Asset Manager Salary

Created by Henry Steele

By Henry Steele - April 15, 2018
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The following article discusses the career path of Asset Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Asset Managers.

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Job Duties

Asset managers are responsible for the disposition, valuation, procurement, and management of the company’s documents, data, and properties. These are all important assets and can range from simple things like cellphones to complex things such as apartment complexes. Asset managers create reports based on records that they keep on those assets.

They are also responsible for the budget of their department, as well as property repairs. This means that they may have to make financial decisions on behalf of the company and this includes taking bids. Because of this, they have to build extensive networks with external partners such as contractors, suppliers, and vendors.

Travel is often required as part of the job. Asset managers work with the senior executive team, but equally with grassroots staff and external partners. While their job is often office based, they also spend a lot of time on different sites.

Other duties of asset managers are:

  • To be responsible for the strategic development of increasing returns on assets
  • To write statements and reports on the status of properties, loans, repayments, and so on
  • To determine that payments and collateral are maintained appropriately
  • To manage a portfolio of properties

Where We Work

According to the U.S. Bureau of Labor Statistics, there were 317,300 property, real estate, and community association managers in 2016, a professional group that includes asset managers. The largest employers of these professionals are:

  • Real estate: 45%
  • Self-employed workers: 42%
  • Civic, social, professional, and similar organizations: 3%

How to Become

An asset manager will be expected to have a bachelor’s degree as a minimum, usually in a field such as finance, accounting, or business. More and more organizations now look for those with a master’s degree. They also have to have excellent IT skills and strong communication skills, while always maintaining the strictest levels of confidentiality. They often have to work according to tight deadlines in a stressful, fast paced environment.

Work experience is also very important and most asset managers have worked in the field for several years. Usually, they come from a real estate sales background. That said, others have more technical backgrounds, such as in property maintenance.

Education Requirements

An asset manager is usually required to hold at least a bachelor’s degree. However, those with a graduate degree are certainly in higher demand, because they have an in-depth understanding of contract management and property finances. Popular majors for asset managers include public administration, real estate, finance, accounting, and business administration. See top affordable Online MBA Degrees for 2018.

If they need to buy or sell real estate property, they must be licensed to do so in their state. If they manage public housing that receives federal government subsidies, they must also be certified. In certain states (the District of Columbia, Virginia, Nevada, Illinois, Hawaii, Georgia, Florida, Delaware, and Alaska), they must also be licensed or hold professional credentials. Certifications are offered through the Communication Association Managers International Certification Board, the National Association of Residential Property Manager, the Institute of Real Estate Management, the Community Associations Institute, and BOMI International. All are usually valid for a limited time only and must be renewed periodically.

Asset managers may also have to complete additional training as it relates to their particularly employer. For instance, they must learn how to operate certain mechanical systems, how to conduct risk assessments, or what different accounting principles are. Some of these training sessions also lead to certification. Usually, however, the asset manager must be sponsored by their employer in order to be able to take part in this training.

Traits & Qualities

The most effective asset managers have the following traits to some degree or other:

– Excellent communication skills, both verbal and written
– Strong customer service skills
– Great interpersonal skills
– Excellent listening skills
– Strong organizational skills
– Great problem solving skills

Minimum Education

Bachelor’s but master’s preferred Degree

National Salary

The national average salary estimate for Asset Manager was $76,367. This number is estimated from over 534,236 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $39.77 and monthly of $6,364.

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$14,000

$187,000

Salary Distribution

Salary by State

The following section lists Asset Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Massachusetts had the largest quoted salary of $109,673 while Missouri had the smallest quoted salary of $41,203.

AlabamaKansasNew Jersey
ArkansasLouisianaNevada
ArizonaMassachusettsNew York
CaliforniaMarylandOhio
ColoradoMaineOklahoma
ConnecticutMichiganOregon
DCMinnesotaPennsylvania
FloridaMissouriTexas
GeorgiaNorth CarolinaUtah
IllinoisNebraskaVirginia
IndianaNew HampshireWashington
Alabama – $61,889Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Advanced Technology Recycling.

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$14,000

$148,000

Salary Distribution
Arkansas – $45,668Rank: 31st
The average salary ranks 31st among states in the country. There were also job openings from employers like Arkansas Department Of Human Services.

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$14,000

$101,000

Salary Distribution
Arizona – $55,838Rank: 28th
The average salary ranks 28th among states in the country. There were also job openings from employers like Bank Of America, State of Arizona, Loan Resolution Corporation, and Creative Circle.

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$14,000

$131,000

Salary Distribution
California – $76,511Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like Clean Focus Corporation, The University of California, Housing Authority of the County of Santa Clara, and V Dart, Inc..

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$18,000

$174,000

Salary Distribution
Colorado – $63,967Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like City of Fort Collins, City and County of Denver, TEKsystems, and CoreLogic.

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$17,000

$139,000

Salary Distribution
Connecticut – $78,569Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like MISSION STAFFING, Norwich Public Utilities, Robert Half Finance & Accounting, and Contract Staffing Recruiters.

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$17,000

$186,000

Salary Distribution
DC – $94,901Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Dynamic Software Consulting Inc, Creative Circle, Workforce Opportunity Services (WOS), and Piper Companies.

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$22,000

$217,000

Salary Distribution
Florida – $66,608Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Express Employment- Boca Raton, St. Petersburg College, Robert Half Technology, and Ocwen Financial Corporation.

