Portfolio Manager: Education Requirements and Career Info

A portfolio manager is a high-level financial analyst who makes executive decisions for a company or client. These managers typically work for portfolio management firms or investment banks; however, they can find employment at a variety of firms. A bachelor's degree or higher and several years' experience as a financial analyst are common prerequisites to become a portfolio manager.

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Education Requirements for Portfolio Managers

A bachelor's degree is the standard level of education for entry-level financial analyst positions; however, additional formal education may be required to advance to a portfolio manager position. According to the U.S. Bureau of Labor Statistics (BLS), employers look for candidates with a bachelor's degree in a finance-related field like accounting, economics, finance or business administration (www.bls.gov). Courses in advanced math and statistics are also recommended.

A master's degree in business administration or finance may also be required to become a portfolio manager. These programs typically take 2-3 years to complete and include advanced courses on asset management, hedge funds, options pricing and bond valuation.

Career Information for Portfolio Managers

According to the BLS, entry-level portfolio management positions are typically available at portfolio management firms and investment banks. These novice positions usually take the form of analyst training programs and temporary employment on a project team. Successful candidates can earn a permanent position and more responsibilities. The would-be portfolio manager can also begin their career as a financial analyst, working to be promoted to portfolio manager.

The duties of a portfolio manager include supervising a team of financial analysts and creating a financial portfolio for a company or client. Portfolio managers help decide the mix of industries, products and regions in which they invest. Portfolio managers are also expected to lead investor meetings and be able to alter portfolios quickly, reacting to market changes.

Salary and Job Outlook Information

According to the BLS, financial analysts, including portfolio managers, made an average salary of $91,620 per year as of 2013. The BLS projects that employment for this group of workers will increase by 16% over the 2012-2022 decade.

Certification Information

Some portfolio managers choose to earn the Chartered Financial Analyst (CFA) designation offered by the CFA Institute (www.cfainstitute.org). To be eligible for the CFA credential, candidates must have a combination of work experience and formal education. The qualified candidate must also pass three exams that cover a wide variety of topics including quantitative analysis, professional ethics, risk management and portfolio management basics.

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