Family office pay: Where you can earn $8m+
You may earn a lot of money running the family office for a high net worth individual. In the US, family office roles can pay a combined salary and bonus of up to $1.8m.
Click here to join the bubble by eFinancialCareers, our new anonymous community. ✍️
Staff in family offices invest money on behalf of wealthy families in a number of assets including real estate, fixed income, and stakes in hedge funds and private equity firms. Family offices have very few clients, often just a singular 'principal' representing a family. They don't employ many people and their roles can be very lucrative.
Executive search firm Heidrick & Struggles has released a compensation survey for family office employees. Heidrick mostly surveyed family office CEOs, CIOs and managing directors.
The survey found that family office staff in the northeast US (including cities like New York and Philadelphia) expected to earn an impressive $1.8m last year. Respondents in Switzerland had the highest salaries and bonuses in Europe, earning $648k in salaries and $230k in bonuses
That's not the whole story, though. Family office employees can also earn carried interest in the style of private equity professionals [add link] if investments are exited at a profit. They can also be permitted to co-invest alongside the family office.
Carried interest, co-investments and other 'additional incentives' were only on offer to ~35% of the survey respondents, but they can be very valuable. In Switzerland, where these incentives are most common, pay for family office staff was $7.2m on average, making it the highest paying region for family office pay overall.
Have a confidential story, tip, or comment you’d like to share? Contact: Telegram: @AlexMcMurray, WhatsApp: (+1 269 237 3950). Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
