Agreus Group and KPMG Private Enterprise collaborate to publish the 2023 Global Family Office Compensation Benchmark Report
Agreus Group and KPMG Private Enterprise collaborate to publish the 2023 Global Family Office Compensation Benchmark Report exploring salary and career analysis including insights on emerging industry trends and their jurisdictional variances.
Highlights include:
- 41% of Family Offices expanded the size of their teams in 2022 and a further 40% plan on hiring in 2023.
- 80% of Family Office professionals receive a performance bonus which can reach over 200% of their basic salary.
- 58% received an uplift in their salary in 2022.
- Almost 10% of Chief Executive Officers in UK-based Family Offices can take home more than £1M in basic salary alone.
- Family Offices typically cost 0.1% – 0.5% of Assets Under Management to run.
- 74% of Family Offices facilitate working from home.
Global Head of Family Office and Private…
KPMG International
London, 6 June 2023: Agreus Group and KPMG Private Enterprise launched the 2023 Global Family Office Compensation Benchmark Report based on responses from more than 650 Family Office professionals worldwide. The report presents an optimistic economic outlook for Family Offices based on data, opinions, and insights collated from over 1,500 Family Offices including qualitative interviews with Family Office Chief Executives from each continent – the one of the largest global Family Office data sets.
The report benchmarks salaries, career history, global Family Office demographics and shares key insights on emerging industry trends. Analysis is provided on succession planning, social mobility, and wealth transfers, as well as exploring continental variances in governance structures, Assets Under Management, the asset classes they favor, and how compensation aligns with both.
This report is underpinned by more than 13 years of primary data and curated using more than 650 responses from Family Office professionals. Our collective work can be considered both a research tool and precedent – a benchmark with which Family Offices can standardise their compensation. Our study confirms an extremely positive economic outlook for family offices despite recent global unrest and economic upheaval: a theme consistently shared by all respondents.
Paul Westall
Agreus Co-Founder
The analysis confirms Family Offices have become accustomed to operating in uncertain times, with contingency strategies to combat market shifts common place.
Family Offices are and will always be incredibly unique entities and they clearly display a framework for organizational success. The analysis on hand offers an inside look at an industry that is bucking global trends, continuing to thrive in what for many has become a slower economic time, with lessons applicable for all businesses.
Tayyab Mohamed
Agreus Co-Founder
The study shares a positive outlook on a growing sector where the war for talent will undoubtedly increase.
The data confirms that irrespective of location, Family Offices are thriving with growth in terms of numbers and size, all of which shows no signs of abating. This means the demand for staff within this sector will continue to make it an attractive and stable place for people to work and carve out their career.
Greg Limb
Global Head of Family Office and Private Client,
KPMG International
Download a copy of the report here.
