Venture Capital Salaries in the US 2025

If being a venture capitalist is part of your finance career goals, you may wonder if it pays well. Generally, VC analysts in the US get an average total pay of $117K. Some of the lowest paid analysts get a total salary of $60K while the highest paid ones can get up to $200K.

The huge difference in compensation is a result of many factors like the firm size, experience, location, and fund performance. In this guide, we'll walk you through such factors, explain the VC compensation structure, give the average salaries for the top tier venture capital firms, and compare the pay with other careers. Read on to discover your potential salary as a venture capitalist.

How Is the Salary Structure in Venture Capital?

The compensation package of venture capitalists is typically made up of a base salary, bonus, carry, and other benefits. Here's a breakdown of that VC salary structure:

• Base Salary: This is the fixed amount you can expect to earn, excluding variable earnings like bonuses. It's often expressed as an hourly, monthly, or annual rate.
• Bonus: Venture capitalists often get annual performance bonuses which can vary by year. Bonuses often range from 10% to 50% of the base salary, depending on the role.
• Carried Interest (Carry): This is a percentage of the investment profits that partners receive, usually paid out over a fund's lifecycle (often 7-10 years). Carried interest is a significant portion of compensation for senior-level professionals, but junior-level employees usually receive little or no carry.
• Other Benefits: The pay package for venture capitalists may also include health insurance, retirement plans, and sometimes equity in portfolio companies or the VC firm itself.
   

Which Factors Influence Your Salary in Venture Capital?

Like we mentioned earlier, several factors determine how much you can earn in venture capital. These include VC firm’s size, position or seniority, location, stage focus of the firm, reputation, and carry allocation policies.

Let's have a look at the factors that influence your salary in venture capital:

Firm Size & Fund Size

Venture capitalists get paid out of a fund’s management fees, which are the annual amounts investors or limited partners pay to venture capital firms annually. The fees can vary from 1% to 2.5% of the committed capital.

So, larger, established firms with a strong track record and large assets under management (AUM) like Sequoia and Andreessen Horowitz tend to generate higher management fees. This provides more money to cover salaries and bonuses. Besides, larger funds are more likely to generate massive profits, increasing the potential for lucrative carried interest payouts.

Smaller or boutique firms, especially those in their early stages, usually have small fund sizes which means they collect less management fees. As such, they may struggle to pay competitive salaries until their investments generate returns, which could take years.

Role, Experience, and Seniority

Your role within a venture capital firm — whether you're an analyst, associate, principal, or partner — plays a significant role in determining your salary. Junior-level employees, such as analysts and associates, typically earn lower base salaries, receive smaller bonuses, and have little to no access to carry.

As you progress to senior positions like principal or partner, your compensation increases significantly, with carry becoming a much larger portion of your total earnings. This reflects the greater experience, responsibility, and contribution to the firm’s success associated with these roles. Additionally, even at the junior level, compensation can vary, as a first-year analyst often earns less than a second- or third-year analyst.

Your educational background, previous work experience, and specific skill set also play a part in determining your salary in VC. Individuals with prior experience in investment banking, private equity, consulting, or successful startup ventures often command higher salaries, as they bring valuable deal-making or operational expertise.

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Location

Another major factor that influences VC salary is the geographic location of the firm. Companies in major VC hubs like Silicon Valley, New York, or Boston tend to offer higher compensation compared to those in smaller markets or regions. This is due to the higher cost of living, competition for top talent, and the concentration of larger, more established firms in these regions.

For example, an associate in Silicon Valley may earn 20–30% more than someone in the same role at a firm located in a smaller city. However, while salaries may be lower in less competitive markets, employees in these regions may have access to unique opportunities, such as faster promotions or more carry.

Stage Focus of the Firm

The stage at which a VC firm invests, like seed, early-stage, growth, or late-stage, also impacts salary levels. Late-stage and growth equity firms usually pay higher salaries because they manage larger funds, invest in more established companies, and generate returns more quickly.

Early-stage and seed-focused firms, on the other hand, often have smaller funds and longer investment horizons. This means lower pay, especially at junior levels.

Firm Reputation and Track Record

The reputation and historical performance of the VC firm directly influences compensation. Well-established firms with a strong track record of successful exits, such as IPOs or acquisitions, are more likely to attract larger funds and higher-quality deals, resulting in greater profits and higher salaries.

Employees at such top-tier firms benefit from higher bonuses and carry because these firms consistently generate strong returns. In contrast, newer or less successful firms may struggle to attract capital, and therefore have lower management fees and smaller payouts for their employees.

Firm Structure and Carry Allocation Policies

With VC firms, the career ladder and organization structure isn't as standardized as in investment banking. Some firms operate with a flat structure, where compensation is more evenly distributed, while others are hierarchical, with huge pay gaps between junior and senior staff.