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$15,000

$155,000

Salary Distribution
Georgia – $65,229Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like City of Atlanta, Metasys Technologies, CorTech, LLC, and IntellecTechs, Inc..

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$14,000

$157,000

Salary Distribution
Illinois – $83,652Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like Michael Page US, V Dart, Inc., CorTech, LLC, and Technology Resource Group Inc.

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$19,000

$192,000

Salary Distribution
Indiana – $60,146Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like State of Indiana.

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$14,000

$137,000

Salary Distribution
Kansas – $65,169Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like CITY OF TOPEKA (KS).

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$23,000

$127,000

Salary Distribution
Louisiana – $47,974Rank: 30th
The average salary ranks 30th among states in the country. There were also job openings from employers like CyberCoders and Mortgage Contracting Services.

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$14,000

$122,000

Salary Distribution
Massachusetts – $109,673Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like Massachusetts Bay Transportation Authority, Commonwealth of Massachusetts, sparinfosys, and MassHousing.

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$28,000

$245,000

Salary Distribution
Maryland – $73,870Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like Maryland National Capital Park and Planning Commission, Housing Authority of Baltimore City, Anne Arundel Community College, and TEKsystems.

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$19,000

$165,000

Salary Distribution
Maine – $56,737Rank: 27th
The average salary ranks 27th among states in the country. There were also job openings from employers like Atlantic Regional FCU.

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$23,000

$105,000

Salary Distribution
Michigan – $69,549Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like Impact Business Group, Lansing Housing Commission, and APEX.

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$17,000

$158,000

Salary Distribution
Minnesota – $66,324Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Creative Circle, and Atterro.

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$20,000

$139,000

Salary Distribution
Missouri – $41,203Rank: 33rd
The average salary ranks 33rd among states in the country. There were also job openings from employers like Hire Talent and The Creative Group.

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$8.45

$40.30

Salary Distribution
North Carolina – $58,211Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like k tek resourcing, U.S. Marine Corps, and IntellecTechs, Inc..

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$14,000

$135,000

Salary Distribution
Nebraska – $42,389Rank: 32nd
The average salary ranks 32nd among states in the country. There were also job openings from employers like Crete Carrier Corporation.

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$14,000

$95,000

Salary Distribution
New Hampshire – $61,612Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like KRG Technologies Inc., and Apollo Professional Solutions, Inc.

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$7.25

$91.15

Salary Distribution
New Jersey – $81,404Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, TEKsystems, Newark Housing Authority, and MCR Agency LLC.

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$19,000

$187,000

Salary Distribution
Nevada – $61,290Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like College of Southern Nevada.

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$25,000

$113,000

Salary Distribution
New York – $105,424Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like Pelham Berkeley Search, Kforce Finance and Accounting, The Forum Group, and The Quest Organization.

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$21,000

$253,000

Salary Distribution
Ohio – $68,208Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like Stark Metropolitan Housing Authority, Columbus State Community College, Portage Metro Housing Authority, and Make Corporation.

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$19,000

$147,000

Salary Distribution
Oklahoma – $75,000Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting.

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$14,000

$183,000

Salary Distribution
Oregon – $96,572Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like Federal Government Jobs and Creative Circle.

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$26,000

$210,000

Salary Distribution
Pennsylvania – $58,737Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like Bayview Loan Servicing, PNC Financial Services Group, Philadelphia Housing Authority, and University of Pittsburgh.

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$14,000

$138,000

Salary Distribution
Texas – $71,474Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Schlumberger, Halliburton, and Weatherford.

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$16,000

$165,000

Salary Distribution
Utah – $54,487Rank: 29th
The average salary ranks 29th among states in the country. There were also job openings from employers like PrincePerelson & Associates, Utah System of Higher Education, and Commercial Asset Preservation, LLC.

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$16,000

$114,000

Salary Distribution
Virginia – $66,450Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like Fairfax County Government, CyberCoders, ATARID, and Richmond, VA.

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$15,000

$155,000

Salary Distribution
Washington – $75,081Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like Kitsap County, Washington State Department of Transportation, and Pierce County Washington.

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$21,000

$161,000

Salary Distribution

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Asset Manager. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
Hamlyn Williams Asset ManagerMassachusetts$200,000
Pelham Berkeley Search Asset ManagerNew York$200,000
Kforce Finance and Accounting Asset ManagerNew York$177,027
The Forum Group Asset ManagerNew York$175,000
The Quest Organization Asset ManagerNew York$175,000
Piper Companies Asset ManagerDC$169,707
JD Consulting Asset ManagerMassachusetts$160,850
SOAR Staffing Asset ManagerNew York$142,674
Genuine Search Group Asset ManagerNew York$140,000
Oldbury Howard Limited Asset ManagerNew York$135,000
Huxley Associates Asset ManagerMassachusetts$133,666
The Michaels Organization Asset ManagerNew Jersey$132,887
Velossent Asset ManagerGeorgia$130,000
Selby Jennings Asset ManagerMassachusetts$129,954
Eclipse Recruiting Asset ManagerNew Jersey$128,503
eBay Inc. Asset ManagerCalifornia$123,743
City & County Of San Francisco Asset ManagerCalifornia$123,253
Compliance Search Asset ManagerNew York$121,120
Department of Energy Asset ManagerColorado$119,910
Twenty Recruitment Group Asset ManagerNew York$118,556

Learn More

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Henry Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.

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