Morgan Stanley
  • Wealth Management
  • Sep 20, 2023

Compensation Insights for Single Family Offices

Competitive compensation is key to attracting and retaining the best talent for your single family office. Discover the latest trends on relevant pay, benefits and bonus structures in Morgan Stanley’s 2023 benchmarking report.

Ongoing market uncertainty and the need for increasingly complex tax strategies make it more important than ever for single family offices to have the best possible staff and management team in place. Recruiting and retaining that team requires competitive compensation and, in a “post-pandemic” world, a more flexible workplace. 

“Employers across nearly any industry today can see that the talent and compensation landscape is rapidly evolving. Our research amplifies the importance of having data that breaks down trends through a lens specific to family offices,” said Valerie Wong Fountain, Head of Family Office Resources Platform & Partner Management at Morgan Stanley.

Morgan Stanley’s 2023 Single Family Office Compensation report, created in collaboration with Botoff consulting, provides valuable insights for families and family office professionals as they consider pay levels, benefits and bonus structures for optimal talent acquisition and retention. The report features benchmark compensation data for roles ranging from C-suite leaders to investment analysts to executive assistants.

Among the key findings:

  • Executive salary increases continue to outpace the broader U.S. market. More than half (52%) of executives and nearly half (46%) of non-executive staff received higher pay increases in 2023 than in 2022.
  • Use of incentive compensation also remained strong, with 79% of executives and 82% of staff reporting bonuses comparable to or higher than prior-year bonuses.
  • The use of Long-Term Incentive (LTI) compensation plans continues to grow, with 59% of family offices reporting using LTI plans.
  • More than three-quarters of family offices report a hybrid workplace, with most staff reporting to the office three days a week.
  • Women comprise nearly one-third of executive roles in family offices, outpacing U.S. corporate data for women in C-suite and leadership roles.

In addition, readers will learn the most common single family office investment approaches, governance structures and professional services in use today. They’ll also find actionable intelligence on the use of long-term incentive plans and how growing interest in private equity is changing the composition of portfolios.

Request the Morgan Stanley Single Family Office Compensation Report now to gain insight into your compensation approach.

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Request the Morgan Stanley Single Family Office Compensation Report now to gain insight into your compensation approach.

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