2026 Entry Level Roles in Asset Management

by Imed Bouchrika, PhD

Co-Founder and Chief Data Scientist

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No matter what your path in life, you’ll almost certainly be setting money aside. Those savings could ultimately be used to take a dream vacation, buy a car or a house, go back to school, pay for a child’s education, start a business, or provide income during retirement.

You could put your savings in a simple bank account, where it would be protected (in the US by the Federal Deposit Insurance Corporation (FDIC) and possibly earn a bit of interest. Or you could consider riskier investments that offer the potential of a greater return. This is where the asset management industry comes in.

The asset management industry exists to help people around the world just like you to prepare for their financial futures. Asset management firms invest in stocks, bonds, more complex financial instruments, real estate, and even entire companies. They do so using the money that you give them to manage. Your hope is that their investment activity will yield you more than you could earn in that simple bank account, and for their work, you pay them a fee, usually proportionate to the money you’ve invested with them.

You can work directly with an asset manager or with a financial advisor who represents one or more asset management firms. If you’re working, you can also invest through your company’s retirement plan, most often a 401(k) or 403(b), which invest in turn with asset managers.

The asset management industry is fast-paced, dynamic, and global, with thousands of firms around the world. Collectively, it manages a staggering $118 trillion in assets as of the end of 2023. See the table below for more details on the industry’s growth. Relative to many other industries, it pays well, and jobs in the industry are highly sought-after.

To help you decide whether the industry is right for you and what types of entry-level jobs might be available, the balance of this article will cover:

• Types of asset managers
• How asset management firms are organized
• Entry-level opportunities in asset management
• What it’s like to work in an asset management firm
• The ecosystem supporting asset managers
• Other ways to improve your chances of securing an asset management role

Types of asset managers

Asset management firms serve a mix of institutional clients (such as pension funds and endowments – see below for more info on these) and individual investors (like you and me!).  They come in many shapes and sizes, but here’s a breakdown of the primary types of organizations in the industry:

• Traditional asset managers. These firms usually invest in the stocks and bonds of other companies, also known as equities and fixed income. They may also invest in more complex financial instruments. They usually buy and sell these instruments on public exchanges, like the New York Stock Exchange or NASDAQ. The largest of these traditional firms is Blackrock, which manages more than $10 trillion as of early 2024. Other prominent examples include Fidelity, Schwab, and Vanguard.

• Hedge funds. Hedge funds also often invest in these types of instruments, but they typically do so in a more speculative fashion, such as by borrowing money to increase the size of the ‘bets’ they are making in the market. They also operate under a different legal structure and are only permitted to accept money from more sophisticated investors who are able to accommodate the greater investment risks taken on. Some of the larger firms in this part of the industry are Bridgewater, Citadel, and D.E. Shaw.

• Private equity (PE) firms. These firms buy all or part of entire companies. Their investments in these companies are held outside of the public exchanges, hence the term ‘private.’ Like hedge funds, private equity firms operate under a unique legal structure and may only accept money from sophisticated investors. These companies take an active role in advising the companies in which they invest, sometimes including operating them directly. Examples of PE firms include Apollo, Blackstone, and Carlyle. 

• Private capital firms. These firms operate in a similar fashion to PE firms, but they make other types of investments rather than in investing in companies. These investments – which could include loans, real estate, or infrastructure projects, among others – can take a variety of forms and carry a wide range of risks. Examples include Ares and Oaktree Capital Management

• Venture capital (VC) firms. These companies invest in smaller companies, some literally at the ‘start-up’ stage and others that might be a bit further along but that still need an investment to support their growth. Like PE firms, venture capital firms take an active role in advising the companies in which they invest, and they almost always have representation on the board of the company. Examples include Tiger Global Management and Sequoia Capital.

