Rhode Island's private wealth is concentrated in Newport, Providence and the coastal towns, with long-established New England families and summer residents.
The family office landscape in Rhode Island
Family offices in Rhode Island are concentrated in and around:
- Providence
- Newport
Where family office candidates come from in Rhode Island
Providence's financial services firms and the nearby Boston market supply family office staff.
Across the state, accountants and auditors earn an average of $99,880, 5% above the US average of $94,750 and #10 of 51. Financial managers average $181,400, 3% 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 Rhode Island
| Role | Base salary in RI | Typical bonus |
|---|---|---|
| Family Office Controller | $175K–$240K | 15–25% |
| Family Office Accountant | $95K–$145K | 5–15% |
| Family Office Tax Manager | $150K–$210K | 10–20% |
| Family Office CFO | $305K–$485K | 25–50% |
| Family Office Chief of Staff | $150K–$250K | 15–30% |
| Family Office Operations Manager | $130K–$200K | 10–20% |
| Family Office Executive Assistant | $90K–$150K | 10–20% |
| Family Office Payroll Manager | $110K–$150K | 5–15% |
Our estimates for a single family office managing $250M–$1B, adjusted for Rhode Island using BLS pay levels for accountants and financial managers (1% above the national midpoint). Try the salary calculator for other office sizes.
Taxes, trusts and the law in Rhode Island
Rhode Island taxes wages and has its own estate tax.
How Rhode Island compares with nearby states
| State | Accountant avg. (BLS) | Financial manager avg. (BLS) | Family office controller (estimate) |
|---|---|---|---|
| Rhode Island | $99,880 | $181,400 | $175K–$240K |
| Connecticut | $101,810 | $201,260 | $185K–$250K |
| Maine | $84,880 | $151,450 | $160K–$220K |
| Massachusetts | $107,170 | $218,230 | $190K–$260K |
| New Hampshire | $92,570 | $160,920 | $165K–$230K |
| Vermont | $85,280 | $146,120 | $160K–$215K |
What this means for hiring in Rhode Island
Rhode Island is one of the ten highest-paying states for accountants (#10), so family offices compete head-to-head with Big 4 firms and large employers. Expect to pay at or above market and to move quickly when a strong candidate appears. State taxes in Rhode Island 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 Rhode Island often live elsewhere. Plan on a recruiter-led search, and budget for relocation on senior roles.
Family office questions for Rhode Island
Are Newport family offices local?
Some are, but many Newport families run their office from New York or Boston and hire locally for property and household staff.
How much do family office jobs pay in Rhode Island?
We estimate a family office controller in Rhode Island earns about $175K–$240K base and an accountant about $95K–$145K. For context, accountants and auditors in Rhode Island earn an average of $99,880 across all employers, 5% above the US average (BLS, May 2025).
Where are family offices in Rhode Island?
Mostly around Providence, Newport.
Does Rhode Island have a state income tax on wages?
Yes. Rhode Island taxes wages and has its own estate tax.