Do you know how many jobs are available in investment managers? Hence, you need to know that almost 992,100 investment fund managers are currently in the United States.
The investment fund manager job market might increase by 8.0% between 2016 and 2026. Therefore, many jobs are available for investment managers.
Is investment managers a good career path? The field of investment management is a highly sought-after career. But you should keep in mind that the number of investment manager jobs is limited. Therefore, a financial management degree might not guarantee that you will get a job as an investment manager.
It might grow by 17% over the next decade, with 64,200 new positions by 2030. It is challenging to enter the field. Therefore, you must have a college education and years of experience to succeed.
How To Become An Investment Manager?
They give advice and direction to their customers to fulfill their goals and get returns on financial assets. Whether you want to be an investment manager, you will need enough education, experience, and dedication.
What Education Do You Need To Become An Investment Manager?
It is essential to have a bachelor’s degree in financial management or economics. If you want to obtain the investment management job title, you need this education—
- Becoming a CFA Charterholder
- Becoming a CAIA Charterholder
- Earning the FRM designation
- Earning a master’s degree in business management or administration.
What Skills Do You Need To Become An Investment Manager?
You must deal with stress and thrive in a competitive work environment to be this manager. Besides, you might be passionate about the field and your customer requirements. You need to be goal-oriented to get access. In addition, you need to enjoy mathematics, are proficient in data analysis, and prefer solving problems.
How Employable Are Investment Fund Managers?
These fund managers are rated with a C employability rating by Careerexplorer. It indicates that the career must offer new employment opportunities for the foreseeable future. How many jobs are available to investment managers?
The United States is expected to require 83,800 investment fund managers for the last ten years. Hence, it depends on 79,600 extra investment fund managers and the retirement of 4,200 current investment fund managers.
What’s The Supply Of Investment Fund Managers?
California, the District of Columbia, and New Jersey is the main location of the investment fund management industry.
Check This: Top Precision Manufacturing Solution Companies
Investment Fund Manager Job Market By State
|Employed Investment Fund
|District of Columbia
Should You Become An Investment Manager?
These are the seven reasons asking why it is a good career option.
1. Investment Managers Have Lots of Career Options
Several jobs are available to investment managers. According to BLS, the U.S Bureau of Labor Statistics, more than 650,00 financial manager jobs were available in the United States in 2020. Examples include jobs in banks, brokerage firms, credit unions, and insurance companies.
If willing, you may become a financial analyst, fund manager, portfolio manager, risk manager, hedge fund manager, alternative investment analyst, stockbroker, risk analyst, rating analyst, private equity associate, etc. In addition, you may want to manage the investments of someone or businesses.
While having the correct knowledge and education, you will get the chance to join famous financial institutions such as Vanguard, JP Morgan Chase, Goldman Sachs, Citigroup, HSBC, and Merrill Lynch. Whether realistic or determined, you can follow different methods to work. Enough experience allows you to be a great finance employer.
2. Investment Management Is Fascinating
They ask people and associations what they should do with their money. It is a type of detective work becoming different every time you do this as you meet investments with your customers.
Suppose you are helping a fashion designer. Then, it became a company that made an app to help disaster victims find relief and shelter. Hence, one thing you should know is that global events, extreme weather, and unpredictable things like human emotions might affect investments. Therefore, you should always allow new and different investment strategies to appear.
3. Investment Management Can Be a Lucrative Career
Investment management professionals can provide the few highest starting salaries in finance. If you are talented, you will get a great deal of increasing your wage. According to Glassdoor in the U.S., the annual salaries for investment managers vary from $51,000 to under $172,000.
These managers are put in both financial manager categories and financial analysts by the U.S. Bureau of Labor Statistics. As per its report, the median salary was between $83,664 and $134,180 per year for both positions in 2020.
4. The Investment Manager Job Outlook Is Bright
While many financial products and people want to gather knowledge of geographic regions, most industry analysts might expect strong employment growth in investment management midway into the upcoming decade. How many jobs are available in investment managers? BLS said that people might experience employment growth increasing by 17 percent from 2020 to 2030.
Compared to the average of other occupations, its outlook is much brighter, mainly when you are tech-savvy. Although the competition is challenging, you can easily land a good entry-level investment position if you have the proper education.
