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The differences between investment advisors and mutual fund managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become an investment advisor, becoming a mutual fund manager takes usually requires 8-10 years. Additionally, an investment advisor has an average salary of $105,377, which is higher than the $68,537 average annual salary of a mutual fund manager.
The top three skills for an investment advisor include exceptional client, risk management and client relationships. The most important skills for a mutual fund manager are financial reports, portfolio, and payroll.
| Investment Advisor | Mutual Fund Manager | |
| Yearly salary | $105,377 | $68,537 |
| Hourly rate | $50.66 | $32.95 |
| Growth rate | 15% | 17% |
| Number of jobs | 63,438 | 4,926 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| Average age | 45 | 47 |
| Years of experience | 4 | 10 |
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.
A mutual fund manager implements a company's investing strategy and manages its portfolio trading activities. The responsibilities of this position include picking which assets will be purchased, managing analysts, conducting research on investment opportunities, and overseeing mutual funds or pensions. Any person interested in this position needs significant management experience, knowledge of financial markets, and a finance-related professional certification.
Investment advisors and mutual fund managers have different pay scales, as shown below.
| Investment Advisor | Mutual Fund Manager | |
| Average salary | $105,377 | $68,537 |
| Salary range | Between $60,000 And $184,000 | Between $34,000 And $137,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | Alaska |
| Best paying company | McKinsey & Company Inc | University of Maryland Medical System |
| Best paying industry | Telecommunication | Finance |
There are a few differences between an investment advisor and a mutual fund manager in terms of educational background:
| Investment Advisor | Mutual Fund Manager | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between investment advisors' and mutual fund managers' demographics:
| Investment Advisor | Mutual Fund Manager | |
| Average age | 45 | 47 |
| Gender ratio | Male, 72.3% Female, 27.7% | Male, 55.2% Female, 44.8% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.7% Hispanic or Latino, 12.6% Asian, 8.9% White, 65.7% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 5% | 10% |