This higher-level degree may also make you a more desirable candidate in general. To gain the necessary experience needed for this kind of position, you can pursue a master's degree. Commodities include resources like metal, energy and agricultural products.Įxperienced money managers usually invest in them when the market is particularly volatile. Some employers prefer money managers to have master's degrees related to finance, especially when the organization's financial health is tied to investments that require high expertise, such as commodities trading. Related: 10 Jobs for Finance Majors (Plus Salary Info and Duties) 2. If you're interested in expanding your expertise in any of these subjects, you may benefit from pursuing a master's degree as well. Money managers often have background knowledge in estate planning, taxes, investments, accounting, financial regulations and risk management. If you're already in college or you're considering taking professional development courses, it can be helpful to enroll in industry-specific classes. To help pinpoint your goals, you can ask yourself the following questions:ĭo I want to work with individuals and help them manage their personal wealth?Īm I interested in working with the government?ĭoes investing on behalf of a corporation, company or business appeal to me? When choosing your program, think about the type of clients you'd like to work with to ensure that you're acquiring the knowledge you need to achieve your career goals. Employers don't always require a specific major, though aspiring money managers often major in finance, economics, accounting, business and law. Money managers typically have a bachelor's degree. The following steps can help you build the knowledge, skills and experience you need to become a highly qualified money manager: 1. Read more: What Does a Financial Manager Do? (Plus Requirements) How to become a money manager Overseeing a client's budget to pinpoint savings opportunities and maximize revenueĮstablishing standards for efficiency, quality and report creation ![]() Reviewing a client's banking activity to monitor cash flowĬreating and analyzing financial datasets and models The day-to-day duties of money managers can include: To accomplish this, they spend a considerate portion of their time analyzing financial data and providing well-researched advice to their clients regarding opportunities to maximize returns. Money managers have one core objective: to grow their clients' financial portfolios. Related: What Can You Do With a Banking and Finance Degree? What does a money manager do? Money managers are also sometimes called: Money managers typically lead a team of financial specialists, and they work together to assemble financial reports, create cash flow updates, direct investments and plan initiatives that drive toward a client's long-term financial targets. ![]() ![]() What is a money manager?Ī money manager is a firm or person who oversees an organization, government or individual's finances. In this article, we discuss what a money manager does, how to become one and their average salary and job outlook.
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