We first wrote about the growing demand for butlers in 2007. We wrote a follow-up article on this topic in 2012 after we learned high end nannies in New York and London could make more than $200,000 per year in total compensation.
But the butler boom continues to grow. According to a recent Wall Street Journal article:
Demand for the well-staffed home is on the rise, according to agencies and house managers alike.
Clients are calling for live-in couples, live-out housekeepers, flight attendants for private jets, stewards for the yachts and chefs for the summer house.
Salaries for these jobs aren't bad. According to the WSJ:
A good housekeeper earns $60,000 to $90,000 a year. A lady's maid can make $75,000 a year. A butler may start at $80,000 a year and can earn as much as $200,000.
The demand for butlers and other servants is part of a broader trend towards the increased demand of personal services in general. As we said last year, this is being driven by 4 broad trends:
1. The Growing Number of Affluent Consumers: Despite the recession, the number of U.S. millionaires (those with a net worth more than $1 million excluding their primary residence) grew for the 4th year in a row in 2012 to 9 million.
2. A Lack of Time: Unlike prior generations, most affluent consumers today work - and work long hours. A lack of time, coupled with high earnings, means outsourcing personal tasks makes sense not just for the rich, but also by the time challenged middle class.
3. Life's Growing Complexity: Many tasks have become so complex or specialized that outside help by professionals is simply required.
4. Fear of Falling Behind: Many affluent parents are very concerned about their children falling behind. Because of this, coaching kids across a wide range of activities (sports, academics, arts, music) is a booming industry.
The long-term outlook for high-end personal services is strong. The number of affluent consumers will very likely continue to grow and no one expects work to get easier or life less complex anytime soon.
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