Are portfolio managers rich?

No, portfolio managers are not rich. The average portfolio manager makes around $148,000 a year ($71.51 an hour). While this is good money, it's not typically considered rich. The range in how much a portfolio manager makes is between $82,000 to $266,000 a year. Factors such as years of experience, location, and industry impact how much a portfolio manager can make.

Do you need a CFA to be a portfolio manager?

No, you do not need a CFA to be a portfolio manager. However, having a Chartered Financial Analyst (CFA) certificate does help to provide a financial theoretical background that can help you better understand the financial markets.

How long does it take to become a portfolio manager?

It takes between 10 to 15 years to become a portfolio manager. This is the time it takes to earn a bachelor's degree and the time it takes to earn certifications and gain the necessary work experience.

Is becoming a portfolio manager hard?

Yes, becoming a portfolio manager is hard. A portfolio manager typically holds one of the most lucrative and accomplished positions in the financial services industry. As such, it requires high-level qualifications to stay competitive in a fierce market.

What is the career path for a portfolio manager?

The career path for a portfolio manager includes jobs as a junior analyst, senior analyst, and portfolio manager. Many positions related to portfolio management, especially upper management and senior level positions, require education and often even an MBA, but experience is also crucial in success in sales.

What is a portfolio manager and how to become one

Updated June 25, 2024

6 min read

A portfolio manager is an individual who manages a group of investment accounts on behalf of their clients. They are responsible for making investment decisions with the goal of achieving the clients' objectives while minimizing risk. Portfolio managers analyze market trends, economic data, and company financials to make informed investment decisions. Additionally, portfolio managers communicate regularly with their clients to provide updates on their investments and ensure that their investment strategies align with their goals.

How long does it takes to become a portfolio manager?

It typically takes 7-8 years to become a portfolio manager:

Years 1-4: Obtaining a Bachelor's degree in a relevant field, such as finance, economics, or business. During this time, students learn about financial analysis, portfolio management, and investment strategies.
Years 5-6: Accumulating the necessary work experience, typically in roles such as financial analyst or investment advisor. In these roles, aspiring portfolio managers learn about financial markets, risk management, and investment analysis.
Years 7-8: Continuing to gain on-the-job training and experience, which often includes short-term on-site training programs.

ScorePortfolio ManagerUS Average

Salary

8.0

Avg. Salary $114,671

Avg. Salary $59,228

Stability Level

9.5

Growth Rate 17%

Growth Rate 0.3%

Diversity

3.3

Race

American Indian and Alaska Native 0.34%

Asian 10.09%

Black or African American 7.52%

Hispanic or Latino 14.38%

Unknown 4.10%

White 63.57%

Gender

female 33.36%

male 66.64%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress Level

9.5

Stress level is very high

7.1 - high

Complexity Level

9.3

Complexity Level is advanced

7 - challenging

Work Life Balance

4.9

Work Life balance is fair

6.4 - fair

What are the pros and cons of being a Portfolio Manager?

Pros

High earning potential
Opportunity to manage substantial sums of money
Opportunity for career advancement
Constant learning and staying up-to-date with market trends
Access to valuable networking opportunities

Cons

High stress and pressure to perform
Long working hours
High levels of responsibility and accountability
Limited control over market conditions
Increased scrutiny from regulatory bodies

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Key steps to become a portfolio manager

Explore portfolio manager education requirements

The educational requirements for a portfolio manager are typically a bachelor's degree, often in fields such as business, finance, economics, accounting, or management. According to the data, 50.19% of portfolio managers have a bachelor's degree. However, it's also common for portfolio managers to pursue advanced degrees, with 20% of them holding a master's degree. Some common certifications for portfolio managers include Project Management Professional, Certified Property Manager, and Certified Manager of Community Associations. Top schools for portfolio management include the University of Pennsylvania, Northwestern University, and the University of Southern California.

Most common portfolio manager degrees

Bachelor's

70.5 %

Master's

18.5 %

Associate

6.1 %

Start to develop specific portfolio manager skills

A portfolio manager must combine top-down investing discipline with rigorous bottom-up fundamental credit analysis for security selection. They need to conduct physical property inspections and evaluations, manage a project portfolio pipeline, and resource pool, and allocate skills-based resources to project resource requirements. They must also develop investment ideas through fundamental research, management meetings, and financial models.

Skills	Percentages
Portfolio Management	9.58%
Customer Service	9.10%
Risk Management	5.15%
Project Management	5.08%
Financial Statements	5.00%

Complete relevant portfolio manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New portfolio managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a portfolio manager based on U.S. Bureau of Labor Statistics data and data from real portfolio manager resumes.

Research portfolio manager duties and responsibilities

A portfolio manager's main responsibilities include managing project portfolios, conducting due diligence on investments, and analyzing credit information for new loans. They also track construction progress, develop investment ideas through research, and update reporting items for risk monitoring. Additionally, they perform file reviews for compliance with credit and portfolio administration policies.

Manage ongoing existing client needs and assist in credit structuring at loan origination.
Manage over $900M in U.S. Equities and fixed-income; are simultaneously responsible for monitoring over $1.4b in global assets
Manage governance, engage stakeholders and communicate budget impact to senior management.
Conduct post-promotion analysis and manage financial reporting to ensure favorable ROI for clients.

Prepare your portfolio manager resume

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