maximum total cash and carried interest for managing general partners at venture capital and private equity firms. Thelander data shows that regardless of firm type, compensation is much higher. Here, we see it starting at $1,200,000. After examining the Thelander data above, our main takeaway was that the type of firm makes less of a difference in compensation than the total assets

Read More »

What are the Compensation Trends for Research & Development Positions? 

In June’s Thelander Digest, we examine the different trends impacting compensation for research & development (R&D) positions.  To do this, we looked at our data on how the median total cash and non-founder shares (non-founder equity) has changed since 2019 for two positions: VP and Director of Research & Development (R&D). In order to keep things consistent, we looked at the compensation for companies that have raised between $15 to $89.9 million in total financing. So, what does Thelander data tell us? In the graph below, we find that compensation for VP of R&D has not been as consistent.  Our Findings: After analyzing the data presented above, we can

Read More »

How Should You Customize Investment Firm Compensation Data?

In May’s Thelander Digest, we examine which factors make the biggest difference in investment firm compensation.  So, what filters really make a difference? The Thelander platform allows you to easily customize investment firm data by by four filters: total assets under management, size of most recent fund, type of firm, and region. Plus, the data is real-time and the tables are interactive.  In order to explain which filters truly make a difference in compensation, we break it down by examining the median total cash and carried interest for investment professional II – senior managing director / senior partner. The two charts below customize the

Read More »

A Guide To CVC Compensation

In May’s Thelander Digest, we examine what the compensation landscape looks like for CVC professionals. We do this by looking at the median total cash for four different positions: CVC unit leader, senior investment professional, senior associate, and associate.  First, let’s look at how the compensation for each positions is influenced by the filter: total CVC investment capital under team management. By examining the Thelander data, below are some takeaways:  Now let’s look at the difference in percentage of median total cash for each position by total CVC investment capital under team management. Get More Compensation Data: Participate in the CVC Compensation Survey Today By examining this data, we

Read More »

How Should You Customize Private Company Compensation Data?

When examining compensation data for privately held companies – you want to make sure you are using an apple to apple comparison. Meaning? Private company instead of public.  Now that we’ve established a baseline – the next question is, what filters really make a difference? The Thelander platform allows you to easily customize private company data by five filters including: total amount of financing, region, revenue, and company valuation. Plus, the data is real-time and the tables are interactive.  In order to explain which filters truly make a difference in compensation, we break it down by examining data for a chief scientific officer. The two charts

Read More »

What’s the Compensation Forecast for CVC Professionals? 

In April’s Thelander Digest, we examine what the compensation landscape looks like for CVC professionals.  Last month, J.Thelander Consulting hosted a webinar with DLA Piper and Bell Mason Group to give a full market update, and examine how CVC compensation trends have evolved in recent years. Jody Thelander, founder & CEO of the namesake firm, discussed exclusive insights, which you can watch here if you missed it.  Watch The Webinar Here Below we’ve included a  preview of some data shared in the webinar, along with some key takeaways. Key takeaways from the webinar:  Watch the full webinar to get access to all the exclusive insights that

Read More »

What’s the Compensation forecast for CVC professionals?  

In April’s Thelander Digest, we examine what the compensation landscape looks like for CVC professionals.  Last month, J.Thelander Consulting hosted a webinar with DLA Piper and Bell Mason Group to give a full market update, and examine how CVC compensation trends have evolved in recent years. Jody Thelander, founder & CEO of the namesake firm, discussed exclusive insights, which you can watch here if you missed it.  Watch The Webinar Here Key takeaways from the webinar:  Watch the full webinar to get access to all the exclusive insights that were discussed. Have you participated in the Thelander Investment Firm-CVC Compensation Survey yet? There is no cost to

Read More »

How CVC Unit Structure Impacts Long Term Incentives

In this months Thelander Digest, we explore how CVC Unit Structure and Investment Capital Under Team Management influence what types of long term incentives are offered in addition to base pay and cash bonus. All of the data presented is collected through the Thelander Investment Firm – CVC Compensation Survey. If you are interested in securing free access to a subset of the results or discounted pricing on full access, you can Participate in the Survey at No Cost Want more exclusive data, insights and analysis? Join us for a CVC Compensation Panel Webinar with DLA Piper and Bell Mason Group on March

Read More »

How Does Compensation Vary by Region? 

