Wealth Management Associates
Wealth management associates manage the investment portfolios of high-net-worth clients and use their entrepreneurial and sales skills to attract new clients. Associates may also be known as private bankers, personal financial advisors, and wealth managers.
Minimum Education Level
Entry-level wealth management associates earned median salaries of $59,399 in November 2020, according to Salary.com. Earnings ranged from $38,000 to $95,000. Experienced associates received median salaries of $120,455. Ten percent earned less than $85,000, and 10 percent earned $164,000 or more.
Many associates receive bonuses, which can vary depending on how the firm structures compens...
Many personal financial advisors work more than 40 hours per week. Associates often work on nights and weekends to meet with current and potential clients in their homes, at financial conferences, and at social events. This career can be stressful because associates—especially those who are new to the job—are under considerable pressure to bring new clients to their firms. Despite the constant ...
Employment for personal financial advisors (a career category that includes wealth management associates) is expected to grow by 4 percent from 2019 to 2029, according to the U.S. Department of Labor, as fast as the average for all careers. Those with certification and advanced degrees will have the best job prospects.
IBISWorld predicts strong growth for the private banking industry bet...