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Become A Portfolio Manager

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Working As A Portfolio Manager

  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Guiding, Directing, and Motivating Subordinates
  • Coaching and Developing Others
  • Establishing and Maintaining Interpersonal Relationships
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Make Decisions

  • $93,000

    Average Salary

What Does A Portfolio Manager Do

Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Duties

Financial managers typically do the following:

  • Prepare financial statements, business activity reports, and forecasts
  • Monitor financial details to ensure that legal requirements are met
  • Supervise employees who do financial reporting and budgeting
  • Review company financial reports and seek ways to reduce costs
  • Analyze market trends to maximize profits and find expansion opportunities
  • Help management make financial decisions

The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

Financial managers also do tasks that are specific to their organization or industry. For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance. Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.

The following are examples of types of financial managers:

Chief financial officers (CFOs) are accountable for the accuracy of a company’s or organization’s financial reporting, especially among publicly traded companies. As head of a company’s entire financial department, they manage the lower level financial managers. They oversee the company’s financial goals, objectives, and budgets.

Controllers direct the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.

Treasurers and finance officers direct their organization’s budgets to meet its financial goals. They oversee the investment of funds and carry out strategies to raise capital (such as issuing stocks or bonds) to support the firm’s expansion. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).

Credit managers oversee their firm’s credit business. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts.

Cash managers monitor and control the flow of cash that comes in and goes out of the company to meet the company’s business and investment needs. For example, they must project cash flow (amounts coming in and going out) to determine whether the company will have a shortage or surplus of cash. 

Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. Among the risks they try to limit are those that stem from currency or commodity price changes.

Insurance managers decide how best to limit a company’s losses by obtaining insurance against risks, such as the need to make disability payments for an employee who gets hurt on the job or the costs imposed by a lawsuit against the company.

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How To Become A Portfolio Manager

Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.

Education

A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software.

Licenses, Certifications, and Registrations

Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.

Work Experience in a Related Occupation

Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. 

In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.

Important Qualities

Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.

Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.

Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.

Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.

Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.

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Portfolio Manager Demographics

Gender

Male

59.3%

Female

30.7%

Unknown

9.9%
Ethnicity

White

59.0%

Hispanic or Latino

14.6%

Black or African American

11.3%

Asian

10.7%

Unknown

4.4%
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Foreign Languages Spoken

Spanish

38.0%

French

12.8%

Chinese

7.8%

Mandarin

7.3%

Portuguese

5.5%

German

5.5%

Russian

3.2%

Italian

3.0%

Japanese

2.7%

Arabic

2.7%

Korean

2.1%

Cantonese

2.1%

Hindi

1.8%

Urdu

1.1%

Vietnamese

0.9%

Dutch

0.7%

Greek

0.7%

Carrier

0.7%

Hebrew

0.7%

Polish

0.7%
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Portfolio Manager Education

Schools

University of Phoenix

13.6%

New York University

9.8%

University of Chicago

8.2%

Columbia University

5.9%

University of Pennsylvania

5.7%

University of Texas at Austin

5.7%

Cornell University

5.3%

George Washington University

4.9%

University of Houston

4.5%

DePaul University

4.0%

Arizona State University

3.6%

Georgia State University

3.5%

Babson College

3.5%

Pennsylvania State University

3.3%

Michigan State University

3.2%

Fordham University

3.2%

Boston University

3.2%

Florida State University

3.0%

University of Notre Dame

2.9%

George Mason University

2.9%
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Majors

Business

31.9%

Finance

27.8%

Accounting

6.4%

Economics

5.7%

Management

4.6%

Marketing

3.4%

Real Estate

2.7%

Computer Science

2.3%

Political Science

2.0%

Project Management

1.8%

Psychology

1.7%

Communication

1.5%

Law

1.4%

Education

1.4%

Electrical Engineering

1.1%

Computer Information Systems

0.9%

Mathematics

0.9%

International Business

0.9%

History

0.9%

Business Economics

0.8%
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Degrees

Bachelors

42.6%

Masters

36.1%

Other

11.4%

Associate

3.5%

Certificate

2.7%

Doctorate

2.5%

License

0.7%

Diploma

0.6%
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Job type you want
Full Time
Part Time
Internship
Temporary
Average Yearly Salary
$93,000
View Detailed Salary Report
$48,000
Min 10%
$93,000
Median 50%
$93,000
Median 50%
$93,000
Median 50%
$93,000
Median 50%
$93,000
Median 50%
$93,000
Median 50%
$93,000
Median 50%
$180,000
Max 90%
Best Paying Company
Harvard University
Highest Paying City
Denver, CO
Highest Paying State
North Dakota
Avg Experience Level
3.2 years
How much does a Portfolio Manager make at top companies?
The national average salary for a Portfolio Manager in the United States is $93,735 per year or $45 per hour. Those in the bottom 10 percent make under $48,000 a year, and the top 10 percent make over $180,000.

