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Family Office Advisor - A View of the Industry
Family Office Advisor - A View of the Industry
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davidjohn6366
26 posts
Nov 10, 2022
11:18 AM
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There are two challenges that immediately come to mind when trying to find a job within the family office industry. Both of these challenges could prevent you from receiving a job and should be taken in to consideration when undergoing a job search.
1. Compensation levels can be a real challenge within the industry. To get the best talent that can wear multiple hats and move quickly and really serve a family office well you often do have to pay close to top dollar and a lot of family wealth offices are ran by entrepreneurs that are somewhat thrifty and have watched the dollar from the beginning to make sure it is not spent unwisely. And they might not be comfortable paying $750,000 or $650,000 a year. So that can be a challenge just overcoming that hurdle can be a big problem.
2. Another challenge I wanted to mention was that because of the reputation within the industry a lot of people are afraid to even go interview for a job because maybe someone in that office building will recognize them and realize that they are interviewing for a job and they are worried it will get back to their current employer, they'll lose their job, and it could take them a couple years to find another great job working at a large family ???? office. It's a very real concern, and the executives that come to me, one of the first things they talk about is just being discrete in what they are looking for and making sure we do not mess up their current career and the progress they're making there.
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