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Job outlook for wealth management interns in the United States
Wealth management internship job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected wealth management internship job growth rate is 15% from 2018-2028.
About 50,900 new jobs for wealth management interns are projected over the next decade.
Wealth management internship salaries have increased -1% for wealth management interns in the last 5 years.
There are over 19,741 wealth management interns currently employed in the United States.
There are 119,112 active wealth management internship job openings in the US.
The average wealth management internship salary is $87,382.
Are wealth management internship jobs in demand?
Wealth management internship job and salary trends over time
Wealth management internship jobs over time
Wealth management internship job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 19,741 | 0.01% |
| 2020 | 16,365 | 0.00% |
| 2019 | 15,775 | 0.00% |
| 2018 | 15,030 | 0.00% |
| 2017 | 15,080 | 0.00% |
Average wealth management internship salary over time
Wealth management internship salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $87,382 | $42.01 | +1.7% |
| 2024 | $85,934 | $41.31 | --1.2% |
| 2023 | $86,952 | $41.80 | --1.9% |
| 2022 | $88,664 | $42.63 | +0.1% |
| 2021 | $88,556 | $42.57 | +1.5% |
Wealth management internship jobs by state
Most common states for wealth management interns
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | Delaware | 961,939 | 421 | 44% |
| 2 | Vermont | 623,657 | 270 | 43% |
| 3 | North Dakota | 755,393 | 295 | 39% |
| 4 | Kansas | 2,913,123 | 979 | 34% |
| 5 | Oklahoma | 3,930,864 | 1,254 | 32% |
| 6 | South Dakota | 869,666 | 263 | 30% |
| 7 | Alaska | 739,795 | 223 | 30% |
| 8 | Rhode Island | 1,059,639 | 299 | 28% |
| 9 | Utah | 3,101,833 | 795 | 26% |
| 10 | Wyoming | 579,315 | 153 | 26% |
| 11 | New Hampshire | 1,342,795 | 339 | 25% |
| 12 | Arkansas | 3,004,279 | 723 | 24% |
| 13 | Maine | 1,335,907 | 321 | 24% |
| 14 | Massachusetts | 6,859,819 | 1,517 | 22% |
| 15 | Nebraska | 1,920,076 | 418 | 22% |
| 16 | Virginia | 8,470,020 | 1,807 | 21% |
| 17 | Iowa | 3,145,711 | 650 | 21% |
| 18 | Connecticut | 3,588,184 | 733 | 20% |
| 19 | Minnesota | 5,576,606 | 1,055 | 19% |
| 20 | Oregon | 4,142,776 | 777 | 19% |
Most common cities for wealth management interns
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Des Moines | 4 | 2% | $64,494 |
| 2 | Columbus | 1 | 2% | $71,208 |
| 3 | Atlanta | 4 | 1% | $78,882 |
| 4 | Washington | 4 | 1% | $97,495 |
| 5 | Cedar Rapids | 1 | 1% | $67,187 |
| 6 | Boston | 3 | 0% | $136,119 |
| 7 | Chicago | 2 | 0% | $85,314 |
| 8 | New York | 2 | 0% | $126,786 |
| 9 | Phoenix | 2 | 0% | $71,270 |
| 10 | Baton Rouge | 1 | 0% | $78,888 |
| 11 | Birmingham | 1 | 0% | $70,127 |
| 12 | Denver | 1 | 0% | $64,671 |
Wealth Management Internship job outlook: Expert opinions
Our panel of wealth management internship experts
Fairleigh Dickinson University
College of Saint Mary
Oakland University
University of Minnesota Duluth
Texas Tech University
University of South Alabama
Hartwick College
Virginia Wesleyan University
California State University - Sacramento
University of Minnesota, Morris
What certifications/licenses/courses can have the biggest impact for Wealth Management Interns?
Patrick Cozza: I teach in the wealth management program at Fairleigh Dickinson (FDU), and in that field achieving the CFP (certified financial planner) designation would be critical to a successful career in wealth management. Fortunately, FDU's wealth management program is fully compliant with the requirements of the CFP Board which is a great first step. Upon graduating with a concentration in wealth management, a student can immediately sit for the CFP exam, then supplement that with practical training in wealth management. Other wealth management designations around the Series licenses which permit the sale of wealth management products would be helpful. Outside of that, any field which provides a level of technical rather than general expertise would be beneficial.
Jing Chang Ph.D.
ProfessorCollege of Saint Mary
Department of Mathematics
What are the biggest trends we'll see in the Wealth Management Internship job market given the pandemic?
Jing Chang Ph.D.: I think working remotely or working from home is the biggest trend in the job market in the next few years. Experts say that the whole world will probably face a post-pandemic transition in the following years. Wearing a mask, keeping social distance, and avoiding big gathering are probably going to be part of the new normal. As a result, employers would encourage their employees to work from home to decrease the risk of COVID-19 spread. For example, higher education will promote remote learning, especially general education courses which may have large class sizes. Upper-level major courses with smaller class sizes will be less affected. K-12 schools will probably have a hybrid mode. Minor health issues will be more likely to be done via Telehealth.
Mark Navin Ph.D.
Professor and ChairOakland University
Philosophy Department
What are the biggest trends we'll see in the Wealth Management Internship job market given the pandemic?
Mark Navin Ph.D.: It's possible that 2021 graduates could face a very good job market, or at least one that is rapidly improving: Real GDP growth has recently been strong, and economists think there's a good chance for substantial growth in 2021 (perhaps over 7%). But we're likely to need continued stimulus (such as President Biden's covid relief package) and we also need to find a way to avoid mass evictions and foreclosures when people's rent and mortgage bills finally come due. If we can solve those problems, then I suspect that there will be substantial demand for new college graduates.
Ekaterina Elgayeva Ph.D.
Assistant Professor of Organizational BehaviorUniversity of Minnesota Duluth
Labovitz School of Business and Economics
What are the biggest trends we'll see in the Wealth Management Internship job market given the pandemic?
Ekaterina Elgayeva Ph.D.: The expansion of remote work is bringing about a number of key trends within the job market that will continue to gain momentum in the years ahead. To start, companies will likely adopt social recognition programs as incentives to performance metrics, wherein employee performance will be increasingly assessed through measures of employee interactions, rather than the standalone, traditional annual reporting metrics that have been in place to date.
Second, company cultures are being rapidly transformed through increasing implementation of wellness programs, which underscore the significance of employee well-being and the significance of mental health in relation to engagement and performance.
Alongside these trends, organizations will place significantly more emphasis on relational coordination, which fundamentally roots to the innate necessity to maintain social connections in times of isolation and dispersion, and so companies are beginning to prioritize the development of communities that generate social capital - the resources vital to employee learning, performance, and well-being - to cultivate a sense of belongingness within the context of remote, distributed work.
Will there be an enduring impact of the coronavirus pandemic on Wealth Management Interns?
Dr. Eric Rasmussen Ph.D.: I think this is the question we're all asking ourselves right now. The impact of the pandemic on the job market is out of anyone's control. What we can control is our ability to help students acquire a skillset that is versatile enough to give them flexibility in an ever-changing job market. A degree in public relations is well-situated to help give graduates the best opportunity for finding meaningful employment.
What soft skills should all Wealth Management Interns possess?
Dr. Kelly Collins Woodford: The soft skills graduates need really has not changed because of the pandemic, but the importance of those soft skills has changed.
For example, as we saw last spring, the ability to be flexible and adaptable to change is critical. To be adaptable, graduates will need strong critical thinking/problem solving skills.
Importantly, graduates must be able to work independently. We often see students who want to be told exactly what to do and how to do it. Graduates in the current market need to be able to use their critical thinking skills to figure out how to accomplish goals and have the ability to work independently to reach the goals.
Also important are interpersonal skills needed to be a successful member of a team, whether the team is remote or in person.
With flexible hours and remote work, time management has also increased in importance.
Will there be an enduring impact of the coronavirus pandemic on Wealth Management Interns?