Real Portfolio Manager Salaries

Job Title Company Location Start Date Salary
Portfolio Manager Mousse Partners Limited New York, NY Feb 05, 2015 $560,000
Portfolio Manager Soros Fund Management, LLC New York, NY Mar 28, 2016 $500,000
Portfolio Manager Matthews International Capital Management, LLC San Francisco, CA Apr 06, 2015 $350,000
Portfolio Manager Hildene Capital Management LLC Stamford, CT Sep 21, 2016 $300,000
Portfolio Manager Hutchin Hill Capital, LP New York, NY Jun 01, 2016 $300,000
Portfolio Manager Hildene Capital Management LLC Stamford, CT Jan 04, 2016 $300,000
Portfolio Manager Hutchin Hill Capital, LP New York, NY Jan 06, 2016 $300,000
Portfolio Manager Matthews International Capital Management, LLC San Francisco, CA Jan 10, 2016 $275,000
Portfolio Manager and Analyst Harding Loevner LP Bridgewater, NJ Sep 13, 2015 $275,000
Portfolio Manager Arrow Ridge Capital, LLC San Francisco, CA Jan 08, 2016 $250,000
Portfolio Manager Matthews International Capital Management, LLC San Francisco, CA Oct 01, 2015 $250,000
Portfolio Manager TPG Global, LLC San Francisco, CA Jun 20, 2016 $250,000
Portfolio Manager Bluecrest Capital Management (New York) LP New York, NY May 01, 2016 $250,000
Assistant Portfolio Manager Zacks Investment Management, Inc. Chicago, IL Aug 21, 2016 $175,000
Equity Portfolio Manager Zacks Investment Management Chicago, IL Apr 11, 2015 $175,000
Assistant Portfolio Manager Zacks Investment Management, Inc. Chicago, IL Apr 20, 2015 $175,000
Assistant Portfolio Manager Zacks Investment Management, Inc. Chicago, IL Aug 18, 2015 $175,000
Portfolio Manager Scopia Capital Management LP New York, NY Dec 01, 2016 $175,000
Portfolio Manager APG Asset Management Us Inc. New York, NY Feb 16, 2016 $165,000
Assistant Portfolio Manager Euphrates Advisors LLC New York, NY Apr 03, 2015 $164,674
Portfolio Manager/Quantitative Analyst Allianz Asset Management of America LP New York, NY Sep 20, 2016 $163,000
Portfolio Manager Spot Trading L.L.C. Chicago, IL Aug 06, 2015 $134,160
Manager, Portfolio Management-Financial Services Interactive Communications International, Inc. Atlanta, GA Oct 01, 2015 $130,650
Intermediate Portfolio Manager State Street Bank and Trust Company San Francisco, CA Oct 23, 2015 $130,250 -
$140,000
Portfolio Manager NN Investment Partners North America, LLC New York, NY Jan 10, 2016 $130,000
Director, Portfolio Manager Natixis North America LLC New York, NY May 22, 2015 $130,000
Portfolio Manager Invex, Inc. Miami, FL Apr 22, 2016 $130,000
Manager, Portfolio Management Novartis Pharmaceuticals Corporation East Hanover, NJ Jul 11, 2016 $129,347

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Top Skills for A Portfolio Manager

  1. Financial Statements
  2. Portfolio
  3. Asset Allocation
You can check out examples of real life uses of top skills on resumes here:
  • Developed complex equity, derivative and currency trading strategies by analyzing economic market trends, research analyst expectations and financial statements.
  • Maintained constant communication with corporate treasury, investment portfolio managers, and custody banks to monitor and anticipate liquidity needs.
  • Conducted portfolio analysis to assist senior portfolio managers with client relationships, including capital gains and asset allocation analysis.
  • Design bespoke option overlay strategies for asset managers seeking yield enhancement and/or optimized hedges for their specific portfolio and investment strategies.
  • Analyzed and documented portfolio performance and composition to ensure compliance with guidelines and standards of bank corporate risk policy.

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Top 10 Best States for Portfolio Managers

  1. Connecticut
  2. New York
  3. Delaware
  4. Illinois
  5. District of Columbia
  6. California
  7. Colorado
  8. New Jersey
  9. North Carolina
  10. Rhode Island
  • (289 jobs)
  • (1,189 jobs)
  • (58 jobs)
  • (907 jobs)
  • (159 jobs)
  • (2,571 jobs)
  • (332 jobs)
  • (506 jobs)
  • (565 jobs)
  • (67 jobs)

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