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This question is about wealth management advisor.
What is the career path for a wealth manager?
The career path for a wealth manager includes jobs as a junior private banker, wealth manager, and senior wealth manager. Before beginning work, most people on this path complete a bachelor's degree or master's degree in business, finance, or economics. For many senior positions, a master's degree is required.
Most wealth managers begin their careers post-graduation as junior private bankers. During this time, you can gain experience and work to earn additional credentials and certifications that can help in moving up. After a few years, junior private bankers drop the junior and gain more autonomy in their work.
After a few additional years, which should include networking and working to earn certifications, a private banker can move into working as a wealth manager. A wealth manager focuses on larger projects and often has private bankers working under them. Most wealth managers hold at least a master's degree or an MBA.
Wealth managers who have been in their positions for a while and want to seek even more responsibility may choose to become senior wealth managers. This position is often the ending point for a wealth manager, as it allows for a lot of responsibility over one's own work and has great benefits, including a median salary of $170,000 annually.
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