Stay in Family Office with great WLB, exposure, responsibility and team relationships or jump to something more intense?
I am +3 years in working at a SFO (~$1B AUM) as an investment analyst/associate (total 4.5 years WE, previously worked mid-office in RE MF). I genuinely enjoy my job and it's been mostly great so far. The firm has done extremely well in the last 2-3 years and executed a pretty significant turnaround in NAV that I played a big part in. I have a great relationship with my boss and I rarely work >50hrs a week. I work across many different sectors/asset classes, closed ~20 investments (mix of direct deals and LP commitments to funds; $1-3MM check size), and direct one of our RE property teams as part of my responsibilities. The broad multi-asset perspective is intellectually stimulating and is probably my favorite aspect of this role. I work directly with the CEO (small team, investment team is him and I) and I have a great relationship with him. I have experience with a niche RE asset class which the FO has a large exposure in and I know I'm valued because of that.
The problem is I don't want to get stuck here and I feel like I'm behind in comp. I'm going to make ~$200K in total comp this year. I asked my boss for a ~15% raise on top of that because I know I can probably make more somewhere else (another FO, or traditional buy-side RIAs) and my role is difficult to back fill so I know I have some leverage. Our firm is also slowing down capital deployment as liquidity is tight so I'm going to see less opportunities for deal experience.
I like working in the buy-side but I'm not sure how much working as a junior in a SFO serves me for advancing in that space. At the end of the day I would like to execute what I accomplished here at this SFO but at a larger scale. Then again I'm hesitant to leave a good set-up.
Should I take the raise if it comes? What roles should I be targeting if I decide to jump?
Based on the most helpful WSO content, your situation reflects a classic trade-off between comfort and growth. Here's a breakdown of your options and considerations:
Why Stay?
Why Leave?
Next Steps:
Final Thoughts:
If you’re hesitant to leave a good setup, securing the raise and staying for another year while exploring options on the side could be a balanced approach. However, if your long-term goal is to scale your impact and comp, targeting larger platforms or institutional roles is the logical next step.
Sources: Employment Dilemma, Burned out at dream job - time for a change?, How bad is getting fired in RE? Any comeback stories?, Okay so I've got an offer. Now how to negotiate a higher offer?
I’m in a very similar position and really unsure what to do. I think I just need to take advantage of the fact that I work 9-6 and spend my free time building something on my own
Think there's a real risk you run into red tape, bad management, lack of rope/growth pathway etc in a larger platform even if year 1 comp is higher.
If you like the work, management treats you well, good hours and they're willing to give you some comp upgrades and maybe start discussing a broader scope of role/title bump, I would stay. Low-mid 200s for a mostly 9-5 with under 5yrs experience is pretty solid. I know it's hard to watch your friends making $300k in PE, but they're working 80-100% more hours and a lot of them won't be in PE in 5 years anyway... imo play the long game if you have runway at your current firm and like the job.
Seconding this OP. If the job is chill, pays well, and has great hours just take the W. Try to build a record of title promotion. The job market is anemic right now and shows no signs of turning anytime soon so better to keep the rock solid spot and hunker down. Try to find some stuff you can do on the side in an interesting sector with all that extra time and use that to beef up your experience. PE is not as golden as it looks from the outside, especially nowadays.
I hear you. It's definitely not a bad thing to stay here but I think my biggest concern is career track. The experience and exposure I'm getting here is pretty valuable no doubt but as more time goes on it will be tough to transition to something new. Every FO structure is different and the space is so opaque, even to people working in the broader financial industry. So, it might be difficult for someone else to understand what I did.
What is it you aren't getting, learning or opportunity wise, at the current position? Where do you want to be in 5 or 10 years that isn't the CEO where you currently are - as it sounds like that's the 'track' you are on, should you stay - a great opportunity, and if you haven't I would absolutely have that discussion with them given your relationship including compensation progression.
That mix of exposure, experience, and culture is extremely hard to find - only a few years in, you are in a decision making role across a $1b of capital making cross asset class allocation decisions, including direct investments - and every year, you have more track record and seniority to back it all up. This world is small and I think people will 100% appreciate what you do and your overall experience – I wouldn’t be too afraid of that. Compensation matters, and it’s a personal decision you need to make – how much does it truly matter, and importantly what trade offs will there be to truly maximize it. I don’t view you as far behind or off track at all, FWIW.
My advice? Chart out the next few years, be patient, absorb everything you can, and start getting involved in ancillary activities - network around the industry, maybe get on a board or two and ultimately be part of a finance or investment committee, go do some hobbies - round yourself out, build some experience, and start looking for opportunities that interest you. Ultimately - I think many roles you'd jump to, right now, might 'pay' you more - but end up being a step back for you career wise. Chess not checkers - position yourself for the next 30 years, not the next few and sell your options dearly including any role changes.
Seeing an actually helpful comment on WSO is a breath of fresh air.
I'd also add, what are his life goals and where does he see himself personally in 1-3 years from now, outside of work. An extra 100k but working 80-100 weeks where you're easily replaceable doesn't exactly sound like a great trade off, especially if you're already making 200k. Throw in taxes, and is that post 50k-60k net gain worth it? As someone who's going to be 30 this year, absolutely not imo. It's never worth grinding that much unless it's your own business. At the end of the day, finance is just a very well paying job. Nothing more, nothing less.
These last two sentences really NEED to be expressed to those in IB and PE. These are just jobs at the end of the day.
is your boss close enough to retirement that you could realistically succeed him? how much money do you think he makes? are any women in this family below the age of 30 and attractive such that i can try to influence your comp post marriage to this hypothetical individual?
Nostrum et necessitatibus illo harum ut atque ut. Rerum exercitationem reiciendis tenetur nesciunt voluptate. Quis velit officiis amet qui sit atque. Cupiditate eos voluptatibus quisquam soluta. Dolor et aperiam nam blanditiis delectus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...