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The differences between portfolio managers and asset managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a portfolio manager and an asset manager. Additionally, a portfolio manager has an average salary of $114,671, which is higher than the $85,814 average annual salary of an asset manager.
The top three skills for a portfolio manager include portfolio management, customer service and risk management. The most important skills for an asset manager are asset management, financial statements, and property management.
| Portfolio Manager | Asset Manager | |
| Yearly salary | $114,671 | $85,814 |
| Hourly rate | $55.13 | $41.26 |
| Growth rate | 17% | 17% |
| Number of jobs | 43,192 | 64,732 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A portfolio manager is responsible for managing the clients' investment portfolios to advise them of the best investment plans to achieve their financial goals and objectives. Portfolio managers determine the most suitable options by evaluating the clients' credit score and risk potential and the client's financial background. A portfolio manager should be highly knowledgeable and updated with the recent financial industry changes to decide on investment plans with maximum returns.
An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.
Portfolio managers and asset managers have different pay scales, as shown below.
| Portfolio Manager | Asset Manager | |
| Average salary | $114,671 | $85,814 |
| Salary range | Between $66,000 And $198,000 | Between $59,000 And $123,000 |
| Highest paying City | Stamford, CT | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Deutsche Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a portfolio manager and an asset manager in terms of educational background:
| Portfolio Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between portfolio managers' and asset managers' demographics:
| Portfolio Manager | Asset Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 66.6% Female, 33.4% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |