ETF issuers, from startups to institutional giants, are increasingly publishing pay bands
Show Me the Data: ETF Industry Pay Gets More Transparent in 2025
ETF firms are starting to walk the talk when it comes to transparency and equity
Introduction
The ETF industry has long been known for its innovation in markets—but it’s now making waves in compensation transparency and pay equity, too.
As firms compete for top talent in a tight labor market, 2025 has ushered in a new era where what you get paid, and why, is finally coming into the light.
Compensation Benchmarks Are No Longer a Secret
ETF issuers, from startups to institutional giants, are increasingly publishing pay bands for key roles. Spurred by global pay transparency laws and employee demand, candidates now have more visibility into:
- Base salary ranges for ETF analysts, PMs, and operations roles
- Bonus structures tied to AUM growth or ETF performance
- Equity and long-term incentive packages, especially at boutique firms
New York, London, and Toronto-based firms are especially ahead, with some even disclosing bonus formulas and equity comp models during the hiring process.
Pay Equity Is Now a Competitive Advantage
The gender and racial pay gap in asset management still exists—but ETF firms are making progress faster than traditional fund shops. Why?
- Younger, mission-driven leadership at newer ETF issuers
- DEI-focused hiring and compensation audits
- Investor pressure for ESG-aligned internal practices
More firms are linking leadership compensation to internal equity goals and publishing anonymized compensation equity reports to build trust.
What Candidates Should Know
If you’re job-hunting in the ETF space in 2025, expect—and demand—clarity. Ask:
- “What’s the compensation range for this role?”
- “How is bonus structured and tied to ETF performance?”
- “Do you publish internal pay equity audits?”
Companies that can’t or won’t answer these questions may soon find themselves at a hiring disadvantage.
Fast Facts:
- Median total comp for an ETF Product Manager: $185K
- Capital Markets Analysts saw avg. bonuses up 18% YoY
- Women now make up 37% of ETF leadership roles (vs. 29% in 2022)
The Bottom Line
ETF firms are starting to walk the talk when it comes to transparency and equity—not just in the products they offer, but in how they pay the people behind them. As pay equity becomes table stakes, the firms that lead with clarity will win the war for top-tier ETF talent.