• Insurance companies. While the primary purpose of these firms is to provide insurance – such as for your home, car, or life – they almost always have investment arms as well. They use these groups to manage the money they hold for when they need to pay out insurance claims, and they sometimes provide investment management services to others as a stand-alone business as well. Examples include Allianz and Prudential.

• Banks. Similar to insurance companies, many banks have investment groups. Examples include Goldman Sachs, Merrill Lynch (part of Bank of America), and State Street Global Advisors.

• Pension funds. Pension funds hold assets on behalf of a specific groups of individuals. These groups may include employees and retirees of a company, such as General Motors; members of a union, like the Teamsters;  or government employees, like the California public employees (whose pension fund is known as CalPERS).

• Endowments and foundations. These institutions hold the assets of a non-profit entity, such as a charity, academic institution, or museum. They invest these assets to increase the amount of money available to support the needs of their organizations’ beneficiaries. Prominent examples include The Gates Foundation, The Harvard University endowment, and the endowment of the Smithsonian Museum.

• Sovereign Wealth Funds. These organizations hold the assets of entire countries. Notable examples include Norges Bank (for Norway), ADIA (for Abu Dhabi), and GPIF (for Japan). Countries use these assets to fund government retirement schemes, other social programs, and infrastructure projects in their respective countries. They invest in all types of assets – from stocks and bonds to whole companies to wind farm projects, just to name a few.

• Family Offices. As the name implies, these organizations manage the investments of a specific family, almost always one that has accumulated significant wealth. The ‘clients’ of the family office may be as few as one or as many as hundreds. Examples include Walton Enterprises (which represents the founding family of Walmart) and Bezos Expeditions (which represents Amazon founder Jeff Bezos).

• Investment Advisors and Wealth Managers. These firms manage the investments of and provide financial advice to individuals. In the US, they operate under several legal regimes, including Registered Investment Advisor and Broker-Dealer. Examples of such firms include Edward Jones and Morgan Stanley Wealth Management. Historically, these firms tended to focus on only wealthier individuals, but they are increasingly focusing on people with more modest levels of savings.

• Hybrid firms. While the list above represents the primary types of asset management firms, many of the larger firms in the industry operate in multiple categories, such as traditional asset management and private equity. Another important differentiation is between firms that only allocate money to asset managers and those that actually manage money directly. For example, few endowments manage their own money. They rely on others to do it for them. Other organizations – including pensions, sovereign wealth funds, family offices – may directly manage some of their assets but hire other firms to manage the remainder. 

For a list of the largest asset managers in the world, see the table below.

In addition to these firms, there are thousands of others. Collectively these firms are estimated to employ at least 1 million people around the world. Their size could be as little as one or two people and as large as tens of thousands.

How Asset Management Firms are Organized

Given the sheer breadth of asset management firms – in variety, area of specialization, client focus, and size – they are all organized somewhat differently. However, as a general rule, most firms include the following functions:

• Investments. These individuals within an asset management firm are the ones who make the actual decisions on the investments their firms make. They usually operate in teams, with divisions according to asset class, such as equities (stocks) or fixed income (bonds). These teams are usually led by a portfolio manager – who is ultimately responsible for the performance and risks of the money they manage – and a support staff of researchers, analysts, and others. The investment professionals are almost like the ‘product’ of the firm, and their success plays a key role in their firms’ success.

• Distribution. Distribution usually includes some combination of product management, marketing, sales, and client service. The exact nature of these roles is heavily dependent on the target client base of the asset management firm. If they target institutional clients – such as sovereign wealth funds, pensions, endowments and foundations, and family offices – their distribution function will be more ‘business-to-business’ in nature and relationship-driven. If they directly target retail investors, their distribution functions will be more ‘business-to-consumer’-oriented, and will include call centers, social media marketing, and big investments in websites and mobile apps. For firms targeting intermediaries – such as wealth managers and registered investment advisors – their distribution functions will be somewhat of a hybrid, reflecting that they are selling to other businesses but ultimately targeting retail investors (consumers).

