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The differences between actuarial managers and asset managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both an actuarial manager and an asset manager. Additionally, an asset manager has an average salary of $85,814, which is higher than the $75,827 average annual salary of an actuarial manager.
The top three skills for an actuarial manager include medicaid, financial analysis and financial results. The most important skills for an asset manager are asset management, financial statements, and property management.
| Actuarial Manager | Asset Manager | |
| Yearly salary | $75,827 | $85,814 |
| Hourly rate | $36.46 | $41.26 |
| Growth rate | 17% | 17% |
| Number of jobs | 59,285 | 64,732 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Actuarial managers supervise all the actuary employees and the actuary department. They meet the clients and get to know the type of data and statistics they need. Besides reviewing the actuaries' performance and predictions and analysis accuracy, actuarial managers also prepare reports featuring all the information and ensure each data's accuracy before submission. Other duties performed by actuarial managers include meeting with company heads from time to time and updating them on matters relating to the actuarial figures.
An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.
Actuarial managers and asset managers have different pay scales, as shown below.
| Actuarial Manager | Asset Manager | |
| Average salary | $75,827 | $85,814 |
| Salary range | Between $39,000 And $144,000 | Between $59,000 And $123,000 |
| Highest paying City | Bridgeport, CT | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Prudential Financial | Deutsche Bank |
| Best paying industry | Insurance | Finance |
There are a few differences between an actuarial manager and an asset manager in terms of educational background:
| Actuarial Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 68% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | Stanford University |
Here are the differences between actuarial managers' and asset managers' demographics:
| Actuarial Manager | Asset Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 65.2% Female, 34.8% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 5.7% Unknown, 4.0% Hispanic or Latino, 10.2% Asian, 7.9% White, 71.9% American Indian and Alaska Native, 0.3% | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |