Family Office Talent Crunch Intensifies Despite High Pay

Family office talent crunch pressures are intensifying despite generous compensation, with nearly eight in 10 family offices struggling to hire staff, according to a survey by AlTi Tiedemann Global and Campden Wealth cited by Niccolò M. Mottola of Marcus Evans Group.

Polling 146 offices, the study found 79% faced recruitment difficulties and 54% were concerned about retention, rising to 92% among offices managing more than USD1bn.

Average chief investment officer pay was about USD457,000 including bonus, but only 26% cited compensation as the main barrier, compared with 55% who said unclear long-term career paths deter candidates.

Cultural fit was also critical, with 63% citing individual fit as the biggest challenge. Demand is strongest for an expert generalist to coordinate advisers, as large offices lose one employee roughly every nine months, underscoring the family office talent crunch.