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The differences between money 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 a money 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 $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 an investment advisor are exceptional client, risk management, and client relationships.
| Money Manager | Investment Advisor | |
| Yearly salary | $73,231 | $105,377 |
| Hourly rate | $35.21 | $50.66 |
| Growth rate | 17% | 15% |
| Number of jobs | 58,982 | 63,438 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Average age | 46 | 45 |
| Years of experience | 8 | 4 |
Money managers and investment advisors have different pay scales, as shown below.
| Money Manager | Investment Advisor | |
| Average salary | $73,231 | $105,377 |
| Salary range | Between $47,000 And $112,000 | Between $60,000 And $184,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | McKinsey & Company Inc |
| Best paying industry | - | Telecommunication |
There are a few differences between a money manager and an investment advisor in terms of educational background:
| Money Manager | Investment Advisor | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between money managers' and investment advisors' demographics:
| Money Manager | Investment Advisor | |
| Average age | 46 | 45 |
| Gender ratio | Male, 43.5% Female, 56.5% | Male, 72.3% Female, 27.7% |
| 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, 5.6% 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% |