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The differences between trust officers and portfolio 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 trust officer and a portfolio manager. Additionally, a portfolio manager has an average salary of $114,671, which is higher than the $61,493 average annual salary of a trust officer.
The top three skills for a trust officer include real estate, portfolio and wealth management. The most important skills for a portfolio manager are portfolio management, customer service, and risk management.
| Trust Officer | Portfolio Manager | |
| Yearly salary | $61,493 | $114,671 |
| Hourly rate | $29.56 | $55.13 |
| Growth rate | 17% | 17% |
| Number of jobs | 56,623 | 43,192 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Trust officers are professionals who are responsible for administering trust account portfolios of their clients. These officers are required to develop business relationships with their clients by responding to the request of their clients and facilitating internal service coordination to resolve issues. They must handle activities that are associated with personal or corporate trust while providing consultation on matters related to finance and wealth. Trust officers usually work in the financial industry and report directly to a manager or head of a department.
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.
Trust officers and portfolio managers have different pay scales, as shown below.
| Trust Officer | Portfolio Manager | |
| Average salary | $61,493 | $114,671 |
| Salary range | Between $30,000 And $121,000 | Between $66,000 And $198,000 |
| Highest paying City | New York, NY | Stamford, CT |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Neuberger Berman | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a trust officer and a portfolio manager in terms of educational background:
| Trust Officer | Portfolio Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between trust officers' and portfolio managers' demographics:
| Trust Officer | Portfolio Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 48.1% Female, 51.9% | Male, 66.6% Female, 33.4% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.4% White, 64.4% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 11% | 11% |