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 best-performing vice presidents can have income (i.e., salary, bonuses, profit sharing, and commissions) that exceeds $3 million.
Wealth management firms offer a variety of fringe benefits, such as medical, dental, and life insurance; paid holidays, vacations, and sick days; personal days; profit-sharing plans; 401(k) plans; retirement and pension plans; educational reimbursement; and licensing reimbursement (to complete licensing examinations from the Financial Industry Regulatory Authority).
- Chief Information Officers
- Financial Quantitative Analysts
- Tax Managers
- Wealth Management Accountants
- Wealth Management Analysts
- Wealth Management Associates
- Wealth Management Compliance Professionals
- Wealth Management Investor Relations Specialists
- Wealth Management Lawyers
- Wealth Management Managing Directors
- Wealth Management Risk Managers