Asset Manager Salary
Job Description for Asset Manager
Asset managers are responsible for the management, procurement, valuation, and disposition of a company's property, data, and documents. These assets may include anything from property to computers to cell phones. Asset managers keep records and create reports related to those assets, and they may work alone or as part of an asset management team.Read More...
Asset managers also review budgets related to owned property. They may also facilitate repairs and retirement of property. This may involve taking bids and making decisions for the company on the best course of action. These functions require the asset managers to be in contact with companies outside of the business, including vendors, suppliers, and contractors. Asset managers must represent their company in a responsible, business-like manner at all times.
Asset managers work closely with management to ensure the company adheres to budgets and schedules. They may need to travel to building sites or suppliers as needed; outside of travel, they often work in an office environment during regular business hours.
Most asset managers are required to have, at minimum, a bachelor’s degree in business, accounting, or finance. A master’s degree is often preferred. In addition, most employers require several years of experience in the field. They are expected to be proficient in typical office software, especially spreadsheet programs. They are required to be analytical, with outstanding written and verbal communication skills, as well as strictly maintain confidentiality. Asset managers may operate under deadlines at times, so the ability to work proficiently at a fast pace under stressful conditions is also necessary.
Asset Manager Tasks
- Produce reports and statements detailing the status of current and delinquent loans and determine loan workout plans.
- Monitor the status of collateral and payments for current loans.
- Manage a loan portfolio and assist with processing and monitoring complex loans.
- Collect and attempt to recover maximum value from delinquent loans.
- Organize paperwork and processes required to buy, sell, or modify assets.
Asset Manager Job Listings
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Popular Skills for Asset Manager
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Financial Analysis, Negotiation, Contract Negotiation, and Data Analysis are correlated to pay that is above average, with boosts between 13 percent and 16 percent. At the other end of the pay range are skills like Financial Reporting, Property Management, and Windows Operating System General Use. Most people skilled in Financial Analysis are similarly competent in Real Estate and Microsoft Office. Most people experienced in Microsoft Excel also know Microsoft Office and Real Estate.
Pay by Experience Level for Asset Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Asset Managers, more experience generally translates to higher pay. Relatively untried employees who have less than five years' experience make $61K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $76K. Asset Managers see a median salary of $84K after reaching one to two decades on the job. Old hands who claim more than two decades on the job enjoy average earnings of $95K.
Pay Difference by Location
For Asset Managers, San Francisco provides a pay rate that is 64 percent greater than the national average. Asset Managers can also look forward to large paychecks in cities like Houston (+52 percent), Seattle (+42 percent), New York (+39 percent), and Atlanta (+26 percent). Asset Managers in Tampa take home the lowest salaries, earning a whopping 36 percent less than the national average. Employers also pay below the national average in Richmond (35 percent lower) and Miami (19 percent lower).