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Private Equity

Nordic private capital compensation trends: 2017

8/31/2017 Martin F. Holm, Tom Thackeray, Surbhi Jain and Larry Oberfeld
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For its inaugural report in the Nordic region, Heidrick & Struggles invited investment professionals working at private capital firms in Denmark, Finland, Norway, and Sweden to participate in an online compensation survey conducted in December 2016. This report highlights the responses about salaries, bonuses, and carried interest plans from more than 100 private capital professionals.

Notable highlights of the report include:

  • Across the Nordic region, compensation for private capital professionals remained stable in 2016. More than two-thirds of survey participants stated that there was no change to their base salary in 2016, and 62% disclosed that there was no change to their bonus over the same period.
  • Cash compensation for all Nordic-based private capital professionals has steadily risen over the past three years as a result of favorable market conditions. On a percentage basis, associates benefitted the most with a 16.06% compound annual growth rate (CAGR) for total cash compensation from 2014 to 2016, significantly outperforming other professional levels.
  • Cash compensation for Nordic-based private capital professionals is expected to grow as investors remain optimistic and fund managers with strong track records continue to successfully raise capital. 

To read the full report, flip through the interactive version above or click the download button for the PDF.

About the authors

Surbhi Jain ( is a research analyst in Heidrick & Struggles’ Gurgaon office.

Martin Holm ( is a principal in the Copenhagen office and a member of the Healthcare & Life Sciences, Industrial, and Private Equity practices.

Larry Oberfeld ( is an associate in the New York office and a member of the Private Equity Practice.

Tom Thackeray ( is a principal in the London office and a member of the Private Equity Practice. 

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Martin F. Holm Partner +45 33 377600
Tom Thackeray Partner +44 20 70754000