• Operations. The operations staff process all of the investment activity, maintain the financial records for all of the firm’s funds and client-specific investments, take in money from and distribute it out to clients, set up new products, and manage reporting to clients and regulators, among other duties. These organizations are usually among the largest in most asset management firms.

• Technology. Technology staff build or source the applications used by the firm, including those used for investment decision-making, portfolio management, trading, operations, accounting, sales and marketing, and corporate functions like HR or Finance. They also manage the firm’s technology infrastructure and protect the firm against information security threats.

Entry-level opportunities in asset management

So, where are the entry-level opportunities in the industry? Given that these firms manage investments totaling billions, if not trillions of dollars, experience is key. Still, entry-level opportunities do still exist. Below is a description of some of the common ones. You can also check out this more general article on opportunities in the finance industry or this one on how to transition into the finance industry even if you don’t have existing experience.

Analysts. Analysts come in many varieties:

• Research or investment analysts perform the background work that helps the portfolio managers make their investment decisions. These roles can be a key stepping-stone toward portfolio management, and for this reason, are highly sought after. The individuals who fill these roles almost always have college degrees in areas like business, economics, finance, and math. Candidates will also be asked to demonstrate their passion for investing, such as through the participation in an investment club.

• Quantitative analysts or ‘quants’ perform a similar role as research or investment analysts, but usually more sophisticated mathematical techniques. Degree requirements are similar to research analysts, though a proven proficiency in advanced math, statistics, and / or data science is also an expectation. These roles are very competitive, so having an advanced degree is also a plus, and candidates will likely be asked to perform coding and or quantitative challenges as part of the interview process.

• ESG analysts. With the focus on sustainability, Environmental, Social, and Governance (ESG) analysis is becoming more of a mainstay in firms’ investment processes. ESG analysts help with that work. Degree requirements are similar to the above analyst types, and a knowledge of sustainability concepts is a must as well. These roles are limited, so are very competitive.

• Trading analysts assist the firm’s traders in optimizing trading strategies, i.e., how to execute sometimes sizeable trades at as good a price point as possible (inclusive of both the price of the security and the trading fees paid).  Degree requirements are similar to those of ‘quants’ and these roles are almost as competitive.

• Risk analysts help the firm measure and manage risks and may sit within the firm’s investment or risk functions. Operational or technology risk analysts may also sit within the firm’s operations or technology functions, respectively. The profile of the individuals who get these roles is similar to the above analyst types, though these roles are seen as one step removed from investing and therefore aren’t quite as competitive.

• Business analysts help gather requirements as part of projects work that the firm takes on. These may be business-focused or technology-focused projects. These individuals will almost certainly have college degrees and areas of focus that include computer science, design, engineering, IT technology, or user experience. They need to demonstrate an ability to see a need from the user’s perspective, capture the essence of what is required to meet that need, and document it clearly for the benefit of the more senior people who will actually deliver the work.

• Operations analysts help manage the day-to-day activity of the Operations function and may support trading, post-trade, accounting, or other specific groups within this function. While having a college degree isn’t essential to earn one of these roles, it certainly helps. Useful areas of study include business, economics, finance, and math. Operations isn’t the ‘glamor area’ of the firm that Investments is, and hence these roles aren’t as competitive as research or investment analyst roles. Successful candidates will need to demonstrate analytic skills, attention to detail, collaboration, and problem-solving capabilities. For more information on these roles, check out this

• Cyber security analysts protect the firm against information security threats. Given the highly technical nature of these roles, having a relevant degree – whether at the Associate’s or Bachelor’s level – is essential to earn one of these roles. Similar to operations analysts, successful candidates will need to demonstrate analytic skills, attention to detail, collaboration, and problem-solving capabilities

• Financial analysts help the firm manage a variety of finance-related matters, including the firm’s revenues and expenses, balance sheet, cash flows, and tax issues. Candidates who earn these roles will usually have at least a Bachelor’s degree, most often in accounting, business, economics, finance, or math.

