Have a track record in hotel management and looking for a new career path? In reading an article about the new breed of estate manager for the world’s elite affluent, it occurred to me this could be a career opportunity for a hotelier who wants a change. The management, leadership, diplomatic skills and versatility of a hotel GM could well fit the bill demanded for this new breed of estate manager. As described in the article in the New York Times, a job ad could read like this:
“Seeking an experienced Estate Manager to oversee the day to day function of multiple homes around the world. The ideal candidate must be comfortable working with a full range of home technology, managing a multi million dollar budget and overseeing a domestic staff of 20 including a curator, filmmaker and a flight attendant.”
The job is said to pay in the mid six figure range and come with what could include everything from a 401K plan to extra “hardship duty” pay and a generous bonus during the holidays.
Then there’s the opportunity of providing the Estate Managers. In the same article they referenced Mahler Private Staffing which started twenty years ago and now has offices in four cities serving 900 families, an increase from 300 seven years ago. And the potential can only increase given the tremendous growth in wealth of the 1%. Last year according to the Credit Suisse Wealth Report more than 45,000 Americans had a net worth of over $50 million, an increase from 38,000 in 2012 (they call these people “ultra high net worth individuals”). Sounds like another opportunity.
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