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The differences between asset managers and investment advisors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become an asset manager, becoming an investment advisor takes usually requires 2-4 years. Additionally, an investment advisor has an average salary of $105,377, 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 investment advisor are exceptional client, risk management, and client relationships.
| Asset Manager | Investment Advisor | |
| Yearly salary | $85,814 | $105,377 |
| Hourly rate | $41.26 | $50.66 |
| Growth rate | 17% | 15% |
| Number of jobs | 64,732 | 63,438 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 76% |
| Average age | 46 | 45 |
| Years of experience | 8 | 4 |
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 investment advisor is responsible for managing the clients' financial portfolios, advising them of investment options according to their financial goals and objectives, and their ability to handle risks. Investment advisors should have excellent knowledge of the investment policies, providing the clients with the best financial strategies according to their interests. They also determine their expenses, income, and credit scores to identify a comprehensive financial plan. An investment advisor helps the clients with cash management techniques, as well as conducting data analysis on financial market projections.
Asset managers and investment advisors have different pay scales, as shown below.
| Asset Manager | Investment Advisor | |
| Average salary | $85,814 | $105,377 |
| Salary range | Between $59,000 And $123,000 | Between $60,000 And $184,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Deutsche Bank | McKinsey & Company Inc |
| Best paying industry | Finance | Telecommunication |
There are a few differences between an asset manager and an investment advisor in terms of educational background:
| Asset Manager | Investment Advisor | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | Stanford University | University of Minnesota - Twin Cities |
Here are the differences between asset managers' and investment advisors' demographics:
| Asset Manager | Investment Advisor | |
| Average age | 46 | 45 |
| Gender ratio | Male, 64.3% Female, 35.7% | Male, 72.3% Female, 27.7% |
| 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.2% White, 72.3% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 5% |