Family Office · Senior · 12 to 18 years typical
Portfolio Manager Salary
Annual base compensation, national and by market, from 258 named sources. Every figure below says where it came from.
| Market | Multiplier | P25 | P50 | P75 | P90 |
|---|---|---|---|---|---|
| New York City, NY | 1.40× | $295,000 | $315,000 | $420,000 | $550,000 |
| San Francisco, CA | 1.30× | $275,000 | $295,000 | $390,000 | $510,000 |
| Boston, MA | 1.25× | $265,000 | $280,000 | $375,000 | $490,000 |
| Palm Beach, FL | 1.25× | $265,000 | $280,000 | $375,000 | $490,000 |
| Miami, FL | 1.23× | $255,000 | $275,000 | $370,000 | $480,000 |
| Los Angeles, CA | 1.20× | $250,000 | $270,000 | $360,000 | $470,000 |
| Washington, DC | 1.20× | $250,000 | $270,000 | $360,000 | $470,000 |
| Seattle, WA | 1.15× | $240,000 | $260,000 | $345,000 | $450,000 |
| Chicago, IL | 1.05× | $220,000 | $235,000 | $315,000 | $410,000 |
| Dallas, TX | 1.00× | $210,000 | $225,000 | $300,000 | $390,000 |
Time to fill 15 weeks for comparable searches, estimated from rouka's benchmark set.
Growing allocation to alternatives increases demand for specialized PMs
What does a Portfolio Manager do?
The Portfolio Manager operates within single-family or multi-family offices, working directly with principals, family members, and co-investment partners. Professionals in this role typically bring 12 to 18 years of relevant experience. Classified at the Senior level, this position draws from a tight candidate market with an estimated pool of 130-185 qualified professionals, making targeted sourcing and competitive compensation critical for successful placements.
What drives Portfolio Manager compensation?
The median (P50) compensation for a Portfolio Manager is $225,000, with the 25th to 75th percentile range spanning $210,000 to $300,000. Pay variation across this range is primarily driven by assets under management, family office structure (single vs. multi-family), investment strategy complexity, geographic market, and whether the office manages direct investments or outsources to external managers. Demand for this role is trending upward with 16% year-over-year growth, which is putting upward pressure on compensation at all levels.
Portfolio Manager career path
Professionals who move into Portfolio Manager roles most commonly come from institutional asset management, private banking, wealth management, accounting firms, or corporate finance. From this position, the typical trajectory leads toward chief investment officer roles, family office CEO positions, or founding their own advisory practice. The average tenure in this role is approximately 4.2 years, with an annual turnover rate of 13%.
Hiring a Portfolio Manager?
A search playbook for this seat: compensation positioning against the band above, the sourcing map, and the interview framework.