Senior Asset Manager Salary
An average Senior Asset Manager in the United States can expect to take home roughly $87K annually. Geography is the biggest factor affecting pay for this group, followed by career duration. Job satisfaction is high and work is enjoyable for most Senior Asset Managers. Senior Asset Managers survey participants are largely women, dominating at 64 percent. Medical and dental coverage is claimed by most, and more than half earn vision coverage. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Senior Asset Manager
A senior asset manager manages and maintains everything of value for an entity or group; this includes physical assets such as buildings and intangible assets such as intellectual property. Physical assets may be owned, leased, or subleased by the company.Read More...
Asset managers are responsible for determining the feasibility of asset acquisition and presenting supporting documentation to upper management or board members. Industries which employe these managers include financial, IT, real estate, infrastructure, transportation, and health management.
Duties of asset managers include balancing of costs, risks, and opportunities against the desired performance of assets and implementing, negotiating, and monitoring asset management programs. They also prepare reports and performance analyses for loan deficiencies and revenue losses.
Asset managers must be able to communicate well with clients, co-workers, and upper management. Proficient mathematical and verbal skills, as well as organizational and speaking skills, are also necessary. Proficiency with computers and software systems is generally required.
Asset managers commonly have a financial background and must have the ability to be self-regulated and work independently. Applicants should have a minimum of a high school diploma or equivalent, while most have a bachelor's degree in accounting, business, or finance. Advanced graduate degrees are preferred, but not required.
The general working environment of an asset manager is within the offices of his/her company, and co-workers include middle and upper-management, board members, secretaries, managing directors, and property managers. These managers can expect to work traditional weekly business hours.
Senior Asset Manager Tasks
- Recommend strategies for maximizing the value and returns for assets held by a company.
- Organize paperwork and processes required to buy, sell, or modify assets.
- Supervise the development of strategies to increase asset returns
- Write reports on property asset statistics for senior management.
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Pay by Experience Level for Senior Asset Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Asset Managers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have less than five years' experience have a median salary of $84K. Those who have been around for five to 10 years can expect to take home more — $91K on average. After working for 10 to 20 years, Senior Asset Managers make a median salary of $96K. In the end, more experience does seem to mean larger paychecks; seasoned Senior Asset Managers with more than 20 years of experience earn a predictably higher median salary of $119K.
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