A senior portfolio manager is someone who works for finance companies such as banks, mutual fund companies, brokerage firms, or other similar companies. These companies provide services for people who are interested in investing money. Senior portfolio managers oversee the investments of the company's clients. They study the market and identify the best type of investment that will grow the client's funds while also considering the client's risk appetite. They can invest the client's money in stocks, bonds, mutual funds, or any other financial instrument available in the market. They allocate the client's funds in different buckets based on the client's expectations, preferences, and investment longevity. They also consider market and economic trends in their decisions.
To become a senior portfolio manager, one should have at least a bachelor's degree in business administration, economics, finance, statistics, or any related course. They may pursue graduate degrees in the said fields in order to gain more knowledge. Aside from that, they should also have licenses and certifications that will enable them to manage client funds and invest these funds in various financial instruments.
There is more than meets the eye when it comes to being a senior portfolio manager. For example, did you know that they make an average of $71.7 an hour? That's $149,145 a year!
Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.
There are certain skills that many senior portfolio managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, analytical skills and communication skills.
When it comes to the most important skills required to be a senior portfolio manager, we found that a lot of resumes listed 14.3% of senior portfolio managers included portfolio, while 6.8% of resumes included risk management, and 6.5% of resumes included project management. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the senior portfolio manager job title. But what industry to start with? Most senior portfolio managers actually find jobs in the finance and health care industries.
If you're interested in becoming a senior portfolio manager, one of the first things to consider is how much education you need. We've determined that 68.2% of senior portfolio managers have a bachelor's degree. In terms of higher education levels, we found that 25.5% of senior portfolio managers have master's degrees. Even though most senior portfolio managers have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a senior portfolio manager. When we researched the most common majors for a senior portfolio manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on senior portfolio manager resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a senior portfolio manager. In fact, many senior portfolio manager jobs require experience in a role such as portfolio manager. Meanwhile, many senior portfolio managers also have previous career experience in roles such as vice president or senior project manager.