Depending on the firm's structure and policies, they may offer carry only to partners. Another firm may distribute it across all levels, including junior employees.

What Are the Top Paying VC Firms in the US?

The top paying venture capital firms in the United States include Sequoia Capital, NEA, Bessemer Venture Partners, and Andrew Horowitz. Based on the available salary data, Sequoia Capital offers the highest total average compensation among the top-tier VC firms, ranging from $113K to $197K, with a strong balance of base salary ($87K–$149K) and bonus ($26K–$48K).

New Enterprise Associates (NEA) also ranks highly. It offers a total compensation range of $98K–$152K, most of which comes from a high average base salary ($89K–$135K). In comparison, Accel and Index Ventures have lower total compensation ranges, with Accel averaging $70K–$110K and Index Ventures $64K–$91K. Bonuses among these top firms vary, with Sequoia and Andreessen Horowitz offering larger bonuses ($30K at the high end) compared to others like Accel and Index Ventures.

For other well-known firms like Benchmark Capital and Founders Fund, compensation data is not readily available. But they are widely regarded as top-tier firms in the venture capital industry.

What Are Other Reputable VC Firms in the US Paying?

Other top firms that pay well in the United States include IVP, Tiger Global Management, and Battery Ventures.

From the available VC compensation data, IVP (Institutional Venture Partners) offers one of the highest total average compensation packages, ranging from $111K to $172K. Battery Ventures and Tiger Global Management also pay competitively, with total compensation ranges of $90K–$155K and $89K–$167K, respectively.

On the lower end, Khosla Ventures offers a total compensation of $68K–$111K, primarily due to a smaller bonus range ($6K–$11K), while Lightspeed provides slightly higher total compensation, ranging from $78K to $126K.

For firms like GGV Capital and Legend Capital, compensation data is not readily available, but they are considered among the top-tier venture capital firms.

How Do VC Salaries Progress with Experience?

Generally, salaries in venture capital increase with experience and seniority. Analysts are the entry level professionals and they get an average total compensation of $117K. Bonuses are modest at $12K, and carry is minimal at 1.1% or unlikely in some firms.

The next level up the VC career ladder is associates. Moving to this rank increases the average compensation to $160K. Carry increases slightly to 1.2%, but in some firms it's still unlikely.

Rising to the senior associates rank increases the average pay to $199K. Base salaries range from $87K–$230K, and bonuses increase to $33K. Carry allocation rises to 1.3%, and in some firms it's possible for senior associates to receive decent carry.

Principals or Vice Presidents (VP) make a total pay of $252K on average with base salaries ranging from $42K to $500K. Carry increases significantly to 3.8%, as principals or VPs take on leadership roles in deal-making and fund strategy.

At the partner or junior partner level, compensation averages $271K, with base pay rising to as much as $650K and bonuses reaching $50K. Carry jumps to 7.1%, as junior partners are heavily involved in fund management and play a key role in portfolio success.

Then at the highest rank in VC of general partner (GP) or managing director the average pay is $379K and base salaries reach $720K or even $1M. Bonuses average $68K, and carry climbs dramatically, sometimes up to 23.3%. This is because GPs are responsible for fundraising, firm strategy, and overseeing the fund’s success. For senior roles with $0 base salaries, these are often carry-only positions and the amount can be massive.

VC Salaries in Comparison to Other Industries

Venture capital analysts have a unique position when it comes to salaries. Their pay is comparable to careers like investment banking and private equity, with base salaries ranging from $78K to $150K. In comparison, hedge fund analysts tend to earn slightly less, with salaries averaging between $69K and $124K.

If you look at tech, VC analysts match up nicely with software engineers and data scientists, typically pulling in $96K to $146K.

Key Takeaways

• VC analysts in the US earn an average total pay of $117K, with salaries ranging from $60K to $200K.
• VC compensation includes base salary, bonus, carried interest, and additional benefits. Bonuses typically range from 10% to 50% of base salary, with carried interest being significant for senior roles.
• Some of the factors that affect VC salary include firm size, fund size, location, investment stage, firm reputation, and carry allocation policies impact VC compensation.
• Generally, larger, established firms in major tech hubs tend to offer higher salaries.
• Sequoia Capital often offers the highest total compensation, ranging from $113K to $197K. Other top firms include NEA, Bessemer Venture Partners, and Andreessen Horowitz.
• VC salaries increase dramatically with experience, from $117K for analysts to $379K for general partners. Carry allocation grows from 1.1% for analysts to potentially 23.3% for general partners.
• VC analysts' salaries are competitive with investment banking, private equity, and top tech roles. Base salaries typically range from $78K to $158K across finance and tech industries.