Hello! I would love to learn what the average salary for a first year analyst at a Multi-Family Office would be in a major city... would MFOs and SFOs have similar pay given similar AUMs? How would it compare to IBD base salary? Thanks!
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Didn’t know family offices hired first year analysts
The average salary is somewhat variable; you'll likely be lowballed for the first year. It's a difficult industry to break into... They're basically doing you a favor by giving you a job in the first place. At least that's what happened to me. All you can do is suck it up and learn very high-level finance that some people don't learn until 3-5 yrs into their careers.
That being said- you will see some sfo/mfos with great first-year salaries. The AUM of an office doesn't depend on the number of families involved.
IMO: The salaries are better in IB but you're going to have to go through more irrelevant (if you actually want to learn/practice finance) sell side bs.
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