Laurence Malone Ph.D.: Yes, but the pandemic will present distinctive opportunities from its challenges. Think of how in-person networking was compromised during the pandemic. Students often leave cultivating long-term personal relationships with career counselors, classmates, alumni, mentors, and faculty until their senior year. There are opportunities to deepen those relationships, now and in the future, virtually. Ask about connecting with alumni in the Economics department. Attend the first in-person alumni event that that you can, even if you secure a great position after graduation. Use your new understandings and capacities for living and learning online to reach out and deepen those relationships. Organize an online event where faculty, classmates, and alumni discuss trends and future developments in the economy. Why not create an event with the theme, "Will there be an enduring impact of the coronavirus pandemic on economics graduates?"
What experience really stands out on Wealth Management Internship resumes?
Jessica Harrington: Relevant work experience is always best. New graduates should keep in mind that an internship is a form of relevant work experience and should be placed toward the top of their resume. I also encourage new graduates to place their education at or near the beginning of their resumes. A college degree has helped prepare a new graduate for their field and should be highlighted.
What Wealth Management Internship skills would you recommend for someone trying to advance their career?
David M. Lang: The job market will reward people that require as little supervision and training as possible. Our pandemic times and likely, our post-pandemic times will involve a fair amount of remote working. As such, employers will want to make sure that the individuals they hire are self-motivated, quick learners who can hit the ground running without a lot of hand-holding. If taking a year off, I would make sure that job applicants devote some time to learning about the industry standards in which they plan to work. Does the industry use a particular software? Start learning about how to use that. Does the occupation use specific data or require coding? Devote some time to learning the basics of that as well. As always, don't forget the soft skills of communication (orally and written) and interpersonal relationships.
What are the biggest trends we'll see in the Wealth Management Internship job market given the pandemic?
Bart Finzel Ph.D.: The labor market will continue to be weak until the third quarter of 2021. The weakness will be particularly acute in personal services and, increasingly, public sector employment. Since many 2020 graduates remain underemployed, the graduating classes this spring will be competing with them and find their job search challenging. It is also likely that entry-level salaries will be markedly lower than in prior years.
Longer-term, the pandemic is accelerating the use of automation in some manufacturing, warehouses, and retail. This should allow wages to rise in these sectors even though employment may not. The 40% or so of jobs that have been done remotely during the pandemic will likely continue to have greater flexibility in hours. However, I don't share the view that most of these jobs will remain fully remote. The challenges of onboarding new people, establishing group norms, and the need for new employees to have a peer group will, I think, lead many of these jobs to be "on-site" for a significant fraction of time, perhaps two of every five workdays.
For the households that have maintained employment and income throughout the pandemic, savings rates have risen. As vaccination rates increase later in 2021, these saved dollars will be spent and lead to a burst of economic activity and more significant employment opportunities across the board. It would be an excellent year for May graduates to consider an unpaid internship or other skills-building training in the summer. I believe job prospects will be much more significant in September.
What type of skills will young Wealth Management Interns need?
Ann M. Ebberts: What I see as critical skills for newcomers to the government workforce in financial management roles, including budget development and analysis – will continue to be critically important.
Given the current state of the economy and the cost of the response to the COVID-19 pandemic, recent graduates entering the workforce will need to leverage communication, collaboration, analytical, and problem-solving skills. The ability to leverage new technologies to analyze, develop, and communicate with others in government and with the public will be important.
Budget analysts (and all financial roles) need to be productive, collaborative and have strong communication skills. They will also need to be able to process a variety of information from different sources and develop an understanding of the priorities of the organization and interrelationships with other government entities.
Desirable skills and attributes for graduates entering the workforce:
· Good listening skills
· Math and writing skills -- preparing annual/special reports
· Comfortable learning new and applying existing technologies
· Need to be detail-oriented
· Need to understand the role of the government entity they serve and the role of the budget in government
· Data analysis abilities
· Developing and/or analyzing planned vs. actual reports and providing options for moving forward
· Leveraging textual and visualization methods to enable communication of budget priorities -- proposal evaluation (pros and cons), potential impacts of decisions
· Presenting analysis in a concise and convincing manner
· Evaluating programs to determine whether they are providing desired results