While the unique nature of a Family Office is part of its allure, it is also what makes compensation benchmarking extremely difficult.
A Family Office requires a distinct skill-set, incomparable to any other working environment, and it makes the decision over compensation often a product of guess-work and emotion rather than built on research or precedent.
To add to the pressure, most of the professionals that Family Offices search for derive from the very benchmarked environment of Financial Services and are accustomed to a consistent and familiar compensation structure.
It was this age-old Family Office problem that led us to create a renumeration report in 2015 which has expanded to become one of our most sought after services.
For the last five years we have published an annual report on Global Compensation Benchmarking within Family Offices, monitoring the salaries, compensation, and demographic of Family Office employees across the globe. It also identifies their Assets Under Management, the asset class they favour and how their compensation aligns with both.
The report has proven to be an insightful read, magnifying trends specific to each corner of the world but while it offers a high-level overview, we also work on an individual-basis with Family Offices unsure of how to compensate their talent.
We work with Family Offices across the world to ensure they are compensating their talent efficiently and making the most of an exceptional hire. If you are interested in Compensation Consultation, please reach out directly via call or email.