Which asset class is experiencing the biggest salaries?



A salary guide has uncovered the Australian fund management industry’s highest-paying asset class for 2025.
Recruitment agency Robert Walters’ Salary Guide 2025 examined the salary ranges for funds management professionals, with NSW having the most complete and extensive data.
Within the state, professionals working in private equity reported the highest annual salary as managing directors earn $450,000–$500,000 and above.
Investment directors in private equity are earning $350,000–$450,000, while associate directors are seeing a salary of $220,000–$330,000.
Private equity (NSW)
Source: Robert Walters
In contrast, portfolio managers working in public markets are earning $300,000–$450,000, according to Robert Walters. This is followed by assistant portfolio managers with a salary range of $220,000–$280,000 and investment analysts at $155,000–$220,000.
Public markets (NSW)
Source: Robert Walters
Within the private credit space, origination directors are earning $250,000–$350,000 in NSW and portfolio managers earning $180,000–$250,000.
Private credit (NSW)
Source: Robert Walters
Money Management previously explored the culture clash experienced by staff when transitioning from public and private markets.
With many alternative asset classes in their infancy compared to equities and bonds, it can be difficult to recruit sufficiently experienced talents. In areas such as private credit, hires are more likely to come from investment banks than from other rival managers.
“Private credit is flying, we are seeing lots of demand to hire in that area,” said Mischa Bennett, managing director at Capital Executive Search. “But it’s not as easy to hire in those areas as not many people have that debt experience. We usually end up finding people from an investment bank.”
Within the distribution side of funds management in NSW, heads of distribution are enjoying salaries of $320,000–$400,000.
Senior business development managers (BDMs) with more than a decade of experience are earning $220,000–$300,000, and BDMs with five to 10 years of experience are earning $190,000–$220,000.
Fund managers, particularly at alternative and private markets firms, have previously discussed how they are relying on their BDMs to help them break into the financial adviser and retail markets.
Funds management distribution (NSW)
Source: Robert Walters
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