Family office c-suite salaries rise, bonuses and benefits steady
Top-tier salaries in family offices have increased since 2016 with most chief executives now paid more than $300,000 a year, a study by Agreus reveals.
Chief executives and investment related roles also generated the biggest bonuses of between 31% and 50%, with the high-end receiving more than 50%. However, the percentage of salary paid as bonuses was similar to the findings last year by the family office resourcing and recruitment consultancy.
The third Family Office Compensation Benchmark Report surveyed more than 250 ultra-high net worth family offices and discussed by a moderated panel of family office specialists in London on 29 June (pictured). The majority of chief executives/managing directors (31%) and chief information officers (26%) were found by Agreus to be paid on average more than $300,001, up markedly from between $150,001 to £200,000 from the previous year’s report.
The increases “may be due to the fact that bonuses have generally taken a hit due to reduced investing during a period of uncertainty,” the report said.
Most chief financial officers or financial controllers at 22% earned $100,001 to $120,000. The narrow majority of accountants at 18% earned $65,001 to $75,000. Most investment/portfolio managers (also at 22%) earned $75,001 to $100,000. A third of investment analysts earned $65,001 to $100,000, while most office managers (31%) were on $45,001 to $55,000. Up to 16% of legal counsel earned either $75,001 to $100,000 or $120,001 to $150,000.
The vast majority (72%) of family office employees across all roles received a discretionary bonus. However, 15% did not receive a bonus at all....MORE