Asset manager vs tax manager

The differences between asset managers and tax 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 a tax manager. Additionally, a tax manager has an average salary of $96,100, 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 a tax manager are CPA, client relationships, and tax planning.

Asset manager vs tax manager overview

	Asset Manager	Tax Manager
Yearly salary	$85,814	$96,100
Hourly rate	$41.26	$46.20
Growth rate	17%	17%
Number of jobs	64,732	79,204
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 68%
Average age	46	46
Years of experience	8	8

What does an asset manager do?

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.

What does a tax manager do?

A Tax Manager is responsible for managing tax reporting and compliance within an organization. They provide innovative tax planning and prepare state and federal tax returns for companies.

Asset manager vs tax manager salary

Asset managers and tax managers have different pay scales, as shown below.

	Asset Manager	Tax Manager
Average salary	$85,814	$96,100
Salary range	Between $59,000 And $123,000	Between $70,000 And $131,000
Highest paying City	New York, NY	San Francisco, CA
Highest paying state	New York	New York
Best paying company	Deutsche Bank	Meta
Best paying industry	Finance	Finance

Differences between asset manager and tax manager education

There are a few differences between an asset manager and a tax manager in terms of educational background:

	Asset Manager	Tax Manager
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 68%
Most common major	Business	Accounting
Most common college	Stanford University	University of Southern California

Asset manager vs tax manager demographics

Here are the differences between asset managers' and tax managers' demographics:

	Asset Manager	Tax Manager
Average age	46	46
Gender ratio	Male, 64.3% Female, 35.7%	Male, 58.5% Female, 41.5%
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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	11%

Differences between asset manager and tax manager duties and responsibilities

Asset manager example responsibilities.

Manage and improve the processes require to support server end of life and normal windows patching processes.
Manage a pipeline of assets/projects through the project life cycle of short sale/deed in lieu of foreclosure through closing.
Manage and facilitate IRB investigations of report non-compliance and/or scientific misconduct.
Recognize for financial acumen, successfully managing invoicing, vendor accounts, reconciliations, and target reports.
Manage commercial and multifamily REO portfolio preparing property operating plans to enhance value and marketability of REO asset
Trade structured product securities for accounts manage by other portfolio managers base on economic conditions and the needs of specific portfolios.

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Tax manager example responsibilities.

Test and learned to analyze accounting processes managing SOX testing including accumulating documentation and reviewing other testers work.
Perform tax provision review to ensure compliance with ASC 740 and ASC 740-10 for public trade companies and private companies.
Pull data and work with Hyperion.
Used Lexis Nexis, RIA, and CCH to research multiple tax projects.
Prepare and review ASC 740 tax balances for the company s fifteen largest foreign subsidiaries.
Calculate, prepare and submit quarterly estimate payments without need for review from third party CPA.

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Asset manager vs tax manager skills

Common asset manager skills

Asset Management, 20%
Financial Statements, 7%
Property Management, 7%
Customer Service, 6%
Oversight, 5%
Loan Portfolio, 5%

Common tax manager skills

CPA, 16%
Client Relationships, 7%
Tax Planning, 6%
Tax Compliance, 5%
Taxation, 4%
Tax Research, 4%

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Updated January 8, 2025

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