How much does a Money Manager earn?
The salary of a money manager can vary greatly and is more often than not based on the performance level of the employee and portfolio. Individual Money Managers normally charge a percentage of the value of the account. A typical percentage is one percent for accounts under the million dollar mark. Raising a portfolio's worth can greatly raise a manager's personal salary and consequently falls back on performance and drive.
Working as a money manager has an average starting salary of $60,000. The starting salary is based on experience. This means that the longer a manager stays with an institution and the better they do, the more money they can personally make. A money manager with experience has an average salary of $86,000 annually.
Some financial institutions choose to charge the client a set amount annually and pay each manager a percentage of that fee. Larger firms are better to work for in these cases because the salaries are higher than a firm that may only hold ten to twenty accounts. Successful firms and even individuals can make up to a million dollars annually if they are determined and skilled enough.
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