MIAMI--(BUSINESS WIRE)--J.Thelander Consulting, the leading source for compensation intelligence for the private capital markets, today released data from the Thelander Platform on the state of women in venture capital, including how their compensation stacks up to their male peers’. Women still make up for just a fraction of all managing general partners at venture firms, and their pay still lags behind their male counterparts. However, there’s hope for greater representation and more equitable pay as women increasingly occupy entry-level investing positions at venture firms and begin to out-earn their male peers.
The median total cash compensation for senior associates is $205,157 for women and $188,750 for men. This marks the fourth consecutive year that female senior associates have out-earned their male counterparts in terms of total cash. Thelander defines total cash as a combination of base pay plus salary, or just base salary, depending on the firm’s compensation structure. When looking at carried interest, men and women are almost at parity, earning roughly 1% of carried interest at the median. What’s more, women are increasingly entering the field. In 2024, women make up 44% of senior associates at venture firms, representing a 12% increase from 2020.
As women move up in the ranks at VC firms, the gap widens. Women make up for just 15% of managing general partners in venture, which has stayed consistent for the last three years, and they’re earning less than their male peers. Median total cash for top investors is $447,500 for women and $500,000 for men, a pay gap of 11%. Male senior managing directors also earn a higher percentage of carried interest than women in the same role. At the median, female senior managing directors earn 12% in carried interest compared to 15% earned by their male peers. For women, this represents a two-year decline in the percentage of carried interest allocated to them.
“We’re seeing positive traction as more women make careers in venture,” said Jody Thelander, founder and CEO of J.Thelander Consulting. “We’re seeing the gender pay gap narrow among more junior roles, which should continue as they progress into more senior positions. While it may not help the women who blazed the trail, J.Thelander has partnered with firms to formalize compensation at all levels, helping close the gender pay gap. We wouldn’t be able to do this without the trust of our partners who provide accurate information about the compensation within their firms. We’re honored to be the only namesake firm to provide data, insights and analysis to assist firms with making educated decisions about their compensation strategy.”
The Thelander Investment Firm Compensation Survey is open year-round on the Thelander Survey Tool and is completed by over 500 global venture capital firms and more than 1,500 investment firms. Upon completion of the survey, compensation data is instantly vetted and aggregated, resulting in real-time daily updates on the platform.
About J.Thelander Consulting
J.Thelander Consulting is the premier compensation data and consulting firm for privately held tech and life science companies as well as venture capital, private equity and corporate venture firms. With nearly three decades of experience, J.Thelander is the only firm that covers the entire private capital market with real-time compensation data, insights and analysis. The data is available by subscription to the Thelander online platform, either through survey participation or paid access. The consulting business is led by Jody Thelander who offers tailored services to help firms design and implement compensation infrastructure early on and continue to make adjustments as they grow and scale. J.Thelander Consulting was founded in 1997 and is based in Miami, Florida. Visit www.jthelander.com to learn more.
