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The differences between managers, asset management and risk managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a manager, asset management and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $84,570 average annual salary of a manager, asset management.
The top three skills for a manager, asset management include asset management, process improvement and patient care. The most important skills for a risk manager are oversight, risk assessments, and project management.
| Manager, Asset Management | Risk Manager | |
| Yearly salary | $84,570 | $116,072 |
| Hourly rate | $40.66 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 116,330 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A manager of asset management specializes in performing research and analysis to identify ideal asset investments for clients such as stocks, bonds, real estate, and other commodities. Their responsibilities revolve around liaising with clients to identify their needs and long-term goals, trading and managing investments upon clients' request or approval, assisting and monitoring asset acquisition, conducting risk analyses and assessments, and managing portfolios. Furthermore, as a manager, it is essential to lead and encourage the asset management team to reach goals, all while adhering to the company and clients' vision and mission.
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Managers, asset management and risk managers have different pay scales, as shown below.
| Manager, Asset Management | Risk Manager | |
| Average salary | $84,570 | $116,072 |
| Salary range | Between $49,000 And $145,000 | Between $84,000 And $160,000 |
| Highest paying City | Hartford, CT | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | Willkie Farr & Gallagher | Credit Karma |
| Best paying industry | Finance | Technology |
There are a few differences between a manager, asset management and a risk manager in terms of educational background:
| Manager, Asset Management | Risk Manager | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between managers, asset management' and risk managers' demographics:
| Manager, Asset Management | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 57.2% Female, 42.8% | Male, 59.3% Female, 40.7% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |