The demand for knowledgeable and reliable executive assistants in family offices has seen a significant increase in recent years. With private investment groups owned by the ultra-wealthy offering salaries of up to $190,000 a year, the competition for top talent has intensified. As a result, executive assistants are now commanding base salaries exceeding $140,000, a substantial increase compared to the industry average of $81,500 for senior executive assistant roles.

Family offices, which serve as investment organizations for affluent families, often require their executive assistants to handle a wide range of responsibilities beyond typical administrative tasks. This may include coordinating travel arrangements for the entire family, managing multiple personal residences, and overseeing household professionals. The breadth and complexity of these duties reflect the high level of trust and responsibility placed on executive assistants within family offices.

A study conducted by Botoff Consulting revealed that the median base salary for executive assistants in family offices is $100,048. The survey of 436 family offices also highlighted the potential for higher compensation in larger family offices, where executive assistants can earn salaries up to 35% above the industry average. In addition to base salaries, annual bonuses ranging from ten to twenty percent are common in family office compensation packages.

The top 10% of executive assistants in family offices earn a base salary of $188,800 and receive a bonus of 20%, regardless of the size of the organization. Executive assistants in larger family offices, who often participate in long-term incentive programs, may have the opportunity to earn total annual incomes of up to $240,000. This substantial compensation reflects the demanding nature of the role and the premium placed on qualified and experienced candidates.

Recruiters like Trish Botoff and Fira Yagyaev emphasize the importance of experience and qualifications in the hiring process for executive assistants in family offices. Most family offices require a minimum of five years of relevant experience, with some organizations seeking eight to ten years of experience due to the complexity of the role. Candidates with Ivy League or top-tier degrees, as well as prior experience working with high-net-worth clients, are highly sought after in the competitive family office market.

Executive assistants in family offices often accompany executives on personal and professional travels, highlighting the integral role they play in supporting the daily operations of the office. The demanding nature of the job, which may require significant time and travel commitments, contributes to the higher salaries offered in family offices. Recruiters like Dawn Faktor Pincus recognize the challenges and rewards of working with ultra-wealthy individuals, emphasizing the importance of adaptability and professionalism in the role of an executive assistant.

In conclusion, the increasing demand for knowledgeable and reliable executive assistants in family offices has led to higher salaries and greater competition for top talent. With responsibilities that extend beyond traditional administrative tasks, executive assistants in family offices play a crucial role in supporting the operations of ultra-wealthy individuals and their families. By prioritizing experience, qualifications, and professionalism, family offices can secure the high-caliber executive assistants needed to navigate the complex and dynamic world of private wealth management.