(Note: Salaries can differ significantly based on industry, experience and company policies. The above figures are estimates taken from glassdoor.co.uk and payscale.com)
Asset managers’ salary depends on the complexity of the underlying asset portfolio they manage. Asset managers handle assets as diverse as real estate, IT assets, machinery, transport equipment, financial assets, intellectual property, etc. Given this vast array of support, it is no surprise that salaries for asset managers can be so variable.
While salaries for asset management average at around EUR 40,000 in most cases, they can easily cross EUR 100,000 in certain circumstances. In most instances, you can see a high positive correlation between the value of the underlying assets and the asset manager’s compensation. For example, an asset manager responsible for managing a large wind energy farm would get paid more than an asset manager who must handle a small office building.
Another factor affecting the asset manager’s compensation is the complexity of the underlying asset. For example, complicated financial assets like collateralised obligations or hedging agreements require a deep understanding of financial markets and therefore, asset managers handling those products get paid more.
Something For Everyone
The exciting thing about asset management is that there is something for almost everyone. IT asset managers might obtain employment if they are interested in technology. If someone understands how the real estate business works, they can, of course, go into infrastructure asset management. An engineer interested in robotics and machinery can find a job in a manufacturing company where they can manage those production assets. For individuals with experience in the legal world, digital asset management might be the answer where they can deal with assets like intellectual property and patents.
Choosing a niche within asset management is not just a matter of interest, but it will undoubtedly directly impact career and compensation growth. Professionals who choose a sector experiencing rapid growth and requiring a lot of complex asset management would likely do better than others. Financial services companies and large Fortune 500 companies in manufacturing/ pharma/ insurance/ oil and gas generally offer highly competitive pay packages to asset managers.
Find out more about what being an asset manager is all about. The following articles cover:
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