(Note: Please note that salaries can differ significantly based on industry, experience and company policies. The above figures are based on estimates taken from glassdoor.co.uk and payscale.com)
The salary for asset managers is most dependent on the complexity of the underlying asset portfolio that they manage. Asset managers handle assets as diverse as real estate, IT assets, machinery, and transport equipment, financial assets, intellectual property and so on. Given this vast array of assets, it is no surprise that salaries for asset managers can be so variable. In fact, every asset that a company possesses must be managed by someone and in most cases, there is a dedicated asset manager to do the job.
While salaries for asset management averages at around EUR 40,000 in most cases, it can easily cross EUR 100,000 in certain cases. In most instances, you can see a high positive correlation between the value of the underlying assets and the compensation of the asset manager handling it. For example, an asset manager who is responsible for managing a large wind energy farm would probably get paid more than an asset manager who just must handle a small office building.
Another factor affecting the compensation of the asset manager 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 seem to get paid more.
Something for everyone
The interesting thing about asset management is that there is something for almost everyone. If someone is interested in technology, then they can find a job as an IT asset manager. If someone has a good understanding of how the real estate business works, they can, of course, go into infrastructure asset management. If someone is an engineer with an interest in robotics and machinery, they 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 have a direct impact on career and compensation growth. Professionals who choose a sector which is experiencing rapid growth and requires 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 etc. 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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