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The differences between senior 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 senior portfolio manager and an asset manager. Additionally, a senior portfolio manager has an average salary of $115,805, which is higher than the $85,814 average annual salary of an asset manager.
The top three skills for a senior portfolio manager include portfolio management, risk management and project management. The most important skills for an asset manager are asset management, financial statements, and property management.
| Senior Portfolio Manager | Asset Manager | |
| Yearly salary | $115,805 | $85,814 |
| Hourly rate | $55.68 | $41.26 |
| Growth rate | 17% | 17% |
| Number of jobs | 45,223 | 64,732 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A senior portfolio manager is responsible for evaluating the financial portfolios of clients to identify the best investment decisions accordingly. Senior portfolio managers conduct data and statistical analysis of the financial market performance to measure the value of financial instruments and funds. They manage the buying and selling of financial securities based on the clients' specifications and requirements and regularly following the market movement to meet the clients' best interests. A senior portfolio manager must have excellent analytical and leadership skills, especially in coordinating with portfolio analysts, to determine the best courses to minimize the clients' financial loss and risks.
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.
Senior portfolio managers and asset managers have different pay scales, as shown below.
| Senior Portfolio Manager | Asset Manager | |
| Average salary | $115,805 | $85,814 |
| Salary range | Between $67,000 And $199,000 | Between $59,000 And $123,000 |
| Highest paying City | Albany, NY | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Legal & General Investment Management America | Deutsche Bank |
| Best paying industry | Technology | Finance |
There are a few differences between a senior portfolio manager and an asset manager in terms of educational background:
| Senior Portfolio Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between senior portfolio managers' and asset managers' demographics:
| Senior Portfolio Manager | Asset Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 64.3% Female, 35.7% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.1% White, 63.4% 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% |