Wealth Management Managing Directors
Wealth management managing directors are top-level executives who play a key role in formulating investment and business strategy for their firms, managing and developing staff, overseeing budgets, and maximizing profits, and managing expenses. Many also oversee the investment portfolios of the firm’s top clients, as well as work with vice presidents, associates, and investor relations specialists to attract new clients. Managing directors are also known as managing partners.
Minimum Education Level
Managing directors in the asset management industry earned median annual salaries of $167,719 in November 2020, according to PayScale.com. It also reports that managing directors earned bonuses that ranged from $10,000 to $103,000, average profit sharing compensation of $45,000, and average commission on sales of $60,500.
Experienced managing directors at large firms can earn $500,000 t...
A day in the life of a managing director can be very busy, involving lots of meetings with the investment team, phone calls and in-person consultations with current and potential investors, and hours at their desks brainstorming new investment, marketing, or staff training ideas. Managing directors are often supported by administrative staff (secretaries, clerks, etc.), and they usually have la...
Overall employment for top executives is expected to grow by 4 percent from 2019 to 2029, according to the U.S. Department of Labor (DOL), as fast as the average. Employment of CEOs, specifically, will decline 10 percent during the same timeframe. "Improving office technology and changing organizational structures have increased these workers’ ability to perform tasks previously done by multipl...