EUROPEAN EXECUTIVE

SALARY SURVEY 2022

A study into executive remuneration
in high-growth businesses
WELCOME

We’ve recently seen extreme volatility in growth markets and the associated
impact on executive remuneration has been significant. Erevena have
produced this up-to-date guide to shed some light on Executive and VP/
Director level remuneration trends in the UK and Europe, and help CEOs,
hiring managers and investment funds navigate this rapidly changin landscape.

Thank you to everyone who took the time to fill in the survey and share their
data, we hope that you find the resulting report useful in guiding your hiring
decisions. Also, a big thank you to all the funds involved who shared the survey
with their portfolios and who continue to trust Erevena to hire their executive
teams.

Some words of caution, these findings are from a relatively limited data
set, and whilst backed up by our experience, they should only be used as a
guideline. We are currently seeing salaries in excess of these figures across
all functions. These figures give an indication of relative packages but should
be treated as trailing averages as respondents who haven’t moved jobs or
received pay rises in the last 12 months may not have benefited from the
recent volatility.

We’d be delighted to discuss any of the findings in this report with you further,
please contact me directly.

Dan Hyde
CEO, Erevena
daniel.hyde@erevena.com

2 European Executive Salary Survey 2022

UNDERSTANDING INDEX
THE METHODOLOGY

We surveyed our network in the UK and Europe

between July and August 2022, receiving 1700
11 13
responses from 24 countries which were CEOs General
supplemented with our internally held data to Management
produce this guide. Responses came from
privately-held companies, investor-backed
companies and a wide range of Public 17 21
companies from FTSE 100 to FTSE Small Cap. Sales/Revenue Marketing

 Responses were analysed by function,

company ownership, Annual Recurring
Revenue (ARR) and gender
25 29
Finance Product
We have reported on C-suite Executives
and VP & Directors (which includes Heads
of/Global Heads of who report direct to the 33 37
CEO or other C-Suite) Technology People

 All data shown is the average value

Data relates only to individuals who are team

41 45
leaders; no individual contributors were Operations About
Erevena
included

Early stage venture refers to Seed, Series A

and Series B and late stage refers to Series
C onwards

 All data points are from the UK and Europe

All figures are in £s apart from ARR which

is in $s
AVG SALARY ALL ROLES BY STAGE C-SUITE Graph Key
Base OTE

CEO GENERAL MANAGEMENT

Private Private

£192,999 £253,050 £139,187 £216,730

VC-Backed VC-Backed

£172,869 £220,122 £135,501 £170,580

PE-Backed PE-Backed

£304,461 £545,460 £251,170 £414,315

Public Public

£505,284 £1,113,438 £281,303 £451,828

MARKETING FINANCE
Private Private

£172,420 £226,406 £214,150 £326,522

VC-Backed VC-Backed

£179,344 £222,756 £187,076 £224,745

PE-Backed PE-Backed

£172,727 £218,036 £193,861 £280,699

Public Public

£223,222 £341,682 £458,327

TECHNOLOGY PEOPLE/HR
Private Private

£192,503 £262,102 £159,761 £209,964

VC-Backed VC-Backed

£183,212 £226,861 £156,837 £188,529

4 European Executive Salary Survey 2022

PE-Backed PE-Backed

£199,173 £276,310 £166,197 £219,325

Public Public

£245,077 £349,553 £229,971 £323,559

T SALES/REVENUE
Private

£175,189 £390,674
VC-Backed

£174,090 £374,393
PE-Backed

£212,930 £395,640
Public

8 £288,979 £582,461

PRODUCT
Private

£159,013 £203,940
VC-Backed

£180,114 £207,841
PE-Backed

£197,332 £263,503
Public

£1,006,453 £168,801 £227,730 *limited data received

OPERATIONS
Private

£196,387 £302,686
VC-Backed

£160,264 £196,797
PE-Backed

£189,773 £261,875
Public

£252,912 £377,017
AVG SALARY ALL ROLES BY STAGE VP/DIRECTOR Graph Key
Base OTE

GENERAL MANAGEMENT SALES/REVENUE

Private Private

£178,760 £248,974 £175,339 £337,849

VC-Backed VC-Backed

£167,056 £235,080 £156,540 £349,520

PE-Backed PE-Backed

£205,629 £285,614 £156,902 £336,588

Public Public

£209,933 £372,833 £195,513 £383,686

FINANCE PRODUCT
Private Private

£129,365 £152,309 £180,103 £236,935

VC-Backed VC-Backed

£153,158 £171,462 £150,276 £177,165

PE-Backed PE-Backed
*no data received

£147,643 £173,696
Public Public

£170,201 £242,442 £174,265 £235,187

PEOPLE/HR OPERATIONS
Private Private

£109,371 £133,762 £160,888 £194,784

VC-Backed VC-Backed

£115,944 £130,827 £150,789 £205,284

6 European Executive Salary Survey 2022

PE-Backed PE-Backed

£139,667 £162,877 £152,708 £227,096

Public Public

£120,271 £145,251 £188,107 £243,213

MARKETING
Private

£141,317 £163,482
VC-Backed

£142,978 £171,949
PE-Backed

£146,430 £191,531
Public

£170,314 £270,279

TECHNOLOGY
Private

£164,856 £230,498
VC-Backed

£129,785 £156,613
PE-Backed

£144,289 £181,965
Public

£188,371 £247,413
AVG BASE SALARY BY COMPANY OWNERSHIP
1 UK

Private

£188,237
Early Stage Venture

£158,842
Late Stage Venture

£195,177
Buyout/Majority PE Ownership

£204,793
Public

£273,666

3 SPAIN 4 FRANCE

Private Private

£141,198 £131,581
Early Stage Venture Early Stage Venture

£175,170 £117,794
Late Stage Venture Late Stage Venture

£154,448 £143,421
Buyout/Majority PE Ownership Buyout/Majority PE Ownership
8 European Executive Salary Survey 2022

£217,420 £140,897
Public Public

£168,389 £179,946
 2 NORDICS & BALTICS

Private

£139,574
Early Stage Venture

£115,858
Late Stage Venture

£170,076
Buyout/Majority PE Ownership

£133,959
Public

£166,148

5 GERMANY 6 REST OF EUROPE

Private Private

£155,185 £170,081
Early Stage Venture Early Stage Venture

£124,112 £131,200
Late Stage Venture Late Stage Venture

£156,123 £173,191
Buyout/Majority PE Ownership Buyout/Majority PE Ownership

£153,497 £174,447
Public Public

£193,980 £175,519
CEOs

Graph Key
Salary Bonus

Private

SALARY & BONUS £192,999 £60,051

BY OWNERSHIP
Early Stage Venture

£150,999 £34,467
Late Stage Venture

£245,964 £86,309
Buyout/Majority PE Ownership

£304,461 £240,999
Public

£505,284 £608,154

0 – 10M

SALARY & BONUS £149,582 £43,609

BY ARR
10M – 50M

£240,486 £108,319
50M – 100M

£236,765 £57,828
100M – 500M

£381,040 £361,166
10 European Executive Salary Survey 2022

500M+

£555,822 £666,382
PERCENTAGE
GRANTED EQUITY
86% Yes
14% No

RANGE OF
EQUITY GRANTED
Founding CEOs Non-Founding CEOs
16.5% – 38.75% 2.5% – 7.0%

