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The differences between property managers and asset managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a property manager, becoming an asset manager takes usually requires 6-8 years. Additionally, an asset manager has an average salary of $85,814, which is higher than the $49,958 average annual salary of a property manager.
The top three skills for a property manager include customer service, property management and financial reports. The most important skills for an asset manager are asset management, financial statements, and property management.
| Property Manager | Asset Manager | |
| Yearly salary | $49,958 | $85,814 |
| Hourly rate | $24.02 | $41.26 |
| Growth rate | 3% | 17% |
| Number of jobs | 15,402 | 64,732 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 68% |
| Average age | 48 | 46 |
| Years of experience | 6 | 8 |
Property managers are responsible for overseeing the real estate properties of their clients. They manage property rentals and leasing and ensure that the terms on these rentals are by what the owner is amenable to. Property managers act as the representative of their client during negotiations and deals. They also set rental prices and other finance-related items since they are familiar with how the market looks. Besides dealing with financial matters, they also manage administrative matters such as enforcing rules and policies, crafting reports, managing contractors, and drafting related documents.
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.
Property managers and asset managers have different pay scales, as shown below.
| Property Manager | Asset Manager | |
| Average salary | $49,958 | $85,814 |
| Salary range | Between $34,000 And $72,000 | Between $59,000 And $123,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | Nokia | Deutsche Bank |
| Best paying industry | Professional | Finance |
There are a few differences between a property manager and an asset manager in terms of educational background:
| Property Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Southern California | Stanford University |
Here are the differences between property managers' and asset managers' demographics:
| Property Manager | Asset Manager | |
| Average age | 48 | 46 |
| Gender ratio | Male, 38.1% Female, 61.9% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 8.5% Unknown, 4.1% Hispanic or Latino, 17.6% Asian, 5.3% White, 63.9% American Indian and Alaska Native, 0.6% | 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 | 12% | 11% |