Private capital professionals see stable pay, no cuts in 2026, report says

Around one in three expect an increase of 10% to 20%.

Hong Kong private markets professionals expect no cuts to their base compensation over the next 18 months, whilst 40% of respondents anticipate no change, according to a Heidrick & Struggles report.

The survey found that 28% expect an increase of less than 10%, whilst the remaining 33% foresee a 10% to 20% rise.

Most respondents also expect market opportunities to improve, with 5% seeing conditions as “much better,” 55% as “somewhat better,” 30% as unchanged, 10% as “somewhat worse,” and 2% as “much worse.”

Senior roles continue to command significant pay, with managing partners reporting an average total cash of $7.0m (US$891,000), and long-term incentives ranging from $34.8m (US$4.45m) for current fund carry to $42.9m (US$5.49m) across all funds.

Partners and managing directors earn $5.2m (US$671,000) in total cash, with carry up to $23.5m (US$3m), whilst principals report $3.5m (US$442,000) in total cash and carry up to $9.2m (US$1.17m).

Hong Kong is one of the largest respondent locations in the survey, representing 24% of participants, tied with Singapore, and remains a key hub for Asia-Pacific private capital alongside Singapore and Australia.

(US$1 = HK$7.82)