Maryland's family offices are concentrated in Bethesda, Potomac and Baltimore, with wealth from real estate, government contracting, hospitality and finance.
The family office landscape in Maryland
Family offices in Maryland are concentrated in and around:
- Baltimore
- Bethesda
Where family office candidates come from in Maryland
Candidates come from Baltimore's asset management firms, Big 4 offices in the DC area, and law and consulting firms.
Across the state, accountants and auditors earn an average of $98,210, 4% above the US average of $94,750 and #11 of 51. Financial managers average $170,350, 9% below the US average of $186,910 (BLS Occupational Employment and Wage Statistics, May 2025). Family offices usually pay above these averages to win experienced people.
Family office salaries in Maryland
| Role | Base salary in MD | Typical bonus |
|---|---|---|
| Family Office Controller | $170K–$235K | 15–25% |
| Family Office Accountant | $95K–$140K | 5–15% |
| Family Office Tax Manager | $145K–$205K | 10–20% |
| Family Office CFO | $295K–$470K | 25–50% |
| Family Office Chief of Staff | $145K–$245K | 15–30% |
| Family Office Operations Manager | $125K–$195K | 10–20% |
| Family Office Executive Assistant | $90K–$145K | 10–20% |
| Family Office Payroll Manager | $110K–$145K | 5–15% |
Our estimates for a single family office managing $250M–$1B, adjusted for Maryland using BLS pay levels for accountants and financial managers (2% below the national midpoint). Try the salary calculator for other office sizes.
Taxes, trusts and the law in Maryland
Maryland is the only US state with both an estate tax and an inheritance tax, which makes trust and residency planning especially important here.
How Maryland compares with nearby states
| State | Accountant avg. (BLS) | Financial manager avg. (BLS) | Family office controller (estimate) |
|---|---|---|---|
| Maryland | $98,210 | $170,350 | $170K–$235K |
| Delaware | $97,930 | $203,890 | $180K–$250K |
| District of Columbia | $122,680 | $210,420 | $200K–$270K |
| Florida | $88,210 | $169,990 | $165K–$230K |
| Georgia | $93,640 | $182,920 | $175K–$240K |
| North Carolina | $93,810 | $196,240 | $175K–$240K |
| South Carolina | $85,390 | $160,800 | $165K–$225K |
| Virginia | $100,660 | $199,320 | $180K–$250K |
| West Virginia | $78,020 | $127,910 | $150K–$205K |
What this means for hiring in Maryland
Accountant pay in Maryland sits mid-pack nationally (#11 of 51). A family office that offers a clearly defined role, a meaningful bonus and some flexibility can stand out against corporate employers here. State taxes in Maryland are moderate, so pay conversations usually center on base salary and bonus rather than tax. With a smaller local finance community, the strongest candidates for Maryland often live elsewhere. Plan on a recruiter-led search, and budget for relocation on senior roles.
Family office questions for Maryland
Does Maryland have an estate tax?
Yes. Maryland is the only state with both an estate tax and an inheritance tax, so families here plan carefully around trusts and residency.
How much do family office jobs pay in Maryland?
We estimate a family office controller in Maryland earns about $170K–$235K base and an accountant about $95K–$140K. For context, accountants and auditors in Maryland earn an average of $98,210 across all employers, 4% above the US average (BLS, May 2025).
Where are family offices in Maryland?
Mostly around Baltimore, Bethesda.
Does Maryland have a state income tax on wages?
Yes. Maryland is the only US state with both an estate tax and an inheritance tax, which makes trust and residency planning especially important here.