How Do I Become an Asset Manager?

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Asset managers are the safe-keepers of a company’s assets. They are responsible for monitoring and maintaining assets while working closely with financial planners and managers. Students wishing to pursue a career as an asset manager should be ready to undertake a lifelong commitment to keeping a close eye on someone else money.

Educational Requirements

Asset management careers are built on the foundation of a higher education degree, experience and certifications. A Bachelor’s degree in Business, Finance, Accounting or Economics is the first step on the path to an asset manager position. Obtaining a Master’s degree in these areas is also relevant and some employers will not interview potential employees without one.

In addition to a degree, potential asset managers must also be willing to gain experience by working in a bank, investment firm, or similar environment. Skills gained working with assets in a situation such as those are necessary to effectively monitor and manage a client’s assets.

Management training programs are another good way to gain a better understanding of asset protection. Successfully completing this kind of program and working in the management field is a good way to show potential employers that the candidate possesses the necessary skills to become a quality asset manager.

Certifications & Credentials

Employers prefer to hire asset managers with professional certifications and credentials. Certifications like the CFAI (Chartered Financial Analyst Institute) show employers how committed and dedicated a potential employee may be to becoming the best asset manager possible. The professional credentials gained by passing the CFAI exam will go a long way toward impressing potential employers.

Salary

According to the website salary.com, the median annual salary for a Top Asset Management Executive is $233,752. This whopping salary comes with a huge set of responsibilities. However, there aren’t many careers that offer a comparable salary, so pursuit of a career in this field can come with great financial reward.

Personal Skills Needed

To become a successful asset manager, candidates must have a fierce dedication and commitment to succeed. A strong attention to detail and willingness to work long, hard hours while solving complex financial issues is a must. This is a ferociously competitive field and candidates must be willing to fight their way to the top. Mediocrity will not be enough to rise to the top of this field and those candidates unwilling to give one hundred and ten percent need not apply.

However, for those willing to put in the time, work, and commitment necessary, becoming an asset manager can be one of the most rewarding careers imaginable. The financial rewards alone make this an appealing career choice for individuals seeking a career in the finance world, not to mention the added perks of power and respect that follow closely behind every successful asset manager.

Asset managers are the backbone of the financial industry and with the current technological advances, there will always be a growing need for qualified candidates. Anyone considering a career in asset management has an opportunity to become a leader and innovator in the financial world.