Indicative compensation ranges, sector by sector, to position a leadership mandate in the market — from finance leadership to private equity, via private banking, asset management and family offices.
The figures below are expressed as gross annual compensation, excluding benefits in kind, based on the Paris market unless otherwise stated. The upper bounds correspond to large-scale structures — assets under management, balance sheet size, revenue growth — and the lower bounds to mid-sized structures. They are not a contractual scale, but a synthesis of 2026 public data and direct market observation by our consultants. For a specific mandate, we build a bespoke compensation benchmark, incorporating the real practices of your sector and your direct competitors — speak with a consultant →
The French financial sector is undergoing a profound reshaping: increased regulatory pressure (DORA, Basel IV, the European pay transparency directive), banking consolidation and the rise of fintech players. These dynamics create asymmetric salary tensions — some functions are appreciating strongly while others are plateauing.
M&A front offices remain the absolute compensation benchmark, with packages that can exceed €500,000 at Managing Director level. But the real 2026 tension is in risk and compliance functions: under regulatory pressure, CROs and CCOs have seen their base salary increase by 15–20% over two years, partially catching up with front offices that were long better compensated.
In fintech, packages systematically include equity and LTIs from the very first leadership mandate — making any comparison based on base salary alone misleading.
A pivotal profile bridging deal execution and team management. The upper bound applies to boutiques and US banks operating in Paris, where the compensation scale is aligned with London standards.
✦ The lower bound applies to French retail banks; independent boutiques are typically at the top of the range.
A revenue-generating role — variable compensation is directly tied to deal volume closed. An MD who closes 3–4 significant mandates per year can exceed €1M in total package.
✦ Published market data systematically underestimates these packages: the variable component is rarely disclosed.
A polymorphic role: depending on the institution, this position oversees operations, institutional client relationships or growth initiatives. The salary range reflects this diversity of scope.
A profile under strong tension since DORA and Basel IV came into force. Institutions that have faced regulatory sanctions pay up to 30% above market to attract a CRO credible with supervisors.
✦ ~20% increase since 2023 — the CRO has become a regulatory communication asset as much as an operational role.
The EU pay transparency directive (2026) has created a windfall: CCOs who master AML/CFT, DORA and ESG reporting obligations simultaneously are rare and highly sought after.
IFRS 17 requirements (insurance) and tightening bank stress tests have increased the premium for profiles mastering both accounting standards and the regulator relationship.
A profile almost impossible to find on the open market — the vast majority of senior actuaries have been in the same group for over 10 years. Recruitment requires a very targeted direct approach.
Variable is strongly linked to collection and retention targets. In mutual insurance companies, the scale is structurally lower than at shareholder-owned insurers.
The fintech CFO post Series A cumulates CFO, company secretary and lead investor interface responsibilities. Equity can represent the bulk of package value over a 3–5 year horizon.
Base salary is often deliberately modest to maximise equity allocation. The upper bound corresponds to fintechs having raised more than €50M with an institutional board.
✦ Turgot Executive Search estimate — equity packages are structurally opaque and not covered by standard studies.
Market insight 2026
The risk and compliance function is structurally catching up with front offices. Under the combined pressure of DORA, Basel IV and the pay transparency directive, CROs and CCOs have progressed 15–20% in two years. This rebalancing is durable: regulatory sophistication will not ease. For your banking clients, this is the decisive argument to unlock a recruitment budget for these functions.
Data from market observation and mandates conducted by Turgot Executive Search (Paris, 2024–2026). Upper bounds correspond to international-scale structures and Anglo-Saxon boutiques operating in Paris. Annual gross figures, Paris market, excluding benefits in kind.
French wealth management is a market built on discretion: few published mandates, rare mobility, and packages that are rarely documented. Most standard compensation studies ignore single-family offices and systematically underestimate UHNW private banker packages.
