Our inaugural 2025 Credit Compensation Report distils fresh, UK-specific pay data and hiring trends across private credit - built from 175+ conversations with investors and active hiring teams.
If you’re building a team or considering your next move, you don’t need noise - you need insights. This report gives you straight answers on base, bonus, total comp and carry by level and fund size, plus the context behind the numbers: consolidation, retention incentives, in-house workout hiring, and how higher rates are shaping deal teams.
Clear UK benchmarks for Analysts, Associates, VPs/ADs and Directors - base, bonus and total comp - split by small, mid-sized and large platforms.
Carry vs. cash: where carry shows up, where it doesn’t, and how LP LTIPs compare to GP structures.
Hiring momentum: in-house restructuring/workout capability is moving from “nice to have” to essential.
Market backdrop: consolidation, retention bonuses post-acquisition, and compensation levels that have largely held steady over the past 12 months.
Methodology you can trust: conversations held between Sept 2024 and June 2025; London-centric figures with guidance on continental adjustments.
Large LPs (e.g., GIC/CPP/OTPP) are benchmarked alongside large funds. Key difference: LTIPs in place of carry, realised annually and taxed as income.
