Bonus Structures: VC Holds Steady While PE Drifts Toward Discretion

What’s driving VC and PE bonus structures in 2026? New data from the Thelander x PitchBook Investment Firm Compensation Survey shows that bonus structures across VC and PE firms remain tilted toward discretionary pay — but the similarity ends there.  The Wall Street Journal reported this morning that Wall Street’s 2025 bonuses reflect a “gangbusters” year – […]

VC Associate Compensation by Region: Why AUM Matters More Than Geography

VC associate compensation by region varies widely across the U.S., but the biggest driver of total cash might not be what you’d expect. While associates in Tier 1 regions do earn more, the most significant step-up in total cash occurs once firms cross the $1 billion AUM threshold. Using the interactive compensation maps from the […]

Carry Dollars at Work: What Every VC Needs to Know

What are carry dollars at work? Thelander data shows how carry dollars at work — the potential dollar value of carried interest at a 2x gross multiple — has shifted across firm sizes and levels since 2023.

Carried Interest Vesting: How VC and PE Firms Are Moving in Opposite Directions

Carried interest vesting is diverging — and the gap between VC and PE is widening. Using carried interest data from the Thelander platform, we’re seeing a clear split in how both VC and PE firms are structuring vesting times. At Venture Capital firms, vesting is getting longer. At Private Equity firms, vesting is getting shorter. […]

Equity Refresh Grants: When and How Often to Refresh Options

Equity is one of the most powerful compensation levers available to privately held companies AKA startups. We get asked weekly: How do equity refreshes work? In this week’s PC data drop, we’re breaking down what equity refresh grants are, when companies actually use them, and how to make them sustainable and strategic. All data is […]

How Managing General Partner Compensation Changes as AUM Grows at VC Firms

You’re a Managing General Partner of a venture firm and your AUM grows from $50 – $99 million to $1 – $1.9 billion…How do you expect the mix of cash and carry to change? The Thelander Comp Planning tool has the answer. Using real-time data from the Thelander platform: Thousands of firms rely on the Thelander […]