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The differences between asset managers and audit 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 asset manager and an audit manager. Additionally, an audit manager has an average salary of $121,419, which is higher than the $85,814 average annual salary of an asset manager.
The top three skills for an asset manager include asset management, financial statements and property management. The most important skills for an audit manager are CPA, internal audit, and audit reports.
| Asset Manager | Audit Manager | |
| Yearly salary | $85,814 | $121,419 |
| Hourly rate | $41.26 | $58.37 |
| Growth rate | 17% | 17% |
| Number of jobs | 64,732 | 70,168 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 75% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
Asset managers and audit managers have different pay scales, as shown below.
| Asset Manager | Audit Manager | |
| Average salary | $85,814 | $121,419 |
| Salary range | Between $59,000 And $123,000 | Between $82,000 And $178,000 |
| Highest paying City | New York, NY | Portland, ME |
| Highest paying state | New York | Maine |
| Best paying company | Deutsche Bank | Meta |
| Best paying industry | Finance | Manufacturing |
There are a few differences between an asset manager and an audit manager in terms of educational background:
| Asset Manager | Audit Manager | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 75% |
| Most common major | Business | Accounting |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between asset managers' and audit managers' demographics:
| Asset Manager | Audit Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.3% Female, 35.7% | Male, 66.0% Female, 34.0% |
| Race ratio | 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% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |