Private Credit Paychecks Jump as Asset-Based Lending Expands

Compensation packages in structured finance and private credit are surging as competition for people heats up in New York and London.

Average pay increases for external moves picked up to 21% in 2024, according to data compiled by credit industry recruitment firm RCQ Associates. Employees who stayed in their roles saw overall compensation rise 16% in the US, reflecting improved bonuses.

“This sector, and in particular asset-backed finance, has the fastest growing compensation levels within credit,” Edward James, the firm’s founding director, told Bloomberg.

The highest levels of competition were for the Vice President level, according to a RCQ ...