I've been approached with an interesting opportunity with an urban, mixed-use developer. The position is a step up from what I am doing now in terms of respoinsibilities, comp, etc. The group's portfolio is impressive. I do not know much about how well-capitalized this group is, but they've been in the game for decades and are very active, even today. It's also in a market i want to be in across the country. They are willing to fly me out for an in person interview.
However, what gives me hesitation is that fact that this is a small family office and the face of the company just seems pretty egoistic. The company is named after his father, who is now a chairman. His son, we will call him Junior, is now the CEO. His wife is the COO. The website "about section" is literally a bio of Junior, no other mention of the team. The company is about 10 people. Every news article on his projects are direct quotes, pictures of him, etc.
Maybe this is standard for a family office, I've only worked for middle-market and institutional sized companies. Does or has anyone worked for a similar group? Have you run into challenges in terms of career growth, autonomy, etc. due to working under a single face of a company?
Thanks!
I dont know your specific situation and neither does anyone else, not sure we'll be much help for you.
I can tell you the family office I work for is more of an "old money" family so their senior leadership is primarily non-family members and the family stays out of the news. Its been great working for them. But like anything else you just need to keep looking forward. Your next stop probably isn't your last but if its a means to an ends then keep pushing, you just need to know when its the right time to jump.
good luck
Ego driven firms are common in real estate and well everything, hardly unique to a 'family office' but I guess easier to do with the name being on the door.
I think you should always be concerned with culture and climate, this makes a big impact on enjoyment of a job. Sadly, I've had jobs where the boss was very ego-centric and he had essentially zero ownership of anything. I don't really know how you figure out if this is a 'toxic' place or not. If you can find people who used to work there, I'd reach out to them and ask. If they have a high-rate of turnover, I would consider that a red flag.
None of that has to do with it being a 'family office', just standard company/job DD.
Fucking real estate, I swear
fuck....I work for a company named after the father in some capacity.
Hah, it's not a universal truth or anything. Hines, for example, is far from being a clown show.
There's a fair bit to unpack here.
First off, do the other employees say this is an awful place to work? The fact that the CEO is a glory hound doesn't necessarily mean it's a bad shop. If they do interesting deals, and the boss will stay out of your hair, and you'll be compensated appropriately... then it comes down to what you want out of this job. If your goal is to have your name in the trade rags, and get the external-facing credit for your work, then maybe move on. But there aren't a ton of mid level roles out there where you're the face of the company; and while the founder's son maybe an egotistical maniac, he may also genuinely feel it helps the company brand for it to look like the family is still driving new business and getting shit done.
At the end of the day it comes down to what you want from the job. The two major issues, I would think are the ability of the firm to do new deals (which you mentioned you don't know for sure yet) and whether everyone else seems content with the office dynamic.
If you are given the ability to do your job (and compensated for it, obviously), other people in the industry will understand what you're bringing to the table, even if the Real Deal isn't mentioning you every other week. If you need more recognition than that, which is fine, then maybe move on
Aliquam eaque officiis aut dolorem. Sit asperiores hic corrupti similique enim quo porro.
Quisquam quia eum voluptatem eligendi ut. Asperiores quasi exercitationem nihil nostrum ut quisquam. Placeat rerum aperiam quidem aut consectetur eius dolore. Id error dolor culpa voluptatum.
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...