An unfashionable area now the place to be.
The Financial Times reports that working as a wealth manager for the super-rich was once seen as a career cul-de-sac.
But high-flying City fund managers and chief investment officers are increasingly in demand from 'single-family' offices, which handle the money of one person or family.
Wealth managers for a private investment office can earn far more than their counterparts doing jobs in the City of London, recruitment consultants have said.
Initially the City was better paid but now family offices are offering 'attractive' salaries, says Tayyab Mohamed, co-founder of Agreus, a family office advisory and recruitment firm. The bonuses are where the real money is made, he added.
Managers can expect to earn between 25-30% of revenue as a top family wealth manager, compared with 10-15% at an investment bank.
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