Investment management professionals are largely happy with their jobs, but money is not their main motivator, a survey from executive recruiters Russell Reynolds Associates found.
The survey, which polled 500 members of the Association for Investment Management and Research, found 81% of managers said they were satisfied or very satisfied with their job. Also, 91% of executives in firm management said they were satisfied with their jobs, followed by 85% of portfolio managers and 78% of marketing, sales and asset allocation professionals.
Happiness varied by type of firm: 90% of managers in mutual fund companies and 88% of those working with plan sponsors were satisfied with their jobs, compared with 76% of professionals at banks and 74% of those at insurance companies.
Asked to identify the factors that create positive feelings about their job, most managers named professional achievement, personal or professional growth, the work itself and their degree of responsibility as more important than pay.
Factors creating negative feelings were company policies and administration, relationships with supervisors, compensation and the negative impact of work on their personal life.