5. Investment managers don’t Have to spend years in extra Schooling
Are you earning already? Or do you have a bachelor of science (BS) in business administration or a BS in finance? If you have any of these degrees, these are more than enough to begin your investment management career.
In addition, earning a voluntary certification or charter, including the Chartered Financial Analyst® (CFA) charter, the Chartered Alternative Investment AnalystSM (CAIA) charter, or the Financial Risk Manager (FRM) designation, is an ideal way to augment the degree except going to graduate school.
6. Investment Managers Can Be Creative and Innovative
You might think a person who wants to invest in businesses as a living is a numbers-cruncher. Although numbers are changed, the primary focus is investment portfolios, not equations and calculations. The portfolios must be as diverse as possible. It consists of many different businesses, projects, and sectors.
Besides, you should tailor the portfolios to your customers’ needs, passions, and beliefs. In simple terms, investment management can offer excellent rewarding chances to develop and innovate. Besides, it gives solutions creating a big difference in human lives or how business and capital move forward.
7. Investment Management Is Satisfying
Solving issues is one of the critical deals that investment managers make. Satisfaction is there with every resolution and discovery. Think of how it looks like something you recommended made money for one of your customers.
While they get the knowledge you have, they are glad to hear that despite having multiple research and detective work, you have chosen a winner. Now think how it looks if you do it continuously. But you might not get it correct each time. However, you can still gather experience and expertise.
Read More: Is Metal Fabrications A Good Career Path?
Several reasons exist for pursuing an internship with investment managers. In these cases, gaining real-world experience is the most vital. It might assist you in developing the skills required for your selected career path. While a big financial farm like Goldman Sachs hires some interns only every year, it is still essential to consider if you choose the way to your career.
An internship is an excellent chance to gain valuable experience. Therefore, you must be conscious that you must not be alone in your quest to create the next big move in the financial world.
A few investment managers give internships across several departments, including global markets, corporate finance, and mergers and acquisitions.
A few other divisions can provide internships in quantitative finance, risk management, operations, and compliance. Besides, multiple firms provide spring internships as feeder programs for second-year internships. You need to tailor your resume to confirm that you will have the best chance of getting a good internship. In addition, sending a cover letter to the specific company to which you apply is essential.
Although most managers come with a strict application deadline, applying to the advertised internships is possible. In most cases, internships last around six months. It needs the completion of an application. If you want an internship, you should apply now. You might get more than one opening.
Do you like to do quant work? If it is, you need to look into projects enabling you to automate methods and run back-test ideas. You can get such internships at smaller firms, also. Usually, these don’t provide return offers to interns.
But a few small firms will provide unpaid internships or some thousand dollars per month as living expenses. Try to complete more internships.
If you graduate from a program providing degrees in finance or accounting, you can’t confirm if you get a job as an investment manager. But this passion is complex. Do you know how many jobs are available for investment managers?
In addition, the field of financial management might experience 17% growth over the next decade. It will become 64,200 in the area for retirements and job transfers. As this field is challenging, you must have the proper knowledge and good experience.
Employment can’t be guaranteed by degree programs in finance, accounting, economics, or statistics. But these can increase the chances. This industry needs top analytical skills to perform quantitative and qualitative research.
Students in such fields must take computer classes to use the risk management and financial analysis software. Speech and English classes are crucial to producing research and communication skills. You may select to take relevant exams after graduation.
If you are willing to enter here, you must need at least a bachelor’s degree in finance, accounting, or statistics. A few employers can hire people graduating with a different degree or powerful math skills.
That’s why we recommend taking business, economics, and computer science classes during your undergraduate studies. In addition, a few employers can write samples and other relevant documents.
However, we are fortunate that colleges provide finance, accounting, and economics degree programs. Graduate degrees are provided by multiple universities in this field, along with undergraduate degrees.
Frequently Asked Questions
1. What is a career in investment management?
A professional in investment management can manage financial portfolios. In addition, they can help to achieve vital financial goals for customers like individuals or institutional investors ( corporations, insurance companies, pension funds, or charities).
2. Are finance jobs in demand?
As finance is a quickly growing sector in India, people look into the profession to protect a future concerning banking jobs.
3. What qualifications do I need to be an investment manager?
You must possess at least a bachelor’s degree in finance, economics, business, or accounting to become an investment manager. In addition, multiple employees find applicants with master’s degrees and a master’s in business administration (MBA).
Recommended: How Insurance Companies Pay Out Claims