The 2022 North American Private Equity Operating Professional Compensation Survey, conducted by Heidrick & Struggles, provides a comprehensive view of compensation for executives in the private equity industry. The report, which also includes a survey of investment professionals, finds that firms are increasing compensation and providing more job flexibility to attract top talent. The survey is the only one of its kind and suggestions are welcome. The authors would like to thank Mohd Arsalan and Akshat Singhal for their contributions to the report.