Money manager vs broker

The differences between money managers and brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a broker has an average salary of $124,861, which is higher than the $73,231 average annual salary of a money manager.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for a broker are brokerage, financial services, and insurance products.

Money manager vs broker overview

	Money Manager	Broker
Yearly salary	$73,231	$124,861
Hourly rate	$35.21	$60.03
Growth rate	17%	5%
Number of jobs	58,982	2,770
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 66%
Average age	46	49
Years of experience	8	-

Money manager vs broker salary

Money managers and brokers have different pay scales, as shown below.

	Money Manager	Broker
Average salary	$73,231	$124,861
Salary range	Between $47,000 And $112,000	Between $68,000 And $227,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Child Guidance & Family Solutions
Best paying industry	-	Insurance

Differences between money manager and broker education

There are a few differences between a money manager and a broker in terms of educational background:

	Money Manager	Broker
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Southern California

Money manager vs broker demographics

Here are the differences between money managers' and brokers' demographics:

	Money Manager	Broker
Average age	46	49
Gender ratio	Male, 43.5% Female, 56.5%	Male, 63.8% Female, 36.2%
Race ratio	Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 64.0% American Indian and Alaska Native, 0.3%	Black or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.2% Asian, 6.9% White, 70.1% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	13%

Differences between money manager and broker duties and responsibilities

Money manager example responsibilities.

Decrease manual processing time by successfully managing the implementation of a new software system for the BSA unit.
Assist clients with addressing BSA, AML & OFAC requirements resulting from regulatory actions against the clients.
Process fundamental and technical analysis for strategic trading of equities.
Assist in implementing effective procedures for the ACH department.
Perform daily vault balancing, ATM servicing and transaction approvals.
Review portfolio positioning and investment results with clients, consultants, and prospects.

Broker example responsibilities.

Manage, lease and sell office condominiums on site.
Retail trader, fix income securities; manage client account activity; properly allocate client funds to appropriate investment options
Manage indexes, options, foreign equities, and short-selling positions that are compatible with clients' long-term investment goals.
Expand and maintain professional relationships with trading accounts including banks, hedge funds and portfolio managers.
Specialize in finding undervalue and/or overbought commodities by using fundamental and technical analysis that exist throughout the markets.
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Money manager vs broker skills

Common money manager skills

BSA, 18%
Anti-Money Laundering, 15%
Bank Secrecy Act, 11%
OFAC, 9%
Transaction Monitoring, 8%
Risk Management, 7%

Common broker skills

Brokerage, 17%
Financial Services, 9%
Insurance Products, 7%
Risk Management, 6%
Client Relationships, 6%
Real Estate Transactions, 5%