Founder

SALARY £151,574 £19,853

FOUNDER VS
NON-FOUNDER Non-Founder

£294,726 £238,020

Female

SALARY BY £257,685 £206,066

GENDER
Male

£267,464 £194,493
GENERAL MANAGEMENT C-SUITE

Salary Bonus

Private

SALARY & BONUS £139,187 £77,542

BY OWNERSHIP
Early Stage Venture
*no data received

Late Stage Venture

£190,227 £156,572
Buyout/Majority PE Ownership

£251,170 £163,145
Public

£281,303 £170,525

0 – 10M

SALARY & BONUS £97,500 £43,750

BY ARR
10M – 50M

£211,498 £143,480
50M – 100M

£237,910 £138,577
100M – 500M

£217,207 £129,096
12 European Executive Salary Survey 2022

500M+

£307,944 £211,531
PERCENTAGE
GRANTED EQUITY
94% Yes
6% No

RANGE OF
EQUITY GRANTED
2.00% – 4.30%

Female

SALARY BY £247,830 £126,666

GENDER
Male

£202,771 £134,829
GENERAL MANAGEMENT VP/DIRECTOR

Salary Bonus

Private

SALARY & BONUS £178,760 £70,214

BY OWNERSHIP
Early Stage Venture

£127,230 £66,707
Late Stage Venture

£173,655 £64,164
Buyout/Majority PE Ownership

£205,629 £79,985
Public

£209,933 £162,900

0 – 10M

SALARY & BONUS £141,390 £34,108

BY ARR
10M – 50M

£142,825 £51,683
50M – 100M

£169,780 £62,768
100M – 500M

£203,243 £89,404
14 European Executive Salary Survey 2022

500M+

£211,346 £159,640
PERCENTAGE
GRANTED EQUITY
82% Yes
18% No

RANGE OF
EQUITY GRANTED
0.22% – 2.13%

Female

SALARY BY £172,524 £63,318

GENDER
Male

£185,993 £108,658
SALES/REVENUE C-SUITE

Graph Key
Salary Bonus Commission

Private

SALARY, BONUS £175,189 £126,653 £88,832

& COMMISSION
BY OWNERSHIP Early Stage Venture

£166,305 £95,680 £100,025

Late Stage Venture

£194,018 £85,447 £115,558

Buyout/Majority PE Ownership

£212,930 £128,822 £53,888

Public

£288,979 £243,382 £50,100

0 – 10M

SALARY, BONUS £159,079 £84,012 £72,632

& COMMISSION
BY ARR 10M – 50M

£180,038 £110,268 £90,560

50M – 100M

£256,126 £179,676 £133,333

100M – 500M

£224,391 £144,705 £115,428

16 European Executive Salary Survey 2022

500M+

£363,750 £410,000
PERCENTAGE
GRANTED EQUITY
91% Yes
9% No

RANGE OF
EQUITY GRANTED
0.85% – 2.00%

Female

SALARY BY £138,496 £56,145 £12,605

GENDER
Male

£195,126 £131,580 £101,168

SALES/REVENUE VP/DIRECTOR

Graph Key
Salary Bonus Commission

Private

SALARY, BONUS £175,339 £76,167 £86,343

& COMMISSION
BY OWNERSHIP Early Stage Venture

£137,325 £63,897 £93,093

Late Stage Venture

£173,424 £90,606 £126,305

Buyout/Majority PE Ownership

£156,902 £76,367 £103,319

Public

£195,513 £88,882 £99,291

0 – 10M

SALARY, BONUS £136,174 £67,031 £86,911

& COMMISSION
BY ARR 10M – 50M

£149,480 £68,032 £95,949

50M – 100M

£164,980 £108,296 £109,297

100M – 500M

£173,732 £93,777 £118,171

18 European Executive Salary Survey 2022

500M+

£204,885 £79,319 £105,238

PERCENTAGE
GRANTED EQUITY
86% Yes
14% No

RANGE OF
EQUITY GRANTED
0.25% – 1.00%

Female

SALARY BY £146,320 £71,308 £71,590

GENDER
Male

£170,307 £81,957 £107,108

MARKETING C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £172,420 £53,986

BY OWNERSHIP
Early Stage Venture

£161,275 £38,453
Late Stage Venture

£190,513 £47,850
Buyout/Majority PE Ownership

£172,727 £45,309
Public

£223,222 £118,460

0 – 10M

SALARY & BONUS £149,996 £21,928

BY ARR
10M – 50M

£174,507 £46,142
50M – 100M

£183,397 £46,571
100M – 500M

£193,034 £77,228
20 European Executive Salary Survey 2022

500M+

£210,102 £89,441
PERCENTAGE
GRANTED EQUITY
84% Yes
16% No

RANGE OF
EQUITY GRANTED
0.85% – 1.38%

Female

SALARY BY £175,079 £59,125

GENDER
Male

£181,195 £50,107
MARKETING VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £141,317 £22,165

BY OWNERSHIP
Early Stage Venture

£143,858 £25,533
Late Stage Venture

£145,982 £29,088
Buyout/Majority PE Ownership

£146,430 £45,101
Public

£170,314 £99,965

0 – 10M

SALARY & BONUS £140,726 £25,675

BY ARR
10M – 50M

£144,241 £26,933
50M – 100M

£126,544 £28,833
100M – 500M

£147,299 £36,153
22 European Executive Salary Survey 2022

500M+

£176,665 £101,264
PERCENTAGE
GRANTED EQUITY
81% Yes
19% No

RANGE OF
EQUITY GRANTED
0.49% – 0.95%

Female

SALARY BY £146,013 £30,071

GENDER
Male

£151,645 £58,179
FINANCE C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £214,150 £112,372

BY OWNERSHIP
Early Stage Venture

£168,535 £40,741
Late Stage Venture

£207,132 £53,940
Buyout/Majority PE Ownership

£193,861 £86,838
Public

£486,092 £586,870

0 – 10M

SALARY & BONUS £148,921 £33,149

BY ARR
10M – 50M

£180,450 £65,033
50M – 100M

£202,096 £68,787
100M – 500M

£258,105. £184,288
24 European Executive Salary Survey 2022

500M+

£476,634 £555,619
PERCENTAGE
GRANTED EQUITY
97% Yes
3% No

RANGE OF
EQUITY GRANTED
0.65% – 1.85%

Female

SALARY BY £248,850 £185,661

GENDER
Male

£262,647 £189,219
FINANCE VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £129,365 £22,944

BY OWNERSHIP
Early Stage Venture

£123,161 £5,306
Late Stage Venture

£140,664 £36,101
Buyout/Majority PE Ownership
*no data received

Public

£170,201 £72,241

0 – 10M

SALARY & BONUS £118,040 £3,979

BY ARR
10M – 50M

£137,021 £36,250
50M – 100M

£126,535 £30,370
100M – 500M

£160,151 £38,000
26 European Executive Salary Survey 2022

500M+

£149,787 £58,086
PERCENTAGE
GRANTED EQUITY
76% Yes
24% No

RANGE OF
EQUITY GRANTED
0.5% – 1%

Female

SALARY BY £135,663 £15,759

GENDER
Male

£134,717 £46,041
PRODUCT C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £159,013 £44,927

BY OWNERSHIP
Early Stage Venture

£172,139 £18,950
Late Stage Venture

£206,046 £53,259
Buyout/Majority PE Ownership

£197,332 £66,171
Public

£168,801 £58,929

0 – 10M

SALARY & BONUS £157,283 £17,663

BY ARR
10M – 50M

£178,325 £40,428
50M – 100M

£190,683 £54,957
100M – 500M

£191,557 £64,807
28 European Executive Salary Survey 2022

500M+

£211,059 £87,009
PERCENTAGE
GRANTED EQUITY
84% Yes
16% No

RANGE OF
EQUITY GRANTED
0.54% – 1.25%

Female

SALARY BY £176,954 £37,801

GENDER
Male

£181,447 £47,268
PRODUCT VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £180,103 £56,832

BY OWNERSHIP
Early Stage Venture

£143,811 £14,563
Late Stage Venture

£158,389 £22,028
Buyout/Majority PE Ownership

£147,643 £26,053
Public

£174,265 £60,922

0 – 10M

SALARY & BONUS £145,739 £11,170

BY ARR
10M – 50M

£141,965 £20,424
50M – 100M

£167,434 £25,487
100M – 500M

£159,701 £36,003
30 European Executive Salary Survey 2022

500M+

£183,504 £63,788
PERCENTAGE
GRANTED EQUITY
82% Yes
18% No

RANGE OF
EQUITY GRANTED
0.5% – 1%

Female

SALARY BY £167,135 £40,298

GENDER
Male

£161,665 £38,369
TECHNOLOGY C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £192,503 £69,599

BY OWNERSHIP
Early Stage Venture

£175,034 £20,660
Late Stage Venture

£194,587 £41,861
Buyout/Majority PE Ownership

£199,173 £77,137
Public

£245,077 £104,476

0 – 10M

SALARY & BONUS £167,370 £27,350

BY ARR
10M – 50M

£185,012 £46,610
50M – 100M

£192,552 £49,441
100M – 500M

£216,350 £91,010
32 European Executive Salary Survey 2022

500M+

£245,813 £98,163
PERCENTAGE
GRANTED EQUITY
83% Yes
17% No

RANGE OF
EQUITY GRANTED
0.5% – 1%

Female

SALARY BY £153,804 £86,000

GENDER
Male

£194,158 £56,464
TECHNOLOGY VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £164,856 £65,642