• Service or help desk staff. For many asset management firms, the service or help desk is a common entry-level role for the Technology function. Individuals who start in these roles help with desktop support; hardware, software, and network issues; and a host of other technology problems. Staff who join an asset management firm into one of these roles will have an Associate’s or Bachelor’s degree in computer science, engineering, or IT technology.

Software engineers, or programmers, can be a high-volume entry-level hiring area in many firms. Successful candidates will almost certainly need to have a Bachelor’s degree in computer science or engineering to earn these roles. For more information, check out this article on typical requirements for

Data scientist. As the various processes within an asset management firm become increasingly data intensive, data-knowledgeable staff are needed to analyze all of that data. Candidates who earn these roles will have degrees in artificial intelligence, data science, economics, math, or statistics. These are very competitive roles, so differentiating factors (see below for ideas) will also help you get noticed and earn these roles.

Call centers. For retail-focused asset managers, an asset managerment firm’s call centers are a high-volume entry level area. For a large firm like Fidelity or Schwab or Vanguard, there may be literally thousands of call center representative roles available each year. While having a Bachelor’s degree in a relevant field is quite helpful, it’s not essential to earning one of these roles, as they are seen by asset management firms as training grounds for new staff, and they will have substantial in-house training programs in place. Successful candidates do need to demonstrate a strong service mentality and willingness to learn the specifics of the industry, as they will be spending their days on the phone talking to retail investors about a wide variety of situations, needs, and challenges. 

Social media manager. With more and more marketing being done online, social media managers play an important role in driving customer awareness, trial, adoption, and social proof. Asset management firms’ marketing companies therefore are employing more social media managers to lead this work. With the rising importance of Millennials and Gen Zers in terms of new client opportunities, firms will often be looking for candidates in these generations given their ability to relate to these generations. Still, these roles will be limited in any given firm, so they will be competitive. Candidates will need a degree background in marketing and will need to demonstrate attention to detail, communication skills, and a passion for business-focused social media.

Content strategist / writer. Asset management firms generate significant amounts of research and other content to bring insights to their clients and to differentiate themselves relative to competitors. Writers are used to create this content for various channels including websites, newsletters, and social media. Successful candidates will need degrees in communication, English, or marketing, as well as evidence of their written communications work.

Admin assistant. Like all other firms, asset managers employ administrative assistants to support the needs of their more senior staff. While these jobs may not have the glamor of some of the analyst roles, they do create a way to get in the door at these firms and differentiate yourself through your work ethic and results. Degree requirements will vary – if they exist at all – but successful candidates will need to demonstrate attention to detail, communication skills, maturity and poise, a service mentality, and a strong work ethic.

Corporate function staff. Other areas where entry-level roles may be available include HR (such as in recruiting or learning & development), Legal (where a relevant paralegal or law degree would be a must), or Audit (where the skill set would be similar to that of a financial or compliance analyst). Associate’s or Bachelor’s degrees in a relevant area would be important to earning these roles. Legal roles may also require a law degree.

What’s it like to work in an asset management firm

Given the sheer breadth of the types of firms in the industry, the day-to-day working environment and culture you may experience can vary broadly.  On one end of the spectrum are the ultra-competitive and intense environments of many hedge funds or private equity firms. The quality of talent in these types of firms is high and so are the expectations. If you want to work in a fast-paced, challenging environment, these firms will certainly deliver it.

On the other end of the spectrum are the firms that operate at a more measured pace. This is more likely to be the case in insurance companies or pension funds, whose cultures are more focused on managing risk and therefore are streaked with more conservatism. If you want a steadier day-to-day working environment, these types of firms may be better for you.

The rest of the industry – on average – is somewhere in between, but even in similar firms, cultures, values, and day-to-day experience can vary a lot. So it pays to do your research, talk to people who work in these firms, and ask about what it’s like to work there in your interviews.

