Standard Searcher / Operator Compensation?

searcher profile

July 02, 2025

by a searcher in Boston, MA, USA

I understand that salaries for self-funded searchers in the operator / manager seat vary based on a number of factors (particularly location), but have found that $150,000 seems to fairly standard these days. Is that agreed up salary generally the extent of total compensation, or does the searcher also generally reap benefits like insurance and retirement contributions in excess of that? This would be in the context of a searcher raising their equity from investors outside friends & family - think self-funded investors found on Searchfunder, etc.
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commentor profile
Reply by a searcher
from Rice University in Columbus, OH, USA
Everything is a negotiation but there are benchmarks you can use to help influence that negotiation. Check the 2024 Search Fund Study on the Stanford CES site. Page 22, exhibit 9. In addition to things like geographic location, business size, profitability, etc, this study should be your most helpful tool to benchmark against what’s “standard.”
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Reply by a searcher
from Stanford University in New York, NY, USA
There are no hard and fast rules. You need to sell your comp package to your investors, so it should be fair and reasonable but give you enough that you are not financially stressed. Generally I'd expect comp to be a % of EBITDA with a floor, e.g. 5% of EBITDA with a $150K floor or whatever. You can also put a bonus plan in place for yourself.
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