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Wealth Management Vice Presidents


Overview

Introduction

Wealth management vice presidents are highly skilled upper-level managers who oversee the investment portfolios of clients, work to attract new clients, manage associates and analysts, and play a major role in formulating strategy for their firms. They are also known as private bankers and wealth managers.

Quick Facts


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Median Salary

$145,947

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Employment Prospects

Good

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Minimum Education Level

Bachelor's Degree
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Experience

Ten years investment experience and a proven record of bringing i
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Skills

Business Management
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Personality Traits

Enterprising
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Earnings

Senior vice presidents who were employed in the asset management industry earned median annual salaries of $145,947 in November 2020, according to PayScale.com. Salaries ranged from $101,000 to $248,000. Payscale.com also reports that senior vice presidents earned bonuses that ranged from $20,000 to $55,000, and average profit sharing compensation of $15,000. 

After years of service, the...

Work Environment

Vice presidents often work long hours. In fact, most top executives work more than 40 hours a week, according to the U.S. Department of Labor. This job can be stressful because there is a constant need to demonstrate results (e.g., strong returns for investors, a steady pipeline of new investors), as well as make wise decisions about a firm’s products, investment strategies, levels of risk, and...

Outlook

Employment for personal financial advisors (including wealth managers) and top executives is expected to grow by 4 percent from 2019 to 2029, according to the U.S. Department of Labor. Demand is increasing as a result of the growing numbers of Americans who are classified as being extremely wealthy.

To a degree, technology has tempered growth for both professions in recent years. For exa...