Two structural tensions characterise 2026: first, a shortage of international wealth planning profiles — natural bridge between UHNW francophone clients and offshore structures (Luxembourg, Geneva, Dubai). Second, the professionalisation of family offices, now recruiting profiles equivalent to private bank directors but with more discretionary packages.
The table below covers onshore compensation (Paris). For offshore mandates (Luxembourg, Geneva, Dubai), Turgot Executive Search conducts location-specific benchmarks.
A commercial management role: supervising a team of private bankers, developing new client relationships and managing collection targets. The lower bound applies to mutual banking networks.
The Head of Private Banking oversees an entire business line or region. In Anglo-Saxon institutions operating in Paris, variable can exceed base salary.
Compensation is directly correlated to AUM volume and net inflows. A banker managing €500M+ in UHNW AUM can exceed €200,000 in total package.
✦ UHNW bankers are rarely actively seeking — recruitment requires a strictly confidential direct approach.
A hybrid profile: expertise in succession law, international taxation and asset structuring. Demand has grown sharply since the reform of non-resident taxation.
The development of discretionary advisory (discretionary mandates) has been the main strategic axis of private banks since 2023. Directors capable of steering this shift are highly sought after.
Single-family offices practice highly discretionary compensation, sometimes supplemented by significant benefits in kind (housing, car, travel). The published range here frequently underestimates reality.
The Family Office Director oversees all family assets (financial, real estate, participations) and coordinates external advisors. This is a relationship of total trust — recruitment takes on average 8 to 12 months.
✦ Turgot Executive Search estimate — data not published in standard studies. Range built from our own 2023–2026 mandates.
Independent multi-family offices are growing rapidly in France. Their CEO combines commercial responsibilities (client development) and operational ones (managing engineering teams).
The independent financial advisor (IFA) market is undergoing rapid consolidation. Development directors capable of animating an IFA network and managing collection are highly sought after.
The most sought-after profile in the sector in 2026: mastering both international taxation, holding structures (trusts, foundations, holding companies) and the regulations of major financial centres.
✦ Turgot Executive Search estimate — data from our 2023–2026 wealth management mandates, not published in standard studies.
Market insight 2026
International wealth planning is the most under-resourced profile in the sector. Institutions that have developed an international client base struggle to find profiles capable of navigating French, Luxembourg and Swiss regulations. This profile has become strategic as reporting obligations on cross-border assets have expanded.
Data from mandates conducted by Turgot Executive Search (Paris, 2023–2026). Single-family office compensation figures are estimates built from our own mandates — they do not appear in any public study. Annual gross figures, excluding benefits in kind.
The French real estate market is undergoing a major reshaping: after the 2022–2023 rate shock, transaction volumes rebounded in 2025, driving renewed demand for investment and asset management profiles. But two new dynamics are redrawing compensation scales.
First dynamic: the ESG premium. The French tertiary decree mandates a decarbonisation trajectory for assets. Technical and ESG directors capable of leading this transformation — HQE, BREEAM certification, SFDR reporting — command 15–20% above the 2022 scale. This gap has widened over two years and is documented nowhere.
Second dynamic: SCPI/OPCI management company consolidation. Mergers have created expanded leadership positions (CEOs of companies managing €5–10Bn in AUM) with unprecedented packages in this sector.
Manages a diversified portfolio in offices, retail or residential. The upper bound corresponds to structures that have integrated advanced ESG reporting (SFDR Article 9) into the role scope.
At this AUM level, the director manages several asset managers and interfaces directly with the supervisory board. The upper bound is reached in pan-European structures operating from Paris.
Responsible for acquisition and disposal policy. Variable is strongly tied to SCPI collection performance and realised IRRs. In value-add funds, variable can exceed 50% of base.
Leading management companies now manage €5–15Bn in AUM. The CEO oversees investment, property management, compliance and distribution — a scope comparable to a regional bank CEO.
✦ Turgot Executive Search estimate — very restricted market (fewer than 30 positions in France), data not published.
