This is how much VCs are paid

Venture capital is known for being an opaque industry, so it’s no surprise most of us have no idea what the average VC earns in a year.

I got a closer look at the survey results of J. Thelander Consulting‘s annual venture firm compensation survey and, unsurprisingly, VCs make a lot of money.

Just how much? Well, of the 204 VCs surveyed (172 male and 32 female), the average general partner expects to make roughly $634,000 this year, including a bonus for 2017 performance.

The averages varied a bit depending on the size of the firm. VCs at firms with less than $250 million assets under management (AUM), for example, earn less than their counterparts at larger firms.

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GPs, who sit at the top of the ranks at VC firms, have the largest compensation packages. Their yearly bonuses are, on average, larger than an associate’s, or entry-level investor’s, average base pay.

The survey didn’t parse out data from firms with billions AUM, aka the Sequoias, NEAs or Kleiner Perkins of the world. Those folks, if the above is any indicator, earn more.

Take note: This is all in addition to a VC’s carried interest, or percentage of a fund’s profits paid to firms’ partners.