Bright Prospects: Portfolio Manager Profession. Have you ever imagined how long our work will have bright prospects? While industry challenges can threaten some types of jobs, they can also create new opportunities. According to Macquarie University (ranked 9th best university in Australia and 5-star winner of QS World University Ranking), the demand for accounting and finance professionals has increased by 44% and will grow by 22% by 2020. Among jobs related to accounting majors and finance, which is worth a glance is the portfolio manager
Portfolio managers are finance professionals who handle investments, including developing and implementing investment strategies, for individuals or institutions (banks, insurance companies, university endowments, pension funds, and so on).
Portfolio Manager Duties
The target of the portfolio manager is to provide returns for clients from the investments they manage. Portfolio managers can be likened to researchers, consultants, ‘architects’ and investment supervisors rolled into one.
The investment manager’s workflow begins with research on the client’s financial condition and market conditions. Then, policies (target returns, risk tolerance, investment time) and investment plans are determined. Client assets are allocated to various instruments, such as stocks, bonds, property and so on. After the investment strategy is implemented, the portfolio manager continues to monitor and measure the performance of the investment instrument.
Average Portfolio Manager Salary
The income earned by the portfolio manager is quite tempting. According to Indeed.com, a portfolio manager averages $77,671 per year in the United States. Senior portfolio managers even earn an average of $ 107,844 per year (September 2018 data).
Steps to Become a Portfolio Manager
A portfolio manager usually has a degree in finance, accounting, business administration, and economics. His career began as a financial analyst working on stocks, bonds or other securities for companies in the securities industry. After that, aspiring portfolio managers will need to gain experience in terms of providing portfolio recommendations to clients or in-depth financial or market analysis. A master of business administration (MBA) degree or other relevant field is not mandatory, but can expedite your career.
The portfolio manager profession must hold a valid Financial Industry Regulatory Authority (FINRA) license, such as the FINRA Series 7 and Series 66 Licenses. Another certification that is generally recognized is the Chartered Financial Analyst (CFA).
Interested in becoming a portfolio manager? If you have a passion in finance or investing and want to earn significant income in the future, a portfolio manager should be your choice.