In March’s Thelander Digest, we examine how median total cash compensation varies across the US for managing general partners and senior associates. The data presented is collected from the Thelander-PitchBook Investment Firm Compensation Survey, which is now open-year round. There are two charts below: By examining the Thelander data above for managing general partners, we see that: Participate In The Investment Firm Compensation Surve By examining the Thelander data above for senior associates, we see that: After reviewing our data from the chart above, we found that total AUM makes the largest difference in compensation rather than region. You can accommodate for cost of living adjustments by using the percentiles on the compensation

Read More »

How are Life Science Male and Female CEOs Compensated Differently?

In the March 2023 Thelander Digest, we examine how the total cash compensation for male and female CEOs at privately held life science companies with more than $50 Million in total financing has changed since 2020.  Stay tuned for the April 2023 Digest where we’ll look at the gender pay gap between tech CEOs!  Participate in the Thelander Private Company Compensation Survey Here for FREE Compensation Data What does the data show us?  The Thelander Digest is powered by real-time compensation data from the Thelander Private Company Compensation Survey There is NO COST to participate and all respondents will receive a complimentary silver subscription for the year. The survey covers

Read More »

Have Equity Distribution Bonuses Grown in Popularity?

In February’s Thelander Digest, we examine if equity / program distribution bonuses have grown in popularity.  Since carried interest can often take a long time to pay off, some firms choose to offer equity or program distribution bonuses. This allows firms to distribute earnings upon the success of a deal. When there’s a hit, a percentage is distributed to the team. Let’s take a look at Thelander data with the two charts below. The Thelander Digest is powered by real-time compensation data from the Thelander Investment Firm Compensation Survey. There is no cost to participate and all respondents will receive free access to a

Read More »

How Has Compensation for Staff-level Engineer Jobs Changed Since 2018?

The Thelander Digest is powered by real-time compensation data from the Thelander Private Company Compensation Survey. There is no cost to participate and all respondents will receive free access to a subset of the results through a silver level subscription.  Participate in the Thelander Private Company Compensation Survey Here for FREE Compensation Data In the February Thelander Digest, we examined how compensation for four engineering jobs and finance positions has changed since 2018.  We looked at data for some of the most tried and true engineering jobs on the market and compared them with two staple finance positions. Here we provide a compensation

Read More »

Is Carried Interest on the Rise for CVC Units?

In February’s Thelander Digest, we explore if carried interest is on the rise for CVC units. By examining the graphs below that illustrate our data from the Thelander Investment Firm-CVC Compensation Survey, we explore notable trends.  The Thelander Digest is powered by real-time compensation data from the Thelander Investment Firm-CVC Compensation Survey. There is no cost to participate and all respondents will receive free access to a subset of the results through a silver level subscription.  Get More Compensation Data: Participate in the CVC Compensation Survey Today By examining the Thelander data on carried interest for CVC units, some key takeaways:  Thelander is the only firm that covers the

Read More »

How Much are Salaries Increasing for CVC Units in 2023?

In this month’s Thelander Digest, we explore how salaries are changing in CVC units. By examining the graph below, we find that 4% more of individuals at CVC units receive a salary increase for 2023 compared to last year. Is AUM a factor in whether or not an individual received a salary increase? The data says yes. We asked if an individual received a salary increase by less than $250M in total investment capital under team management.  “Yes” increased by 28% compared to more than $250M. See graph below. In examining how much salaries increased for CVC units in 2023, we found multiple takeaways:  The base salary is

Read More »

What are Hiring and Compensation Trends for 2023?  

