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Family office insights this week:
Top family office roles, their compensation plus ideal credentials
How Kylian Mbappé is keeping it in the family
What type of family office is best to work for?
London property drama doesn’t quite cut the mustard
Three notable family office jobs currently available
Family Office Careers and Comp
This week it’s a simple one... a look at the different career paths in family offices.
Whether you’re looking for a change of sector or to ride the family office wave, we look at the key details of family office careers:
The jobs
The salaries
The background and credentials required
A note on the appeal of family offices according to a new member of a West Coast family office:
“I really like the idea of taking a more holistic approach to influencing individual clients. You get to focus on the whole picture rather than just part of financial life it seems!”
Below is a shortlist of top roles within the categories of Executives, Financial and Investment, Trust and Governance, Security and Technology, Philanthropy and lastly Lifestyle Management and Support.
Executive Roles 👔
Chief Executive Officer (CEO)
The big cheese. Directs the overall operations of the family office, setting strategic objectives, and ensuring alignment with the family's goals. Typically, the higher the AUM, the more likely the CEO will be a non-family member.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $500 million: $456,250 - $925,000
$500mn - $999 million: $388,000 - $794,000
$1bn - $2.49 billion: $735,085 - $1,315,000
$2.5 billion+: $1,052,679 - $2,475,000
Background: CEOs often come from executive leadership roles in corporations, private banks, investment firms, or other family offices. They should bring experience in strategic planning and operations management.
Chief Financial Officer (CFO)
Manages financial planning, reporting, liquidity and risk management.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $500 million: $236,500 - $414,831
$500mn - $999 million: $430,000 - $750,000
$1bn - $2.49 billion: $429,227 - $762,500
$2.5 billion+: $548,500 - $900,704
Background: Accounting and finance is pretty much essential. Must tick the usual boxes: financial reporting, budgeting, tax planning, and regulatory compliance. Family offices seem to like hiring CFOs from Big 4 accountants, big corporations or other family offices.
Chief Investment Officer (CIO)
Oversees the family's entire investment portfolio, setting strategy, and managing risk.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $500 million: $456,250 - $925,000
$500mn - $999 million: $399,375 - $1,106,994
$1bn - $2.49 billion: $735,085 - $1,315,000
$2.5 billion+: $1,096,200 - $1,600,000
Background: Must be experienced in investment management, portfolio construction, and risk analysis. Usually hired from investment banks, hedge funds, private equity firms, or asset management firms.
Financial and Investment Professionals 💰
Portfolio Managers
Focus on growing and preserving the family's wealth through diversified investments in equities, real estate, private equity, and hedge funds.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $500 million: $185,000 - $279,375
$500mn - $999 million: $201,250 - $373,750
$1bn - $2.49 billion: $266,251 - $514,000
$2.5 billion+: $324,608 - $643,716
Background: investment management, financial analysis, or related fields. They may come from investment banks, asset management firms, or other family offices.
Investment Analysts
Conduct research and analysis to support investment decisions.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $1 billion: $134,250 - $189,714
$1bn - $2.49 billion: $137,325 - $190,750
More than $2.5 billion: $165,625 - $209,003
Background: finance, economics, or related fields, with strong analytical and research skills. Often hired from investment banks, asset management firms, or other research-focused roles.
Trust and Governance Professionals ⚖️
Family Governance and Succession Planning Specialist
Establishes clear family rules, resolves conflicts, and prepares the next generation for leadership roles.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $1 billion: $117,500 - $191,750
Background: Family governance and succession planning specialists often have backgrounds in family dynamics, conflict resolution, and leadership development. They may come from the Big 4, specialist consulting firms, non-profit organizations, or other family offices.
Security and Technology Professionals 🔒
Head of Security
Ensures the safety and security of the family's properties and members.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $1 billion: $87,000 - $150,000
More than $1 billion: $183,750 - $386,200
Background: typically law enforcement, military, or private security, with experience in risk assessment, security planning, and crisis management. They may come from security firms, corporations, or directly from UHNW individuals.
Chief Technology Officer (CTO)
Manages the technology infrastructure, ensuring it meets the family's needs.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
All organizations: $175,000 - $345,000
Background: IT or related fields, with experience in technology strategy, infrastructure management, and cybersecurity. They may come from tech companies or consulting firms.
Philanthropy 🎗️
Foundation Director
Helps align strategic philanthropic initiatives with the family values.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $1 billion: $147,500 - $242,696
$1bn - $2.49 billion: $220,000 - $294,250
More than $2.5 billion: $267,647 - $525,000
Background: typically nonprofit management, philanthropy, or social impact. They may come from charitable organizations or foundations.
Lifestyle Management and Support Roles 🧳
Lifestyle Managers and Personal Assistants
Coordinates travel arrangements, event planning, and manage household staff.
Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)
Less than $500 million: $120,000 - $180,000
$500 million - $1 billion: $150,000 - $250,000
$1 billion - $2.5 billion: $180,000 - $300,000
Over $2.5 billion: $220,000 - $400,000Background: often hired from hospitality, event planning, or administrative backgrounds. Experience in managing prominent or high-net-worth individuals is particularly important.
→ A note on salaries - sources: Morgan Stanley 2023 study of US family offices, Riveter Consulting Group, UHNW Staffing report.
→ A note on jurisdictions - the location of the family office will have a major impact on compensation, with NY, LA and San Fransisco typically commanding the highest salaries in the US.
Breaking Into the Family Office World
If you are looking to break into the family office world, take a look at the newsletter How to get a job at a Family Office.
Otherwise you can view the full list of family office roles with salaries and ideal credentials here.
𝕏 highlights
On topic, a career tip:
Career tip:
All things being equal, I would usually advise people to work for a family office with an active operating company rather than one without
Regular dividends flowing into the family office has two key advantages:
1. More investment activity
With consistent cash… x.com/i/web/status/1…
— Mr Family Office (@MrFamilyOffice)
5:05 AM • May 28, 2024
How Kylian Mbappé is keeping it in the family.
Kylian Mbappé has a formidable family and a growing family office
His mother Fayza Lamari, a former handball player, is Kylian's defacto agent
She has a fierce reputation as a negotiator and was behind his move from PSG to Real Madrid
One Real Madrid insider described Lamari… x.com/i/web/status/1…
— Mr Family Office (@MrFamilyOffice)
12:10 PM • Jun 3, 2024
One to ponder over a glass of wine on Friday. 🍷
Is the world run by functioning alcoholics?
— Mr Family Office (@MrFamilyOffice)
3:00 PM • May 31, 2024
💼 where to work
📻 what to listen to
The Bulletin with UBS summarizes the UBS GlobalFamily Office Report. It’s short and sweet, so if you need a more detailed summary, there is always last week’s newsletter!
A good summary of the UBS Global Family Office Report (podcast)
For a written summary and key charts, see the latest newsletter
— Mr Family Office (@MrFamilyOffice)
11:27 AM • Jun 3, 2024
📺 what to watch
Netflix has released Buying London.. the UK version of Selling Sunset.
I’ll be honest, I only managed one episode. I came for the properties, I left because of the cast.
And finally…
Are you hiring?
Are you applying?
Hit reply and let me know.
That’s all for this week, see you on Monday for Family Office Buzz
Until next week, see you on 𝕏 or LinkedIn
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