Family offices, which manage wealth for affluent families, are increasingly offering high salaries to attract top talent, particularly for executive assistants. Current base salaries for these roles can exceed $140,000, well above the industry average of $81,500 for senior executive assistants. Responsibilities often extend beyond typical administrative tasks to complex duties like arranging travel and managing domestic staff.
Research by Deloitte shows there are about 8,000 single-family offices globally, with nearly 3,200 in North America. The median salary for family office executive assistants is around $100,048, with larger offices paying roughly 35% more. Bonuses typically add an additional 10% to 20% to base salaries. Top-performing assistants can earn up to $240,000, factoring in bonuses and long-term incentives.
Recruiters highlight that finding suitable candidates is challenging, often requiring extensive experience and elite educational backgrounds. Roles demand significant commitment, including travel, and candidates must be adaptable to various tasks.
Despite the high compensation, the work can be challenging due to the personalities of ultra-high-net-worth individuals. Overall, family offices are realizing that investing in skilled personnel leads to better service and satisfaction.
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