Red flag if no technical questions asked at FO interview?

Based on the most helpful WSO content, there are several potential red flags in your situation, but they also depend on your career goals and priorities. Here's a breakdown:

1. No Technical Questions Asked:

   • This could indicate that the role is less technical and more relationship or strategy-focused. While not inherently a red flag, it might suggest that the firm values fit and soft skills over technical expertise.
   • However, for a family office (FO) managing single-digit billion AUM and focusing on private debt, you'd expect at least some technical evaluation to assess your ability to analyze deals. The absence of technicals might imply a less rigorous investment process, which could be a concern if you're looking for a role with strong professional development.

2. "9-6 Guy" Question:

   • This could indeed hint at a culture where work-life balance is not prioritized, despite being better than traditional PE. It might also reflect a perception that you're not expected to work beyond those hours, but the tone and context matter.
   • If you're already working 50-60 hours/week and the FO expects similar or more hours for lower pay, this could be a misalignment with your expectations.

3. Lower Pay:

   • Family offices often pay less than traditional PE or GP roles, but they can offer other benefits like flexibility, autonomy, or exposure to diverse asset classes. If the pay cut is significant and the role doesn't align with your long-term goals, it might not be worth it.

4. Investment Mandate and Focus:

   • The agnostic investment mandate and focus on private debt deals could be a positive if you're looking for variety, but it might also mean a lack of specialization or clear strategy.
   • The 10% annual return target is reasonable for private debt but could indicate a conservative approach, which might not be as exciting or challenging as other opportunities.

5. Cultural Fit and Development:

   • Family offices can have unique cultures, often influenced by the family head. If the second interview with the family head didn't provide clarity on their vision, expectations, or how they value team members, it might be worth probing further.
   • Additionally, if the FO lacks a structured environment for growth or mentorship, it could limit your professional development compared to GP roles.

Recommendation:

• If you're unsure, consider asking more direct questions in follow-up discussions. For example:
  • What does success look like in this role?
  • How are investment decisions made, and what role would you play in the process?
  • What is the expected work-life balance, and how does the team support it?
• If the answers don't align with your goals or raise further concerns, it might be better to focus on GP investment roles or other opportunities that better match your aspirations.
  
  Sources: Family office Private Equity - help, Some Red Flags During an Interview?, Quick plug for LMM PE re: Work / Life Balance, Family Office Private Equity, Family Office vs. Traditional LP Career Path