The Lucrative World of Secondaries in Private Equity
If you grew up dreaming of a career in private equity, chances are that working in secondaries wasn’t on your radar. However, recent data from recruitment consultancy Jensen Partners suggests that professionals in the secondaries market are raking in substantial rewards. In fact, the average secondaries professional earned a whopping $793k in combined salary and bonus in 2025, slightly edging out their counterparts in alternative asset management.
Interestingly, pay scales were more favorable for lower-ranking positions. For instance, Secondaries VPs took home a median compensation of $510k in 2025, surpassing VPs in private credit and alternative asset management in general. However, as professionals climbed the ranks, the disparity in compensation became more apparent. Secondaries department heads, on average, earned $1.08m in 2025, falling slightly behind partners in alternative asset management.
Carried Interest and Market Trends
Despite the variance in base compensation, secondaries professionals seemed to fare better in terms of carried interest. In 2025, these professionals received an average of $875k in carried interest, outperforming their peers in private credit. The robust performance of the secondaries market in 2025, which reached $224bn and marked a 41% increase from the previous year, has fueled this demand for talented professionals.
In light of these developments, major players in the industry are making strategic hires to capitalize on the market’s growth. For instance, JPMorgan recently appointed Will Boyle as the global head of secondary advisory, signaling the bank’s commitment to expanding its presence in this lucrative sector. Boutique bank Evercore has also made significant moves, with its 150-person team generating substantial advisory revenue and receiving generous compensation.
Future Outlook and Bonuses
With the secondaries market showing no signs of slowing down, experts predict that bonuses for secondaries professionals could increase by 5 to 10% by the end of the year. Johnson Associates, a leading compensation consultancy, highlighted this upward trend in bonuses, reflecting the industry’s robust performance and high demand for specialized talent.
For professionals looking to capitalize on the booming secondaries market, now is an opportune time to explore career opportunities in this dynamic sector. As the industry continues to evolve and expand, there is no shortage of lucrative prospects for those with the right expertise and skills.
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