The ecosystem supporting asset managers

If you’re struggling to get a job directly in asset management, there are a range of firms who work closely with asset managers where you may be able to find an entry-level role that you can later use as a springboard to get into asset management itself. The full range of these roles is outside our scope here, but here are a few examples:

• Data and analytics providers. Asset management is an information-based business, and firms in the industry buy a lot of data. Big providers in this area include Bloomberg, Factset, MSCI, Refinitiv, S&P, and many others.

• Consulting. Asset management firms also use a lot of consulting services, whether from the major management consulting firms like Bain, Boston Consulting Group (BCG), or McKinsey; the ‘Big 4’ accounting firms, Deloitte, EY, KPMG, and PwC; or any number of industry-focused boutique firms that provide guidance to the industry.

• Sell-side roles. In industry parlance, asset management firms are sometimes called the ‘buy side’ because they are the ones actually making the investments. The ‘sell side’ is supporting them in that process. Sell side firms include the major banks, like Bank of America, Citi, JP Morgan, and many others. Entry-level roles in these firms are every bit as competitive as those in asset management, so while they’d give you a lens into the industry, they’re no easier to secure.

• Outsourcing firms. Many asset management firms outsource large portions of their operations and technology work. Major players who provide these services include ‘custody banks’ like Bank of New York (BNY) or State Street, the major Indian outsourcing firms like Syntel or TCS, and large systems integrators like Accenture or IBM.

Other ways to improve your chances of securing an asset management role

Outside of your degree level and field of study, here are a few other tips for standing out among the crowd:

• Join an investment club. Participating in one of these clubs – whether you’re investing real or imaginary money, will help you learn what it’s like to research potential investments, make decisions on what to ‘buy’, and monitor how they perform. What you learn from this experience will help you demonstrate your passion for the industry.

• Begin work on your Chartered Financial Analyst (CFA) or similar designation. Many firms in the industry value these certifications, so getting a head start on one of them will help set you apart. For some roles, certifications are also required in the role, so demonstrating that you are committed to earning a certification will help to show your interest.

• Learn a programming language like Python. Python is used by quantitative analysts and others to perform a wide variety of analysis within an asset management firm. Having proficiency in Python or similar languages will boost your attractiveness as a candidate. Still, having the underlying quantitative skills remains a must for these roles.

• Research potential investments on your own. Asset management interviews will sometimes ask you to pitch them a potential investment. In these instances, it’s important for you to come with ideas and to be able to explain your rationale.

• Attend job fairs where asset management firms are represented. Meeting the recruiters while at these events will help make your name familiar to them when they review your resume. Just remember that these events are like interviews – you are being evaluated – so make sure you dress appropriately, do advance research on the participating firms that are of interest to you, and come prepared to make your pitch and ask them questions.

• Network with people in the industry. Here, too, the objective is to make your name familiar to recruiters and potential hiring managers. Don’t rely on your resume alone to get you an interview. Become known to the key people so your name rises to the top of the pile.

• Master your job search skills. Asset management roles are highly sought after, so you’ll need to do much more than simply applying to jobs you see posted online. Sharpen your pitch, do your homework on the companies in which you’re interested, make sure your resume conveys how you would bring value to the roles you’re seeking, and thoroughly prepare for any interviews you get. For advice on this and other job search topics, check out this article.

There are countless other ways to help you stand out, so map out a plan that works for you, and execute it accordingly.

Can Military Experience Propel a Successful Career in Asset Management?

Military service cultivates leadership, discipline, and risk management expertise that are highly valuable in asset management environments. Veterans and active-duty professionals often excel at strategic decision-making under pressure, skills that transfer directly to market analysis and portfolio management. This unique background can enhance a candidate’s ability to navigate complex financial landscapes while fostering a culture of integrity and accountability. Furthermore, specialized online educational programs—such as those offered by colleges for military online—provide a seamless transition toward acquiring industry-specific qualifications and strengthening competitive positioning in asset management.

