How to hire a Portfolio Manager

How to hire a portfolio manager, step by step

Here's a step-by-step portfolio manager hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a portfolio manager job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new portfolio manager
• Step 8: Go through the hiring process checklist

What does a Portfolio Manager do?

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1. Identify your hiring needs

   The portfolio manager hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine Employee vs Contractor Status

   Is the person you're thinking of hiring a US citizen or green card holder?

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   A portfolio manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, portfolio managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   The following list breaks down different types of portfolio managers and their corresponding salaries.

   Type Of Portfolio Manager	Description	Hourly Rate
   Portfolio Manager	Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.	$31-95
   Banking Center Manager	A banking center manager is responsible for monitoring bank operations, auditing financial transactions, and ensuring that the banking staff provides the highest customer service for their clients. Banking center managers assist the team members in responding to the customers' inquiries and concerns regarding the financial options they offer, opening accounts, selling financial instruments, and resolving transactional complaints... Show More	$45-83
   Accounts Payable Manager	An accounts payable manager is in charge of supervising a company's financial activities, particularly in all payable matters. Their primary responsibilities revolve around managing and assessing staff performances and overseeing check and payroll disbursements... Show More	$24-45

   Show more

2. Create an ideal candidate profile

   Common Skills:

   • Portfolio Management
   • Customer Service
   • Risk Management
   • Project Management
   • Financial Statements
   • Real Estate
   • Oversight
   • Business Development
   • Financial Analysis
   • Client Relationships
   • Credit Risk
   • Client Facing
   • Strong Analytical
   • Credit Analysis

   Check All Skills

   Responsibilities:

   • Manage ongoing existing client needs and assist in credit structuring at loan origination.
   • Manage over $900M in U.S. Equities and fixed-income; are simultaneously responsible for monitoring over $1.4b in global assets
   • Manage governance, engage stakeholders and communicate budget impact to senior management.
   • Conduct post-promotion analysis and manage financial reporting to ensure favorable ROI for clients.
   • Create PowerPoint presentation books for clients.
   • Facilitate internal, external, GAAP audits.

   More Portfolio Manager duties

3. Make a budget

   Including a salary range in your portfolio manager job description helps attract top candidates to the position. A portfolio manager salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a portfolio manager in Iowa may be lower than in Connecticut, and an entry-level portfolio manager usually earns less than a senior-level portfolio manager. Additionally, a portfolio manager with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average portfolio manager salary

   $114,671yearly

   $55.13 hourly rate

   ---

   Entry-level portfolio manager salary

   $66,000 yearly salary

   Updated March 15, 2025

   Average portfolio manager salary by state

   Rank	State	Avg. Salary	Hourly Rate
   1	Connecticut	$141,864	$68
   2	New York	$141,272	$68
   3	California	$124,700	$60
   4	Massachusetts	$124,463	$60
   5	Rhode Island	$121,108	$58
   6	District of Columbia	$120,629	$58
   7	Pennsylvania	$112,839	$54
   8	Maryland	$109,662	$53
   9	Maine	$109,482	$53
   10	Virginia	$108,549	$52
   11	Illinois	$107,498	$52
   12	Arizona	$107,461	$52
   13	Michigan	$104,369	$50
   14	Ohio	$103,890	$50
   15	Texas	$103,773	$50
   16	Washington	$102,829	$49
   17	North Carolina	$100,586	$48
   18	Tennessee	$97,028	$47
   19	Georgia	$94,207	$45
   20	Wisconsin	$94,061	$45