Interface between operational asset management teams and investors (LPs, SCPI unitholders). INREV reporting and AIFMD requirements must be mastered.
Margin compression in residential development has increased the premium for profiles capable of managing mixed-use operations and navigating the regulatory complexity of large urban projects.
A key profile in an increasingly competitive land market. The upper bound is reached in national developers who have structured dedicated land sourcing teams for major metropolitan areas.
Manages tenant relationships, maintenance works and day-to-day occupancy performance of the portfolio. In large listed real estate companies, this role may supervise a team of 20–50 people.
Mastery of IFRS 16 (lease contracts) and complex mortgage debt (CMBS, club deals) distinguishes real estate CFOs from generalist finance directors. This skill premium is reflected in the scale.
A profile under strong tension since the tertiary decree and SFDR obligations. Technical directors capable of driving energy renovation of a portfolio (certification, reporting, works oversight) command a documented market premium.
✦ Tertiary decree premium: +15 to 20% vs 2022 scale — differential not yet published in standard compensation studies.
Market insight 2026
The ESG/tertiary decree premium is now documented and durable. It stems from a simple reality: technical directors capable of simultaneously managing portfolio decarbonisation, SFDR reporting and relationships with ESG auditors represent fewer than 200 qualified profiles in France. This scarcity structures the market for the next five years.
Data from market observation and mandates conducted by Turgot Executive Search (2023–2026). CEO of SCPI/OPCI figures are Turgot Executive Search estimates, built from our mandates — they do not appear in any public study. Annual gross figures, Paris market, excluding benefits in kind.
Energy and infrastructure is the sector where the compensation gap between funds and corporates is the most documentable — and the most underestimated by companies losing their talent. At equal seniority, an Infrastructure Fund Investment Director earns 40–60% more than their counterpart at a major energy company.
This gap is structural: it reflects the scarcity of profiles capable of combining project financial modelling (project finance), understanding of technical risks (generation, grid, storage) and mastery of sectoral regulatory frameworks. These competencies take 8–12 years to build — the talent pool is short.
New energies (hydrogen, biogas, battery storage) are creating unprecedented leadership positions. Compensation scales are still forming — Turgot Executive Search is one of the few firms to document these figures from real mandates.
Manages a portfolio of assets (transport, energy, telecoms) on behalf of the fund. The upper bound applies to pan-European funds; the lower bound to mid-cap renewable energy funds.
Carry constitutes the bulk of long-term package value. A Partner overseeing a €2Bn fund with a 12% net IRR can receive several million euros over the fund's lifetime.
✦ Published compensation data structurally omits carry value, which often represents 3–5x annual base over a fund's life.
Oversees the operational and financial performance of portfolio assets (power plants, grids, concessions). Requires a dual technical and financial competency that is rarely combined.
Structures non-recourse financing for infrastructure and renewable energy projects: financial modelling, bank negotiation, contract documentation. One of the few roles where mastery of legal English is non-negotiable.
The IPP CEO carries both the development strategy (project pipeline), relationships with financiers, and company valuation ahead of a sale or IPO.
The renewables developer CFO oversees both SPV project accounting, corporate financing and shareholder relations (often infrastructure funds). A rare profile — candidates are actively headhunted.
The upper bound is reached in developers who have structured multi-technology teams (solar + wind + BESS). Variable is most often indexed on MW connected or permits obtained.
Leads acquisitions of project portfolios, equity stakes and joint ventures. In major energy companies, this role is structurally below the packages offered by funds, fuelling talent outflows.
Manages project ownership teams on major concession projects (motorways, airports, water networks). Seniority and the scale of projects managed (>€500M) are the main compensation drivers.
A near-non-existent talent pool in France: most profiles come from research, industrial chemistry or offshore wind. Compensation scales are forming rapidly, with significant volatility tied to fundraising.
