In light of the outstanding economy, low unemployment and the robust job market there has been a substantial increase in demand by candidates to work in a Family Office. At FON Search, we specialize in placing professionals with Family Offices nationwide and internationally, and I felt that it would be helpful to provide information on why they have become so attractive to work for.
Advantages of working for Family Offices:
1) Better work/life balance than most corporate and hedge fund/private equity roles.
2) Highly stable environment-families may want to preserve their wealth and/or create more wealth for the family, however they are typically not big risk takers.
3) Family offices do not want turnover and therefore are extremely selective with their hiring needs. They treat their employees quite well and in many cases like family members.
4) Family offices tend to provide excellent benefits for their employees and in a significant number of cases, they actually pay the entire cost for the coverage (single, family, etc.).
5) Avoid the bureaucracy of corporate environments.
6) You have the opportunity to participate in charitable causes that are so essential to society. Most family offices not only contribute funds to these causes, they also give their employees time off to participate, and they themselves may participate as well.
7) You can avoid having to comply with the SEC and other regulatory bodies and with their deadlines.
8) Many of the family offices are now providing opportunities for co-investing, carried interest and deferred compensation plans that will allow their employees to create wealth for themselves.
9) If the organization that you work for treats you well professionally and financially and with respect, you can be motivated to go to work everyday and be part of the team and enjoy what you do, rather than just doing a “job”.
10) With Family Offices doing more direct investing and impact investing you have the opportunity to use your entire business background and be part of helping society as well.
For additional information on how to attract and hire the best talent in the Family Office space, feel free to contact Michael Rosenblatt: President of FON Search and The Quest Organization at 212-971-0033 or via email at michael.rosenblatt@questorg.com
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