We analyzed the variability in vendace population parameters in the context of a life table. Parameters related to growth, fecundity and survival were estimated for post-recruitment (age > 1 growing season) life stages of Lake Southern Konnevesi vendace in both very high and low population abundance regimes. Pre-recruitment survival producing population stability was then determined. We found a very strong compensatory density dependence in growth, fecundity and survival: during low abundance, a lifetime reproductive output of a female was almost 20 times that of the abundant regime. To maintain the low abundance regime, pre-recruitment survival must counterbalance it by decreasing to a very low level. Potential drivers of high variability in pre-recruit survival and potential for depensation, Allee effect, are discussed, as well as the implications of the results on fisheries management and risk of extinction due to anthropogenic stressors such as global warming or extensive predator stocking.