In this Thelander Digest, we look at hiring and compensation trends for 2023 using the results from the recently published Thelander Year-End Merit Increase, Option Pool & Bonus Report.  As our data shows in the graphs below, the percentage of salary increases for staff-level employees went up in every percentile from “for 2021” to “for 2022.” We also take a look at the factors that lead to salary increases for 2023. What trends are we seeing for 2023? The Thelander Private Company Compensation Survey is now open year-round with monthly updated on the online platform. All of the data presented in this newsletter

Read More »

How are Investment Firms Retaining Talent in 2023?

In this month’s Thelander Digest, we examine different trends on how investment firms are retaining their talent for 2023. All of this data comes from our 2022 Year-End Salary Increase & Bonus Survey. Let’s dig in by exploring the numbers!As seen in our charts below, two trends become clear: By examining the final chart, we can see that merit and performance were the most common factors in determining a salary increase for investment professionals. Inflation played more of a factor for salary increases for entry-level analysts. After analyzing our data, we see some notable trends: Want to learn more? The full report is included in a subscription to the

Read More »

Introducing… The Thelander In-House Survey Tool 

As the leading source for compensation data for the private capital markets, we’re excited to announce the launch of the Thelander in-house survey tool, which combines our 25+ years of industry experience surveying privately held companies and investment firms with the power of real-time survey data. Why does it matter?Our new platform provides multiple benefits for users including increased security, confidentially, and real-time data. It also allows us to more efficiently deliver on our mission of bringing pay transparency and excellence to the private capital markets.  What’s new?Private companies and investment firms can now enter their compensation data through the Thelander Survey Tool, as well as

Read More »

Introducing…The Thelander In-House Survey Tool 

As the leading source for compensation data for the private capital markets, we’re excited to announce the launch of the Thelander in-house survey tool, which combines our 25+ years of industry experience surveying privately held companies and investment firms with the power of real-time survey data. Why does it matter?Our new platform provides multiple benefits for users including increased security, confidentially, and real-time data. It also allows us to more efficiently deliver on our mission of bringing pay transparency and excellence to the private capital markets.  What’s new?Private companies and investment firms can now enter their compensation data through the Thelander Survey Tool, as well as

Read More »

Introducing…The Thelander In-House Survey Tool

As the leading source for compensation data for the private capital markets, we’re excited to announce the launch of the Thelander in-house survey tool, which combines our 25+ years of industry experience surveying privately held companies and investment firms with the power of real-time survey data. Why does it matter?Our new platform provides multiple benefits for users including increased security, confidentially, and real-time data. It also allows us to more efficiently deliver on our mission of bringing pay transparency and excellence to the private capital markets.  What’s new?Private companies and investment firms can now enter their compensation data through the Thelander Survey Tool, as well as

Read More »

How Do Bonuses Impact Compensation for Managing Directors/Partners and Senior Associates?

We received a lot of interest in last month’s Thelander Digest where we explored how bonus programs impact the total compensation for managing general partners. So this month, we’re exploring the same thing for Managing Directors/Partners and Senior Associates. For all of these positions, their total cash compensation may be just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? Let’s dive in!  Thelander Key Takeaways: Want more compensation data? Participate in

Read More »

What is the Status of Compensation for Privately Held Companies? 

J.Thelander Consulting hosted a Private Company Compensation Panel Webinar where we took a deep dive into compensation trends and shared a preview of the results from our Year-End Merit Increase, Option Pool & Bonus Survey. In case you missed it, you can view the recording below along with some of the key takeaways. Key findings from the webinar included: Want more compensation data? The Thelander 2022 Year-End Merit Increase, Option Pool & Bonus Survey is open on the Thelander Survey Tool for your participation. It is free to participate and will take you less than 15 minutes to complete your response. All respondents will receive a

Read More »

How do Bonuses Impact Compensation for Senior Associates?

