How is it working for a family office? Specifically acquisitions and or asset management
What’s the pay?
How does someone get those jobs?
[{"id": "iwyuuyo", "text": "Pay is good, and you get the job by being a child of the principal lol.", "replies": [], "depth": 1}, {"id": "iwz5bzl", "text": "It\u2019s my dream to have kids of my own some day sourcing Net Lease Arby\u2019s acquisitions for our family portfolio.", "replies": [], "depth": 1}, {"id": "iwz82o5", "text": "Usually very lean, so you\u2019ll probably be doing both acquisitions and asset management. Along with executive reporting and everything else under the sun. Really depends on how much capital the family has and I\u2019m sure each one is different. In my experience, pay is nowhere near as good as at firm that raises capital because you\u2019ll never have chance to be on the promote side of deals, but that\u2019s anecdotal so take it with a grain of salt.", "replies": [{"id": "iwzu26z", "text": "This for sure. Also this could be viewed as a pro or con depending on your personality type and the experience you want. Master of none jack of all or master of one.... It is all about growth and learning. This is a long horizon industry so as long as you maximize your learning and growth and can use those to add more value in the next role you are doing well. Also sending PM.", "replies": [{"id": "iwzymnn", "text": "**Jack of all", "replies": [{"id": "ix00i5l", "text": "Thanks. Haha. Edited", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "ix01noe", "text": "Agreed. I think these are great roles early in a career. You get a ton of exposure and experience that you won\u2019t get at a larger firm with more structure. Key is to not do what I did and stay in the role too long. It\u2019s a 2-3yr gig then move on.", "replies": [], "depth": 2}, {"id": "ix12f4i", "text": "I Worked for a FO and this assessment is spot on. You do a bit of everything, and pay is fair but lower than a shop that raises capital. The bigger FO\u2019s can be very institutional, but most are dabbling in middle market deals. The upside is FOs tend to be very stable so your job isn\u2019t on the line if the market slows down.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ix0rq41", "text": "It\u2019s very fun to get a group of us family office guys together and share stories. The work cultures are ALWAYS a bit weird.  A lot of strange personalities (especially the employees related to the family).  There seems to be a lot of people that work there and make a ton of money and they are either completely incompetent or you\u2019re not sure what they really do all day\u2026and they\u2019re been there 30+ years.\n\nLike someone else said: in some regards, teams can run lean and you\u2019ll be wearing both AM and acquisition hats.  \n\nIf you join the right group, you get exposed to a lot of things early and can make a lot of money.  You need to feel that out of you are interviewing for one.", "replies": [], "depth": 1}, {"id": "ix0u4h0", "text": "I recently came from banking/finance to work for an investment and management firm where the investors are mostly comprised of 4 families and their descendants. It\u2019s a good sized shop with about 60 employees. We have over 100 properties ranging from a small $6m spot to properties in the 9 figures, mostly in one asset class. So my info is based on that bias. \n\nMy company is filled with people who have been there a long time because we are all overpaid. They value stability so paying everyone 5% to 10% more than they are worth is a cost they are willing to eat to keep the place consistent. Things move a little slow and decision making is very centralized. I\u2019m still getting ramped up, but I am starting to have my hand in a lot of different things, which is true of working at just about any smaller company. \n\nOne thing to note is that your growth may be capped. My co owner\u2019s son is about to finish grad school. When he does he is going to get his feet wet somewhere else to learn some of the ropes. After that he will come and take over the business. This means I will never make it to a president/ceo role. At any closely held private firm there is always a possibility that a family member could come take a spot and put a ceiling over your head.", "replies": [{"id": "ix0ufs0", "text": "Where is the son going to grad school?", "replies": [], "depth": 2}, {"id": "ix0x1co", "text": "Do you know if they offer carry or co invest options? Debating if I wanna go pension fund or family office after I\u2019m throughly burnt out", "replies": [{"id": "ix0z5dt", "text": "Both. But only at the executive level, which is a very small group of people. My goal is to stay with the company and hit that level in the next 5-7 years.", "replies": [{"id": "ix0zgco", "text": "Thanks, that\u2019s what I feared", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "izcwbx9", "text": "I work for an UHNW boutique FO - completely lucked out and got hired off an indeed ad.  Pay is above market and bennies are gravy.  Work life balance is awesome, but I wear 100 hats and have little to no help.  Can confirm growth ceiling is low but floor is very stable.", "replies": [], "depth": 1}]