✦ Turgot Executive Search estimate — data from 4 mandates conducted in 2024–2026, a rapidly forming sector.
Market insight 2026
The fund vs corporate compensation gap in energy/infrastructure is 40–60% at equal seniority. This is the documented argument that energy major clients refuse to hear — and that their best Investment Directors know by heart. Turgot Executive Search holds detailed benchmarks to support this conversation.
Data from mandates conducted by Turgot Executive Search Energy & Infrastructure (2023–2026). New energy compensation figures are estimates built from our mandates — they do not appear in any public study. Annual gross figures, Paris market, excluding carry and benefits in kind.
French private equity is the sector where compensation scales are the least transparent — and the most stratified. The distinction between current compensation (base + bonus) and deferred compensation (carried interest) makes any summary comparison misleading.
Three markets coexist: large-cap funds (>€1Bn fund size), which align their practices with London and New York standards; mid-cap funds (€100–500M), which represent the bulk of the French market; and small-cap and specialist funds (private debt, turnaround, impact), which apply more heterogeneous scales.
The truly opaque market is that of portfolio company executives — CEOs and CFOs of LBO portfolio companies. These packages systematically include a management package (options or free shares) whose value at exit can represent 3–10 years of base salary. Turgot Executive Search is one of the few firms to document this market.
Operational interface between the fund and portfolio company management teams. Oversees performance monitoring, supports transformations and prepares exits. Variable is highly discretionary across funds.
Leads acquisition mandates end-to-end: sourcing, due diligence, negotiation, documentation. At this level, the profile is assessed on their ability to generate and close deals — not merely analyse them.
Partners are judged on their realisations: net IRR, MOIC, and quality of co-investors brought to the table. Base salary is almost secondary — it is carry from prior funds that determines actual financial comfort.
✦ Partner packages are structurally opaque: carry from previous funds can represent several million euros not reflected in annual scales.
Manages LP relationships (institutional investors, family offices, funds of funds) and coordinates new vehicle fundraises. The upper bound is reached in funds that regularly raise outside their historical LP base.
Private debt (unitranche, senior secured, mezzanine) is the segment that has seen the strongest compensation growth since 2022. The scarcity of profiles combining structured credit, LBO documentation and banking relationships explains these levels.
A profile still being institutionalised in France — already established in Anglo-Saxon funds. The operating partner is a former operational executive who supports portfolio company management teams through their transformation.
✦ Turgot Executive Search estimate — emerging profile in France, fewer than 50 positions identified. Data from our observations.
Supports portfolio companies in their transformation initiatives (digitalisation, bolt-on acquisitions, cost restructuring). Requires operational experience in general management or strategy consulting.
Oversees fund accounting, carried interest calculations, NAVs and the relationship with PE-specialist auditors. A different profile from a corporate CFO — mastery of IPEV and ILPA standards is essential.
The portco CFO is the fund's direct financial interlocutor. They manage the debt (covenant banking), prepare quarterly LP reporting and anticipate the exit (data room). The management package typically represents 1–3% of holdco capital.
✦ Turgot Executive Search estimate — opaque market, no standard study covers management packages. Data from our 2022–2026 mandates.
The portco CEO is the most sought-after profile in French PE — and the least covered by compensation studies. Their package is designed to align interests with the fund over 4–6 years: the management package can be worth €2–5M at exit in a strong scenario.
✦ Turgot Executive Search estimate — opaque market, management packages undocumented. This is at the heart of our PE recruitment expertise.
Market insight 2026
Portfolio company executives (CEO and CFO of LBO portcos) are the hidden market of private equity. No standard compensation study documents their management packages — yet this is where most value creation happens. Turgot Executive Search specialises in this exact segment: funds mandate us to identify executives capable of performing in an LBO context.
Data from mandates conducted by Turgot Executive Search PE & Capital Development (2022–2026). Management package figures are Turgot Executive Search estimates, built from our mandates — they do not appear in any public study. Annual gross figures, excluding carry and benefits in kind.
