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Job outlook for money managers in the United States
Are money manager jobs in demand?
Money manager job and salary trends over time
Money manager jobs over time
Money manager job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 516 | 0.00% |
| 2020 | 494 | 0.00% |
| 2019 | 496 | 0.00% |
| 2018 | 460 | 0.00% |
| 2017 | 431 | 0.00% |
Average money manager salary over time
Money manager salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $73,231 | $35.21 | +3.3% |
| 2024 | $70,890 | $34.08 | +1.5% |
| 2023 | $69,853 | $33.58 | +2.3% |
| 2022 | $68,265 | $32.82 | +2.7% |
| 2021 | $66,447 | $31.95 | +3.2% |
Money manager jobs by state
Most common states for money managers
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 280 | 40% |
| 2 | Washington | 7,405,743 | 939 | 13% |
| 3 | Massachusetts | 6,859,819 | 921 | 13% |
| 4 | Delaware | 961,939 | 112 | 12% |
| 5 | Illinois | 12,802,023 | 1,430 | 11% |
| 6 | Maryland | 6,052,177 | 638 | 11% |
| 7 | California | 39,536,653 | 3,800 | 10% |
| 8 | New York | 19,849,399 | 1,918 | 10% |
| 9 | Georgia | 10,429,379 | 996 | 10% |
| 10 | Virginia | 8,470,020 | 886 | 10% |
| 11 | Colorado | 5,607,154 | 566 | 10% |
| 12 | Minnesota | 5,576,606 | 533 | 10% |
| 13 | Connecticut | 3,588,184 | 352 | 10% |
| 14 | Pennsylvania | 12,805,537 | 1,121 | 9% |
| 15 | New Jersey | 9,005,644 | 840 | 9% |
| 16 | Arizona | 7,016,270 | 601 | 9% |
| 17 | Oregon | 4,142,776 | 383 | 9% |
| 18 | Utah | 3,101,833 | 288 | 9% |
| 19 | Rhode Island | 1,059,639 | 97 | 9% |
| 20 | Alaska | 739,795 | 64 | 9% |
Money Manager job outlook: Expert opinions
Our panel of money manager experts
DePaul University
University of Wisconsin
Red Rocks Community College
Will there be an enduring impact of the coronavirus pandemic on Money Managers?
Delvin Grant: Yes. I strongly believe coronavirus will have a lasting impact on new graduates. A increasing paradigm shift is taking place as we speak, as some IT-related jobs can be done remotely. I expect the shift to continue until a steady state condition is achieved, when companies feel they have the right mix of remote and face-to-face employment. Some companies may resist the trend, valuing face-to-face over remote working. Face-to-face satisfies a human need to socialize and, in some cultures, much business is done by face-to-face. There is evidence of a paradigm shift as many IT employees work remotely, due to the pandemic. Some companies have realized the shift is here to stay and others take a wait and see attitude. It is hard not to recognize the shift as there are cost saving from office rent, office space, heating, cooling, computing cost, travel costs, etc. The impact will vary by profession. IT and other professions are a natural fit for remote working while others are not. For example, a chemist working in a lab environment cannot work from home as his lab is the only place to mix and experiment with chemicals and chemistry.
What skills stand out on Money Manager resumes?
Dr. William Miller: While a student can get an accounting degree with one hundred twenty credits, virtually all employers want their new hires to graduate with the requisite one hundred fifty credits to make them eligible to sit for the CPA exam (whether they intend to sit for it or not). Ninety-nine percent of our students graduate with one hundred fifty credits, most often with a double major. Historically that second major has been finance, however, that has changed. The gold standard of double majors is now accounting and information systems. It is not just me saying that, but the employers as well.
The entire world is data driven, every college of business needs to add course work that teaches students how to analyze and interpret data. Not just accounting, but every college of business degree. A resume highlighting either a second major in information systems or completing course work in data helps to set students above the fray. We have added a data analytics course to our accounting program as well as having incorporated integrated data analytics into several other courses, as well.
Highlighting expertise in the use of Microsoft Excel on a resume (perhaps gained through both course work and internship experience) also will stand out.
The above examples are all required, pandemic or not, but with the pandemic, essential skills, like the ability to work independently, communicate effectively, solve unstructured problems, and think critically, have taken on much more importance. Luckily, these are all attributes that we help our students develop throughout our program.
While I am a full time professor, I do a fair amount of consulting and just completed a two and a half year stint as the Chief Financial Officer of a struggling business. The last two years of that work were done entirely remotely. The technologies we have available today to stay connected, share data, communicate, and collaborate all exist and are phenomenal. Microsoft 365 including Teams (I prefer this over Zoom, Skype, etc.) has been a gamechanger for both industry and academia. I can't imagine how any of us would have gotten through the last eighteen months without these products. Our students are well versed in all these products and have been experiencing their use in most of their classes in some form or another in the last year. So, they will start their careers already experienced in how to use them.
Janet Tarase
Lead Accounting Faculty / Accounting Department ChairRed Rocks Community College
Accounting Department
What are the biggest trends we'll see in the Money Manager job market given the pandemic?
Janet Tarase: Even though over 7 million people are currently unemployed, employers still need individuals to maintain their operations. Human Resource departments are recruiting individuals through social media platforms. My daughter works in HR recruiting and they only use LinkedIn. Companies are using video or phone interviews to select candidates. Which means that potential candidates have to communicate effectively and make a good first impression quickly.
Employers will be looking for individuals that have proven communication, organizational and time management skills that are able to work independently since telecommuting will be continuing in the future. Applicants will also need to have technological and critical thinking skills to manage the challenges presented while working from home. Because of the pandemic and so many of us having to work from home, companies may broaden their recruiting geography to find the best candidates out of state or in different time zones. Finally, employees need to be flexible and resilient - you never know what the next job requirement will demand.