Anyone here work in a family office role? What are the hours and salary like?

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Imagine the work life balance of perpetual busy season with the compensation of a discount retailer

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I am at a family office and it's a nightmare. I came in from B4 tax and my stress level is off the charts because I have to do everything.

I'll be working busy season hours through 12/31 but will bounce shortly after. The HNW tax community is too small for me to leave this place in the lurch and the folks here seem petty enough to go out of their way to torpedo me if I leave on really bad terms so I'm stuck at the moment.

This is an FO that is actually half of a split from what was once an even larger family and some elder members had some differences of opinion. The estranged family office seems worse and are still doing business on paper.

Comp was much better than B4 when I started, but the annual raises at my level are a joke, to the level of insulting.

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I worked in a family office for 5 months.

Terrible.

Bosses brother had an attitude problem and took it out on everyone.

Not every story is like this, basically buyers beware.

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💯💯💯

I’ve worked family office, large firms, and startup. Family office by far will pay the least, work will be more hours but less stressful if that makes sense

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I just left RSM’s family office for another senior tax role in pcs at another PA firm. I had gotten a salary bump at RSM but after 6 months of it left. Got another $12k bump at my new firm. I used to work in a multifamily office, which was much better than a PA family office

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Well, it depends. Money depends on how successful the operation is. "WLB" depends on you: how comfortable you are with letting go (ie - someone else can do it they way you want) - how you manage your employees, do you have the right staff, do you have enough staff, are you willing to pay more for the right staff, etc.

I'm in a family firm, going on 35 years now. The money is great, staff issues can make it hard sometimes because in a smaller operation you develop friendships and it can be hard to let underperforming friend-ployees go. The stress levels fluctuate as with any job... the main difference is - is YOUR baby now. If it suffers so do you... if an involved family member is slacking, you WILL have that fight over it. (You could sell tickets to some of our fights)

I wouldn't trade it for anything... but if you're faint of heart or don't like responsibility, don't bother. And if you're married, it better be a rock solid marriage, spouses often don't take familial differences well ("you should make more than them, you're there longer/ work harder than them"... etc).

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And if you're taking about working for one... it depends, there are all VERY different. I'd pay a very nice salary and benefits for the right person... better than what most claim to be making in these posts... sometimes the WLB is better, sometimes it's not, but it really depends on the person's effort, the time of year, and the expectations set at the beginning of the relationship.

Most small PAfirms are not slave drivers like the large firms (example: we pay overtime during tax season, and ask for 50-60 hours late January through April 15) , most pay well and have decent benefits... you just have to be able to deal with the public, which can have its moments.

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