Money Management Career Information
Explore a career in finance as a money manager.
What Do Money Managers Do?
Excellent money managers are essential to success for any business. Money managers can work in small or large businesses, the legal field, insurance, the government or as private consultants. They advise on investment activities, develop and oversee the preparation of financial reports, direct investment activities and implement cash management strategies. Money managers also develop strategies for implementing the long-term goals of their organization.
A career in money management can be quite demanding but also quite rewarding. Incomes are high, but hours can be long; many financial managers work within tight deadlines and under immense pressure. Whether you work for a large corporation overseeing long-term business planning, a small business managing investments, or as a consultant, your expertise and time will be in demand and you will be expected to rise to the responsibilities of managing important assets. As the world of international trade grows, a money manager must understand and comply with federal, state and international laws and regulations, as well as continue to develop new products and complex financial instruments.
Money Management Degrees
Training for a money manager starts with a bachelor's in finance, business or international finance or a related field.
To advance in your career, an MBA is usually required, as well as experience in your chosen field. Continued training through conferences, graduate studies, special courses and completing examinations in various specialties are essential. Corporations often provide opportunities for employees to continue their education in finance, banking and securities management at local universities in order to keep their staff on top of the latest trends, laws and regulations. Many financial managers complete this type of educational path and then go out on their own to become financial consultants for the companies they previously worked for.
Money Management Career Path
| Entry Level | Mid Level | Senior Level | |
| Types of Roles | Controller, financial planner, finance officer, credit manager | Branch manager, financial manager, securities or fund manager | Chief financial manager, chief financial officer |
| Experience | 0 – 4 years | 4 – 6 years | 6 – 9 years |
| Getting There |
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| Salary* | $50,000 – $66,000 | $61,000 – $125,000 | $100,000 – $150,000+ |
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* Depends on company size, specific job and location
Sources: PayScale.com, 2009; Bureau of Labor Statistics, 2009
