No, but pay isn't based on how hard the work is. It's based on the value provided, and/or on the influence the individual has; and somebody able to attract 1bn is much more influential than someone with just 1m under management.
Part of raising money from (most) LPs requires a bit of showmanship akin to that of Lawyers and Investment Bankers. This goes beyond the taking a "client" out to dinner. It's the expectation of living a specific lifestyle and the perceptions the wealthy have of those asking for money. Also, consider the amount raised (typically XX million+). That usually allows you to pay $200-300k salaries (though whether that's right / justified is a different conversation).
As wealth changes hands over time, this expectation may change.
I understand that but I can see fellow founders condemn other founders for taking an above avg salary or as was the case with the founders who took $6m [0] off the table during funding...
Surely the Lp's should look at such high salaries as exorbitant..
