Determining Family Compensation

July 18, 2012 in Management Issues in Family Business

Over the years I've witnessed a number of family business members work for a very low wage in anticipation of a financial or farmland windfall at some later point in their career. They are promised or they assume they will receive a greaterthanequal share of the farm or estate as compared to their offfarm siblings because they stayed on the farm. However, the windfall they often experience is one of resentment and frustration toward the parents, of conflict between siblings and sometimes the feeling of a wasted career.