Corporate finance covers a very wide spectrum — from the CFO of an SME to the Group CFO of a large listed company — with compensation levels that can vary fourfold for similar job titles. The main drivers are company size (revenue, headcount), stock market listing (which imposes increased reporting requirements) and financial complexity (M&A, debt restructuring, international subsidiaries).
Two underlying trends mark 2026: first, the rise of the CFO as strategic co-pilot — finance functions that have integrated data finance tools (Power BI, SAP S/4HANA, AI-driven planning) pay their directors significantly above the standard scale. Second, the growth of interim management, which gives companies undergoing transformation access to senior group CFO profiles for short missions at high day rates.
For French mid-sized companies, competition with private equity funds for the best CFOs is the main market tension. A confirmed CFO in an industrial mid-size company can earn a third less than in an LBO context for an equivalent scope — and the funds know it.
The SME/mid-size CFO combines accounting, treasury, management control and often legal oversight. The upper bound applies to industrial mid-size companies with international subsidiaries and complex reporting.
The Group CFO owns investor relations, growth financing and M&A strategy. Equity (BSPCEs, free shares, stock options) can represent double the base salary over a 3-year horizon.
Leads budget production, performance tracking and management reporting. The upper bound is reached in multi-BU groups with advanced consolidation tools (OneStream, Tagetik).
Mastery of IFRS 16 (leases), IFRS 9 (financial instruments) and the new CSRD reporting requirements is an increasing differentiator. These technical profiles have been in demand since the extension of the CSRD scope.
Manages credit facilities, currency and rate hedging, and the treasury investment policy. In groups with bond debt, the relationship with rating agencies falls within their scope.
International taxation (transfer pricing, BEPS, Pillar Two) is the main compensation driver for this profile. Tax directors capable of managing global minimum tax (Pillar Two) have been particularly sought after since 2024.
The extension of internal control obligations (CSRD, DORA for financial groups) has reinforced the strategic role of internal audit. In listed groups, this position reports directly to the audit committee.
Leads acquisitions, disposals and joint ventures on behalf of the group. Variable is tied to deals closed and transaction IRRs. Below €130,000 in base, the best profiles typically prefer M&A boutiques.
An emerging profile: leads the digitalisation of the finance function (ERP, planning tools, reporting automation). Requires a dual finance and IT culture that most CIOs lack and few CFOs master.
The interim CFO is deployed in crisis situations (restructuring, disposal, post-acquisition integration) or as cover for an unplanned departure. For an 8-month mission at €1,500/day, total cost exceeds €240,000 — comparable to a senior permanent hire.
✦ An unusual format for a compensation study: the day rate reflects the urgency and specificity of the situation — the most capable permanent profiles are not available in this market.
Market insight 2026
Competition between PE funds and industrial mid-size companies for the best CFOs is the main market tension. A confirmed CFO can earn 30–40% more in an LBO context than in an industrial mid-size company — plus a management package. For companies wanting to retain their finance directors, the PE benchmark is the argument that unlocks the conversation.
Data from market observation and mandates conducted by Turgot Executive Search (2023–2026). Interim CFO day rates reflect market practices for senior CFO profiles in management transition. Annual gross figures unless otherwise stated, Paris market, excluding benefits in kind.
Select the sector you are interested in — a consultant will send you refined data for your specific market within 24 business hours.
Executive compensation in finance and real estate evolves each year, driven by competition for talent, regulatory changes (bonus caps in banking, salary transparency requirements under the EU pay transparency directive), and market cycles. An up-to-date compensation study is essential for calibrating a competitive offer or benchmarking an existing compensation structure.
Turgot Executive Search publishes an annual compensation study covering key leadership positions in finance — CFO, asset management CEO, senior private banker, portfolio manager, PE investment director, fund CFO, and compliance director. Ranges are indicative and based on mandates handled by our consultants.