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The differences between portfolio managers and finance 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 portfolio manager, becoming a finance advisor takes usually requires 2-4 years. Additionally, a portfolio manager has an average salary of $114,671, which is higher than the $64,993 average annual salary of a finance advisor.
The top three skills for a portfolio manager include portfolio management, customer service and risk management. The most important skills for a finance advisor are team support, wealth management, and securities.
| Portfolio Manager | Finance Advisor | |
| Yearly salary | $114,671 | $64,993 |
| Hourly rate | $55.13 | $31.25 |
| Growth rate | 17% | 15% |
| Number of jobs | 43,192 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Average age | 46 | 45 |
| Years of experience | 8 | 4 |
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.
A Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Portfolio managers and finance advisors have different pay scales, as shown below.
| Portfolio Manager | Finance Advisor | |
| Average salary | $114,671 | $64,993 |
| Salary range | Between $66,000 And $198,000 | Between $34,000 And $121,000 |
| Highest paying City | Stamford, CT | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Enbridge |
| Best paying industry | Finance | Finance |
There are a few differences between a portfolio manager and a finance advisor in terms of educational background:
| Portfolio Manager | Finance Advisor | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between portfolio managers' and finance advisors' demographics:
| Portfolio Manager | Finance Advisor | |
| Average age | 46 | 45 |
| Gender ratio | Male, 66.6% Female, 33.4% | Male, 72.3% Female, 27.7% |
| 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 5% |