Job Description of an Asset Manager – Check here for Asset manager job description oversee and manage a business’s assets. Property, cash, securities such as stocks and bonds, commodities and equities, and other financial items may fall under this category. The goal of an asset manager is to maximize the return on investment for their employer. You would see to it that their projects increased revenue and financial security.
How to become an asset manager
To become an asset manager, there are numerous paths one might take. You can earn the necessary credentials by enrolling in a university programme, graduate training programme, or taking industry-recognized exams. You might be able to apply straight to an employer or receive on-the-job training if you already have suitable skills or expertise.
To choose which path will lead you to becoming an asset manager, you need investigate each option.
University/graduate training scheme
You could earn a bachelor’s degree in accounting, business studies, finance, statistics, economics, management, or building and construction. You will need two to three A levels (or equivalent), including arithmetic, for this.
You could then submit an application for a graduate trainee programme. As a junior or assistant asset manager, you can work for a bank or construction company.
If you currently hold a first degree in the field, earning a postgraduate degree could increase your employment.
Asset management fundamentals are covered in courses provided by the Institute of Asset Management (IAM). No prior credentials are necessary for these.
Along with credentials, the Chartered Institute for Securities & Investment (CISI) also provides training programmes. Both seasoned professionals and recent graduates interested in financial fields can use these.
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Gaining job in the construction business requires work experience. Any prospective employer will be happy to see employment experience on your resume.
- Business management skills
- Patience and the ability to remain calm in stressful situations
- Knowledge of manufacturing production and processes
- Able to use your initiative
- Able to accept criticism and work well under pressure
- Be flexible and open to change
- Analytical thinking skills
- Able to carry out basic tasks on a computer or hand-held device
What does an asset manager do?
By analysing inventory and supplier pricing, you will have the responsibility of assisting in maximising the business’s profitability. Additionally, you might be using this data to create reports and disseminate it to other decision-makers.
An asset manager’s responsibilities include the following tasks:
- Maximising profitability
- Running and analysing inventories of all assets
- Liaising with suppliers to obtain the best price for assets
- Investing money for upcoming projects
- Working with asset management systems and tracking technologies
- Ensuring financial records are up-to-date and accurate
- Monitoring materials, workforce, tools, equipment and supplies
- Reporting on finance and forecasting budgets
- Working in an office and making occasional site visits.
How much could you earn as an asset manager?
The expected salary for an asset manager varies as you become more experienced.
- Newly trained asset managers can earn £19,000 – £21,000
- Trained asset managers with some experience can earn £38,000 – £40,000
- Senior asset managers can earn £40,000 – £50,000*
Hours and salary depend on location, employer and any overtime you may do. Salaries and career options improve with chartered status.
Career path and progression
You might support people or businesses by working for a construction company, a bank, or another financial institution.
Some asset managers focus on managing investments or real estate. With more experience, you might advance into senior financial responsibilities and make more money.
You could work as an accountant or financial consultant in addition to asset management. Similarly, if you have accounting experience, you may transition into asset management.