Family offices are offering high salaries to attract top talent, not just for executive positions but also for administrative roles. In some cases, executive assistants at ultra-wealthy family offices can earn base salaries of up to $190,000, with additional bonuses pushing total compensation even higher.
With competition for skilled professionals heating up, family offices are matching and even surpassing Wall Street in pay. While salaries vary depending on the office’s size and scope, experienced executive assistants now frequently command base salaries above $140,000, significantly exceeding the industry average of $81,500 for senior executive assistants, according to recruiters interviewed by CNBC.
Globally, there are around 8,000 single-family offices, with nearly 3,200 based in North America, according to Deloitte Private. These roles often require handling a broad range of responsibilities beyond standard administrative duties, such as overseeing household staff, coordinating extensive travel, and managing unexpected crises.
“You have to be ready for anything,” said Jonathan Hova, senior vice president at Career Group. “If a pipe bursts in Southampton in the middle of winter, you’re expected to be there.”
According to a survey by Botoff Consulting, the median base salary for executive assistants in family offices is approximately $100,048. At larger family offices managing over $2.5 billion in assets, salaries are about 35% higher. Annual bonuses, typically ranging from 10% to 20% of the base salary, further boost total compensation.
The highest-paid 10% of executive assistants earn nearly $189,000, with some receiving total compensation packages reaching $240,000 when factoring in bonuses and long-term incentives.
“Some families may experience sticker shock,” said Trish Botoff, founder of Botoff Consulting. “But they value the ability to control the quality of service and the professionals providing it.”
Many executive assistants in these roles are required to travel frequently with the principals they support, sometimes even on holidays. Recruiter Dawn Faktor Pincus noted that one family office is offering over $200,000 in total compensation for an assistant who must travel at least once a month.
The high salaries reflect not only the demanding nature of the job but also the selectivity of ultra-wealthy employers, who often prefer candidates with Ivy League degrees or experience working with high-net-worth individuals. Faktor Pincus recalled placing a graduate of a top university—who was also an aspiring novelist—in a family office seeking an assistant with a creative background.
“There’s a limited talent pool,” she said.
Most family offices require candidates to have at least five years of relevant experience, with some expecting eight to ten years due to the complexity of the role.
“They are deeply involved in the family’s daily life, making this one of the most critical hires,” said Fira Yagyaev, head of wealth management and family office services at Larson Maddox.
Despite the prestige and high pay, the role comes with challenges, including demanding personalities.
“At least 10% of the job veers into personal assistant duties,” Hova said. “It’s always a service role.”
And working with ultra-high-net-worth individuals isn’t always easy.
“They didn’t get where they are by being sweet and easygoing,” Faktor Pincus added.
