Family Offices Pay Executive Assistants Up to $190,000 as Demand for Talent Spikes

As the ultra-wealthy continue to amass significant assets, the demand for top-tier executive assistants in family offices has surged, leading to increased compensation packages. According to recent data, family offices are now paying executive assistants up to $190,000 per year, reflecting the high demand for skilled and experienced professionals in these roles.

The median base salary for executive assistants at family offices is $100,048, with larger family offices paying about 35% more, according to a survey by Botoff Consulting. Additionally, annual bonuses, which typically range from 10% to 20% of the base salary, further enhance the overall compensation package. The top 10% of administrative assistants at family offices can see all-in compensation of up to $240,000, including bonuses and other benefits.



Several factors contribute to the increasing demand for executive assistants in family offices and the subsequent rise in compensation for these roles. Firstly, the growth in the number of family offices worldwide has led to an increased need for skilled professionals to manage their complex operations and personal affairs. Secondly, the complexity of family office operations, which often involve a wide range of responsibilities, requires executive assistants with a diverse skill set and the ability to multitask. This complexity, in turn, necessitates higher compensation for these roles.

Moreover, the talent war between family offices and Wall Street has driven up salaries not only for investment roles but also for administrative staff, including executive assistants. This competition for top talent has led to higher compensation packages to attract and retain top-tier candidates. Additionally, the increasing wealth and assets under management by family offices have contributed to the growing demand for high-quality executive assistants, with larger family offices paying higher salaries to reflect the higher demand for skilled professionals in these environments.

Furthermore, the growing interest in private equity and alternative investments has led family offices to seek executive assistants with specialized knowledge in these areas. This demand for niche expertise has contributed to higher compensation for these roles. Lastly, the shift towards more flexible work arrangements, such as hybrid or remote work options, has led family offices to offer more competitive and comprehensive compensation packages to attract and retain executive assistants who value work-life balance and flexibility.

In conclusion, the increasing demand for executive assistants in family offices, coupled with the talent war between family offices and Wall Street, has led to higher compensation packages for these roles. With median base salaries of $100,048 and top-tier assistants earning up to $240,000, family offices are investing in top talent to manage their complex operations and personal affairs. As the ultra-wealthy continue to amass significant assets, the demand for skilled and experienced executive assistants is expected to remain strong, driving further growth in compensation for these roles.