BY OWNERSHIP
Early Stage Venture

£146,588 £32,456
Late Stage Venture

£151,556 £24,105
Buyout/Majority PE Ownership

£144,289 £37,676
Public

£188,371 £59,042

0 – 10M

SALARY & BONUS £164,772 £27,276

BY ARR
10M – 50M

£142,624 £41,761
50M – 100M

£174,917 £49,724
100M – 500M

£144,900 £46,329
34 European Executive Salary Survey 2022

500M+

£197,291 £61,773
PERCENTAGE
GRANTED EQUITY
81% Yes
19% No

RANGE OF
EQUITY GRANTED
0.3% – 0.73%

Female

SALARY BY £131,138 £19,059

GENDER
Male

£164,172 £47,565
PEOPLE C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £159,761 £50,203

BY OWNERSHIP
Early Stage Venture

£137,336 £10,755
Late Stage Venture

£180,259 £54,992
Buyout/Majority PE Ownership

£166,197 £53,128
Public

£229,971 £93,588

0 – 10M

SALARY & BONUS £142,747 £12,630

BY ARR
10M – 50M

£155,873 £36,605
50M – 100M

£144,169 £58,614
100M – 500M

£223,712 £62,885
36 European Executive Salary Survey 2022

500M+

£230,913 £99,776
PERCENTAGE
GRANTED EQUITY
95% Yes
5% No

RANGE OF
EQUITY GRANTED
0.20% – 0.50%

Female

SALARY BY £164,339 £41,757

GENDER
Male

£178,011 £55,367
PEOPLE VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £109,371 £24,391

BY OWNERSHIP
Early Stage Venture

£95,817 £4,517
Late Stage Venture

£113,987 £18,212
Buyout/Majority PE Ownership

£139,667 £23,210
Public

£120,271 £24,980

0 – 10M

SALARY & BONUS £103,644 £7,083

BY ARR
10M – 50M

£126,253 £9,801
50M – 100M

£123,722 £45,104
100M – 500M

£120,296 £18,185
38 European Executive Salary Survey 2022

500M+

£117,319 £27,062
PERCENTAGE
GRANTED EQUITY
81% Yes
19% No

RANGE OF
EQUITY GRANTED
0.12% – 0.39%

Female

SALARY BY £113,470 £22,395

GENDER
Male

£126,960 £9,451
OPERATIONS C-SUITE

Graph Key
Salary Bonus

Private

SALARY & BONUS £196,387 £106,299

BY OWNERSHIP
Early Stage Venture

£143,429 £32,551
Late Stage Venture

£201,149 £47,681
Buyout/Majority PE Ownership

£189,773 £72,102
Public

£252,912 £124,105

0 – 10M

SALARY & BONUS £135,643 £32,497

BY ARR
10M – 50M

£187,813 £80,629
50M – 100M

£189,776 £62,130
100M – 500M

£246,337 £89,743
40 European Executive Salary Survey 2022

500M+

£315,806 £199,639
PERCENTAGE
GRANTED EQUITY
86% Yes
14% No

RANGE OF
EQUITY GRANTED
1.00% – 2.50%

Female

SALARY BY £162,972 £46,066

GENDER
Male

£182,546 £77,254
OPERATIONS VP/DIRECTOR

Graph Key
Salary Bonus

Private

SALARY & BONUS £160,888 £33,896

BY OWNERSHIP
Early Stage Venture

£142,134 £13,180
Late Stage Venture

£169,273 £94,423
Buyout/Majority PE Ownership

£152,708 £74,388
Public

£188,107 £55,106

0 – 10M

SALARY & BONUS £133,641 £37,333

BY ARR
10M – 50M

£151,147 £32,810
50M – 100M

£181,666 £20,166
100M – 500M

£165,659 £75,880
42 European Executive Salary Survey 2022

500M+

£164,941 £52,495
PERCENTAGE
GRANTED EQUITY
84% Yes
16% No

RANGE OF
EQUITY GRANTED
0.79% – 1.88%

Female

SALARY BY £133,109 £28,402

GENDER
Male

£165,453 £54,018
ABOUT EREVENA

Erevena is a global executive search firm that helps high-growth, innovative

companies identify and recruit Board and C-suite executives and assists them
in building their teams. We work with some of the fastest growing companies
in the world, from early stage through growth and to exit; the VCs and Private
Equity firms that back them; and with publicly-traded companies undergoing
transformation.

We are a team of 100 giving us senior reach across a wide cross-section

of sectors and geographies. With offices in London, Paris, Copenhagen,
Stockholm, New York and San Francisco, we conduct search for businesses all
over the world.

CONTACT

marketing@erevena.com
www.erevena.com

44 European Executive Salary Survey 2022

SUPPORTERS