We received a lot of interest in last month’s Thelander Digest where we explored how bonus programs impact the total compensation for Senior Investment Professional. So this month, we’re exploring the same thing for Senior Associates. For these positions, their total cash compensation may be just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? Let’s dive in!  Key TakeawaysAfter analyzing Thelander Investment Firm CVC Compensation data, the data shows: Want

Read More »

How do Bonuses Impact the Total Cash Engineering Roles Receive for Compensation?

We’ve already looked at how receiving a bonus impacts the total cash that one is compensated for C-suite and VPs in administrative and technical roles. This month, we’re taking a look at how this impacts directors and managers in engineering roles. For some engineering professionals, their total cash compensation is just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? Let’s dive in!  For engineering directors at companies that raised less than $50 million in total financing,

Read More »

How do Bonuses Impact Compensation for Senior Investment Professionals?

For some senior investment professionals, their total cash compensation is just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? In this month’s Thelander Digest, we’ll look at what percentages of senior investment professionals received a bonus and the median total cash they received in compensation. Let’s dive in!  Key TakeawaysAfter analyzing our data, we discovered the following: Want more compensation data? The CVC Salary Increase & Bonus

Read More »

How Do Bonuses Impact Compensation for Managing General Partners?

For some managing general partners, their total cash compensation is just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? In this month’s Thelander Digest, we’ll look at what percentages of managing general partners received a bonus and the median total cash they received in compensation. Let’s dive in!  Key TakeawaysAfter analyzing our data, we discovered the following: Want more compensation data? Participate in the Thelander Investment Firm Salary Increase & Bonus Survey

Read More »

Is the Gender Pay Gap in Private Equity Shrinking?

As the leader in private company and investment firm compensation data, J. Thelander Consulting’s data is commonly used by many publications to examine the current landscape of the industry.  Dan Primack from Axios used our data to examine the gender pay gap in private equity. We’ve included the article below. Private equity’s gender pay gap is shrinking, but remains pronounced at the top levels of larger firms, according to J. Thelander Consulting data shared exclusively with Axios. Why it matters: Parity is the goal. And please don’t bother with emails telling me why it shouldn’t be. Private equity’s gender pay gap is shrinking,

Read More »

The Relationship Between Valuations and CEO Compensation may Surprise You

We’re proud that J. Thelander Consulting was recently featured in a Fortune article! Jessica Matthews used our data in The Term Sheet Newsletter to explore how valuations and CEO compensation are related. Read more about their findings using Thelander data below. Valuations may be starting to trend down, but there’s no need for founders to get too worried yet. After all, valuations aren’t everything. Over the last two years, private companies have soared in value, but that didn’t necessarily mean founders were taking home more money. In fact, sometimes they’ve been making less.  Read The Full Article Here Thelander is the only firm

Read More »

Who is Eligible for Incentives Beyond Cash Bonus, which Incentives are Used, and Why CVC Unit Structure Matters?

In August’s Thelander Digest, we give you a sneak peek at our current data from the ongoing Thelander 2022 Investment Firm – CVC Compensation Survey. We explore who is eligible for incentives beyond cash bonus, which incentives are used, and why CVC unit structure matters.  First, let’s look at which positions are eligible for additional incentives. Thelander data indicates: Our data further shows: And finally, our data shows: Do you want to find additional CVC compensation data? You can access this and many other topics for FREE by participating in our CVC Compensation Survey.  Thelander is the only firm that covers the entire private

Read More »

How do Bonuses Impact Compensation for Senior Investment Professionals?

For some senior investment professionals, their total cash compensation is just their base salary, while others also receive a bonus as well. This doesn’t necessarily mean that those with bonuses get paid more. Those without bonuses might have a higher base salary to make up for the difference. So which is it? In this month’s Thelander Digest, we’ll look at what percentages of senior investment professionals received a bonus and the median total cash they received in compensation. Let’s dive in!  Key TakeawaysAfter analyzing our data, we discovered the following: Want more compensation data? The CVC Salary Increase & Bonus

Read More »

Which Firms are Investing in CEOs Who are Women or Under-represented Minorities?

