Pursuing a career in asset management can
be an excellent way to earn a lucrative income. After all, for as long as
people have smart money, there will always be someone looking for a professional to
help them make the most out of their wealth and investments. Asset managers can
work with a variety of different clients, from major corporations, to
individuals, to help them explore new investment opportunities and unlock new
chances for growth.
As people become more financially focused,
the demand for asset managers is set to increase drastically over the years
ahead. However, if you want to increase your income potential and unlock new
opportunities in your asset management career, you need to be willing to invest
in taking the next steps. Here are a few of the ways you can build on your
career in asset management.
If you’re already working in the asset
management landscape, there’s a good chance you already have an education
related to the fundamentals of finance, risk management, accounting, and
wealth. However, as the landscape for investing continues to evolve, it’s
always worth looking for ways to take your education to the next level. The
more academic experience you have, the more you’ll be able to apply for
cutting-edge jobs and roles.
Depending on your available income, you may
need to look for different ways to access the funding you need to take the next
step in your education. Younger adults or those without the best credit history
may want to consider looking into private student loans
with cosigner. A consigner can help to improve your chances of getting a
better deal on your loan, by reducing the amount of risk the potential loan
provider is going to be taking on.
Although a good education will improve your
chances of earning a high-paying role, it’s important not to underestimate the
importance of experience too. Most clients and professional companies will be
looking for support from an asset manager who already has experience working
with similar customers in their industry or area. Ask yourself what kind of
clients you most want to work with, and start
pursuing opportunities that will allow you to gain experience in this
One option could be to start offering your
services as a freelance consultant while you’re working in your standard role.
This could help you to interact with more clients and expand your resume. Plus,
it’s a great chance to get an insight into different types of asset management.
If you like the idea of exploring different
client opportunities and environments with freelance
work, it might be worth looking into an opportunity to build your own
business. These days, it’s a lot easier for an asset manager to build a
portfolio and professional brand online with the help of website creation tools
and social media. Taking this route could help you to earn more money, as
you’ll be able to set your own rates, and even eventually hire other
professionals to work alongside you. However, keep in mind you will be
responsible for attracting new customers to your company on a consistent basis,
so you’ll need to know a little bit about marketing and promotion. You’ll also
need to manage your own taxes.
Finally, who you know can make a huge difference
to your career as an asset manager. In some cases, it’s even more important
than what you know. Whether you’re working for yourself or building your career
with a traditional company, it’s a good idea to invest as much time and effort
as possible into strengthening
your connections with other professionals.
Get active on social media channels like
LinkedIn, and make sure you’re following other industry leaders on various
channels. Take part in local events so you can meet with people face-to-face,
and always have a business card handy if you run into someone. Focus on
strengthening your connections in the financial space, and you’ll start to earn
a reputation as a more credible professional. You may even find the right
connection allows you to open the door to a new job opportunity somewhere down
the line, so you can earn more.