Family Office Comp Thread 2024
All, I figured it might be worthwhile to aggregate some comp data for those of us working for family offices (both SFOs and MFOs). I have been using broader REPE data points but I realize that those aren't necessarily the best benchmarks given structural differences between a FO and REPE fund, even if the investment work we do is in many ways the same. I'll start.
YOE: 4
Base: $150k
Bonus: $100k
Carry: Estimate to be worth around $50k/yr
Strategy: Equity investments into acquisitions and developments, all product types
AUM: $5b+
Where does one get one of these jobs
Bump
Have you added that comp here yet? If not, please do:
https://www.wallstreetoasis.com/forum/real-estate/new-comp-database-goo…
Yes
Could be helpful to add market as well for future comments/editing ur initial post
YOE: 3.5
Base: $120k
Bonus: 10% + $12.5k for deals sourced under $10m, $20k for $10m+. I value this income at $0 for the next year or two.
Carry: N/A
Strategy: Equity investments into acquisitions, all product types
AUM: Don’t really know, I’ve been told a couple billion, but when I look at our actual equity invested + size of deals we’ve been pursuing recently, I’m guessing it’s like $250-$400m
Market: West Coast, HCOL
Feeling kind shafted on TC, but matches the sentiment I shared about this shop on my previous thread.
YOE: 12
Base: 180
Bonus: 30%
Carry: None. Option to invest at LP terms on RE developments (no promote).
Strategy: MF developer. I do not work on RE sourcing side - portfolio/investment management for entirety of AUM (publics, PE, credit, RE, etc.)
AUM: $500mm
Market: West Coast, LCOL compared to Bay Area/LA, but high anyways because it is CA.
Semi-actively looking for new role given lack of long term incentive comp.
Not to be a dick, but for 12 YOE this is pretty far below market for total comp correct?
Ultimately hard to tell given general FO oddities, non-primary market in CA, etc…but I personally 100% agree with you, hence the semi-actively looking for a new role.
Every FO is wildly different, but in my current position I’m taking the certainty of a $500m portfolio and an incredibly small team over the development op-co.
Yeah, that's kinda what you get at a family office. The trade off is usually the culture is a lot more chill/laid back.
Not sure about “similar” shops, but on the FO side there’s 5 total, 3 on the investment side (myself, patriarch, and one other), CFO, and controller.
Roughly a similar headcount for the RE op-co, plus a couple more accountants.
Bump
YOE 3.5
Salary $125k
Bonus: 10%
Incentives: $10k per deal/any deal closed under $10MM, $20k per deal/anything above.
Small Carry on deals: very lean team but can’t complain. However, There is a time restriction here.
Hours: roughly 60/week.
Mixed-use/MF value add.
Northeast: HCOL city.
A lot of people go back and forth on family offices v. Corporate. I enjoy it - I have learned so much more in all things rather than just acquisitions (or any singular role) at corporate level. Pay is good, the barrier is how high can I climb? Also, not a fan of having to wait 7 years to receive carry payout (low millions) - possibly will go out on my own before then.
What is AUM broadly?
YOE: 3
Base: $126k
Bonus: 20%
City: company is HQ in HCOL west coast, but I live in a LCOL city close to some of our assets in PNW.
AUM: $300m, portfolio is net 30% levered.
Team: 3 people (prez, controller, myself). Room for growth.
TBH gig is really chill, and learning a lot (admittedly self directed, as I’m in charge of all portfolio and acq without much direction from prez). Not looking to move anytime soon!
Hours variable, but never more than 40 a week. Depends on presentations to shareholders and any random things that pop up. Portfolio is a mix.
How did you land this
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