Family Office Exit Options / Career Questions

Based on the most helpful WSO content, here are the insights for your questions:

1. Career Paths if the Role Doesn't Work Out:

   • Corporate Development/Strategy/Corporate Finance: Transitioning to these roles might be challenging but not impossible. The skills and experience gained in a family office, especially in direct investing and minority investments, can be valuable. Networking and leveraging your experience in deal-making and investment strategy will be crucial.
   • Other Options: You might also consider roles in asset management, wealth management, or even other family offices. The diverse exposure to public equities, secondaries, and FoF investing can open doors to various investment-related roles.

2. Strategy Commonality for Single-Family Offices (SFOs):

   • Minority Investments: It is not uncommon for SFOs to focus on minority investments. While some SFOs do engage in full buyouts, many prefer minority stakes to maintain flexibility and reduce risk. The strategy can vary widely depending on the family's investment philosophy and goals.

3. Compensation Expectations for VP/Deal Lead in HCOL Areas (NY/BOS/etc.):

   • High Cost of Living Areas: Compensation for a VP/Deal Lead role in high-cost living areas like New York or Boston can be quite competitive. While specific figures can vary, you can expect a substantial package that reflects the high cost of living and the level of responsibility. For reference, compensation packages for similar roles in these areas can range significantly, but aiming for a total comp package in the high six-figures to low seven-figures is reasonable, depending on the specifics of the role and the family office's compensation structure.

These insights should help you evaluate your potential move and understand the landscape better.

Sources: US cities Ranking (compensation based), Leave PE for Corp Dev VP role?, Where is the compensation in banking? Is it worth taking a pay cut for the long-term prospects?, Is this associate compensation competitive?, Do BB bankers really make that much money when you adjust for the cost of living?