   Average portfolio manager salary by company

   Company

   Rank	Company	Average Salary	Hourly Rate	Job Openings
   1	The Citadel	$243,558	$117.10	1
   2	Morgan Lewis	$220,972	$106.24
   3	Point72	$200,356	$96.33	3
   4	BlueCrest Capital Management	$194,514	$93.52
   5	Legal & General Investment Management America	$193,457	$93.01	2
   6	Siguler Guff & Company	$192,798	$92.69
   7	CIBC World Markets	$192,053	$92.33	1
   8	Dimensional Fund Advisors	$190,228	$91.46	2
   9	Federal Home Loan Bank of Indianapolis	$189,327	$91.02	1
   10	BNP Paribas	$188,817	$90.78	1
   11	Deutsche Bank	$187,944	$90.36	11
   12	Lloyds TSB Bank	$187,805	$90.29
   13	Silicon Valley Bank	$187,715	$90.25
   14	Nomura Securities	$187,344	$90.07	8
   15	Vontobel	$187,286	$90.04
   16	Crestline Investors	$187,076	$89.94
   17	Lendlease	$186,757	$89.79
   18	Meta	$186,747	$89.78	107
   19	Credit Suisse	$185,993	$89.42
   20	Connecticut Children's Medical Center	$184,269	$88.59

4. Writing a Portfolio Manager Job Description

   A good portfolio manager job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a portfolio manager job description:

   Portfolio Manager job description example

   Title:
   Technology Portfolio Manager and Integrator
   
   Technology Portfolio Manager and Integrator
   
   KBR has an exciting opportunity for a Technology Portfolio Manager and Integrator with active TS/SCI and Full Scope Poly in Chantilly, VA to support the Intelligence Community.
   The Technology Portfolio Manager and Integrator captures requirements, identifies and provides subject matter expertise in operational technologies to include COTS. The Project Manager will provide programmatic, strategic and technical guidance to management, requiring insight into overall details within the client organization. Participates in reviews to ensure applicability to the current requirements. Reviews CONOPS/plans/procedures and ensures they meet the objectives of requirements.
   
   Responsibilities:
   Assist client with establishing the strategic direction regarding requirement and portfolio management.
   Gather and vet requirements for hardware, software and/or system engineering efforts, ensuring the requirements are complete, unambiguous, and concise
   Participate in engineering and operational review boards and other technical forums and facilitate effective integration of technical solutions.
   Prepare project documentation and schedules for milestone briefings.
   Facilitate internal and external communication with stakeholders.
   Provide highlights and written documentation of team accomplishments and concerns.
   Track project commitments and ensure timely preparation of responses.
   Prepare briefings for appropriate stakeholders.
   Communicate technical information into terms that are applicable and understandable to customers/stakeholders at multiple knowledge levels
   
   Required Qualifications:
   Must have an active TS/SCI with Full Scope PolyRequires 12-15 years of experience, or MS with 10-13 or PhD with 10+.Bachelor's degree in technical discipline or equivalent combination of training and experience.Customer domain experience.Demonstrated knowledge of operational technology.Demonstrated technical knowledge of commercial communication concepts and implementation.Technology associated with commercial and/or private communications (terrestrial, maritime, air and space).Demonstrated experience refining ambiguous customer or system requirements into actionable technical requirements.Knowledge of Systems Development Life Cycle (SDLC)
   
   Desired Qualifications:
   Knowledge of RFDemonstrated experience discovering technologies for integration into an operationally effective solution offering Demonstrated ability to envision integration of disparate technologies/capabilities into a cohesive operational technology offering Experience with creative or unconventional use of technologies Familiarity with Sponsor mission and business processes Software design and development experience Data analysis and management experience Knowledge of Sponsor's Project Management Framework (PMF) Technical knowledge experience of the Sponsor's systems Hands on experience with the Sponsor's security requirements and processes
   
   In compliance with the U.S. federal government's vaccine mandate, only candidates who are fully vaccinated for COVID-19 or have a reasonable accommodation or approved medical exception will be considered for this position.
   
   KBR is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, disability, sex, sexual orientation, gender identity or expression, age, national origin, veteran status, genetic information, union status and/or beliefs, or any other characteristic protected by federal, state, or local law.

   Copy This Example

   

5. Post your job

   To find portfolio managers for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any portfolio managers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level portfolio managers with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your portfolio manager job on Zippia to find and recruit portfolio manager candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Your first interview with portfolio manager candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new portfolio manager

   Once you've selected the best portfolio manager candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a portfolio manager?