How is Digital Innovation Shaping Asset Management Careers?

Digital innovation is redefining traditional asset management practices by integrating advanced analytics, automation, and data-driven decision making. These technological trends are not only optimizing operations but are also creating specialized roles focused on quantitative analysis, algorithm development, and cybersecurity within asset management firms. Candidates who actively enhance their technical skill sets—through courses on machine learning, blockchain, or digital finance—can better navigate this evolving landscape. Supplementing your expertise with formal education, such as programs offered by top online bachelor degree programs, can be a strategic move to stay competitive and meet the increasing demand for digital proficiency in the industry.

Are Professional Certifications Critical for Asset Management Success?

In an industry that values both technical expertise and specialized knowledge, professional certifications can distinctly enhance your career prospects. Earning credentials such as the Chartered Financial Analyst (CFA) designation or sector-specific accreditation in risk management and data analytics offers clear, demonstrable proof of your proficiency and commitment. Such certifications not only deepen your industry insights but also help differentiate you from peers in a competitive market. Exploring complementary educational opportunities through an online college with no application fee can provide a solid foundation, while targeted certifications further refine your professional profile. Evaluating these credentials alongside continuous learning initiatives is essential for positioning yourself as a leader in the rapidly evolving asset management landscape.

How Can Education Enhance Your Asset Management Career?

Educational qualifications and continuous skill development are instrumental in distinguishing yourself in a competitive asset management landscape. In addition to traditional finance credentials, interdisciplinary programs that focus on data analysis, risk assessment, and digital strategy can improve your operational expertise and marketability. Pursuing specialized certifications or supplementing your degree with courses like online degrees in marketing not only broadens your knowledge base but also strengthens your ability to navigate evolving industry demands and trends.

How is ESG Investing Impacting Asset Management Careers?

The asset management industry is increasingly integrating ESG principles to meet rising client demands for socially responsible investment options. Professionals with expertise in ESG analysis, sustainability reporting, and compliance are currently in high demand. Mastering these skills requires a nuanced understanding of environmental impact, social responsibility, and evolving regulatory frameworks that influence investment strategies. Candidates looking to enhance their credentials can benefit from focused training, such as completing accredited online certificate programs, to gain a competitive edge in this growing field.

What Are the Long-Term Career Growth Prospects in Asset Management?

Long-term career success in asset management depends on the continuous development of strategic, analytical, and leadership skills that set professionals apart in a competitive field. Specialized expertise—often enhanced by pursuing advanced studies such as a master's degree requirements—is a key factor in accelerating career advancement and accessing senior-level responsibilities. Maintaining a forward-looking mindset that embraces industry trends, coupled with focused professional development and targeted networking efforts, can empower individuals to transition into pivotal roles that shape firm-wide investment strategies and drive overall business growth.

How Can Networking and Mentorship Accelerate Your Asset Management Career?

Effective networking and mentorship are strategic assets in transforming an asset management career. By developing targeted professional relationships within the industry, you gain access to insider knowledge on emerging trends and job opportunities that are not widely advertised. Engaging in industry-specific events, online communities, and professional organizations can help you identify potential mentors who offer personalized guidance and practical insights into career progression. In addition, leveraging academic pathways—such as the easiest PhD programs—can further supplement your credentials and open doors to specialized roles, ultimately enhancing your competitive edge in a dynamic market.

Conclusion

The asset management industry plays a key role in our economies, ultimately helping us as individuals prepare for our financial futures. The industry is large, and it continues to grow as the global pool of investable assets (i.e., the world’s collective savings) also grows. It’s a highly technical industry, and experience is essential for many roles, but there are nonetheless a wide range of entry-level opportunities available. If the industry is of interest to you, prepare accordingly in terms of your schooling, take steps to stand out, and go for it!