August’s Thelander Digest examines how AUM and type of firm impact the percentage of portfolio companies headed by women and/or under-represented minority CEOs. Let’s dig in by exploring the numbers.  How does compensation tie into this? Thelander is the only firm that covers the entire private capital market from your investment firm to your portfolio companies compensation. Did you enjoy our Thelander Digest, have ideas for future ones, or want to learn more about how J.Thelander Consulting can help you make informed decisions when it comes to hiring, incentivizing, and retaining talent? Email us here or give us a call at 305-793-8605. We love to hear from

Read More »

How is the CVC Hiring and Retention Landscape Changing?

In July’s Thelander Digest, we examine how the CVC hiring and retention landscape is changing. Particularly, we focus on where new CVC hires are coming from and where CVC employees are going when they leave?  First, let’s look at where new hires are coming from.  Thelander data indicates: Now, let’s look at where CVC employees are going when they leave.  Our data shows: Do you want to find additional CVC compensation data? You can access this and many other topics for FREE by participating in our CVC Compensation Survey.  Thelander is the only firm that covers the entire private capital market from your investment firm to

Read More »

Compensation Differences: Venture Capital vs. Private Equity Firms

July’s Thelander Digest examines compensation differences between venture capital firms and private equity firms, particularly for lower-level investment professionals.  Thelander data indicates:  For firms with $500-$999 Million AUM, we find: And lastly, at firms with more than $1 Billion AUM, our data shows: Do you want to find this data on other investment professionals? You can access this and many other topics for FREE by participating in our Investment Firm Compensation Survey.  Thelander is the only firm that covers the entire private capital market from your investment firm to your portfolio companies compensation. Did you enjoy our Thelander Digest, have ideas for future ones,

Read More »

Which Industries are Seeing the Most Mergers and Acquisitions? 

In July’s Thelander Digest, we examine where we’re seeing the most amount of mergers and acquisitions and if industry makes a difference in the likelihood of companies having a carve-out plan in place.  As our data shows in the graph below, there have been more mergers and acquisitions in tech compared to biotech and medical device companies in the last 24 months.  As shown in the charts below, Thelander data further indicates: What is a carve out plan and why are they important? A carve out plan is essentially a bonus given to key employees in the event of a merger or acquisition. The

Read More »

The Structure of the CVC Unit Impacts Compensation

Welcome to the first Thelander Digest, our monthly newsletter where we explore compensation insights for corporate venture capital units. Each month we’ll bring you an exclusive look at the compensation landscape within different areas of private capital markets. First up, how does the structure of the CVC unit impact compensation? The major structural difference between CVC units is whether they are off balance sheet or separate legal entities, or not. The former has a greater degree of independence in relation to the parent company, and this division can also make a difference in the types of incentives they receive and the value of those incentives. Let’s dive in… Thelander data

Read More »

Compensation Changes for Investment Professionals?  

Welcome to the first Thelander Digest, our monthly newsletter where we explore compensation insights for investment firms. Each month we explore investment firm compensation insights across private capital markets. First up: how has compensation changed year over year for investment professionals? Thelander data indicates: Do you want to find this data on other investment professionals? You can access this and many other topics for FREE by participating in our Investment Firm Compensation Survey.  Thelander is the only firm that covers the entire private capital market from your investment firm to your portfolio companies compensation. Did you enjoy our Thelander Digest, have ideas for

Read More »

CEO Compensation at Private Companies: What the Data Shows

Welcome to the first Thelander Digest, our monthly newsletter where we explore helpful compensation insights for private companies. Each month we’ll bring you an exclusive look at different areas within the compensation landscape. First up, CEO Compensation. At J. Thelander Consulting, we’ve been collecting CEO compensation data directly from private companies for nearly 30 years. Here’s what the data shows. CEO Compensation at Private Companies: Experience Matters In summary: That’s a 16–19% premium for a CEO who has done it before. Experience brings pattern recognition boards are willing to pay for — how to structure a fundraise, when to scale, how to manage through

Read More »