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Discretionary Portfolio Manager Jobs (NOW HIRING)

AQR

Research Associate - Discretionary Macro

Greenwich, CT · On-site

$180K - $220K/yr

The Team AQR is looking to hire a Researcher to join in Discretionary Portfolio Management within the Macro and Multi-Strategy Group. The Macro and Multi Strategy group focuses on all aspects of ...

Towne Bank

Portfolio Manager - Towne Trust

Raleigh, NC · On-site

Knowledge of fiduciary standards, principles, products and applicable laws and regulations relevant to discretionary portfolio management for fiduciary * Intermediate level knowledge of Microsoft ...

Bank of America

Portfolio Manager

New York, NY · On-site

$153K - $208K/yr

The Direct Indexing Portfolio Manager within GWIM CIO Portfolio Management will be part of a team ... Discretionary incentive eligible This role is eligible to participate in the annual discretionary ...

Bank of America

Portfolio Manager

Charlotte, NC

$153K - $208K/yr

The Direct Indexing Portfolio Manager within GWIM CIO Portfolio Management will be part of a team ... Discretionary incentive eligible This role is eligible to participate in the annual discretionary ...

Bank of America

Portfolio Manager

Chicago, IL

$153K - $208K/yr

The Direct Indexing Portfolio Manager within GWIM CIO Portfolio Management will be part of a team ... Discretionary incentive eligible This role is eligible to participate in the annual discretionary ...

Arbor Realty Trust

Portfolio Manager

Buffalo, NY

$70K - $90K/yr

The Portfolio Manager is responsible for managing the performing Agency portfolio consisting of ... Employees are eligible for a discretionary bonus based on employee work performance reviewed during ...

Arbor Realty Trust

Portfolio Manager

Buffalo, NY · On-site

$70K - $90K/yr

The Portfolio Manager is responsible for managing the performing Agency portfolio consisting of ... Employees are eligible for a discretionary bonus based on employee work performance reviewed during ...

Bank of America

Portfolio Manager III

Saint Louis, MO · On-site

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

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All JobsDiscretionary Portfolio JobsDiscretionary Portfolio Manager Jobs

Discretionary Portfolio Manager information

See salary details

$37K

$100.5K

$187.5K

How much do discretionary portfolio manager jobs pay per year?

As of Jun 28, 2026, the average yearly pay for discretionary portfolio manager in the United States is $100,458.00, according to ZipRecruiter salary data. Most workers in this role earn between $65,500.00 and $130,000.00 per year, depending on experience, location, and employer.

What is the difference between Discretionary Portfolio Manager vs Non-Discretionary Portfolio Manager?

AspectDiscretionary Portfolio ManagerNon-Discretionary Portfolio Manager
Decision AuthorityHas full authority to make investment decisions on behalf of clientsProvides recommendations; clients make final decisions
CertificationsTypically holds CFA or CFP certificationsOften holds similar certifications but may have less decision-making authority
Work EnvironmentWorks directly with clients and manages portfolios independentlyWorks alongside clients, advising but not executing trades without client approval
Industry UsageCommon in wealth management and private bankingCommon in advisory roles and financial planning

Discretionary Portfolio Managers have full authority to manage client portfolios without prior approval, while Non-Discretionary Portfolio Managers provide advice and recommendations, leaving the final decision to the client. Both roles often require similar credentials but differ in decision-making power and work approach.

What is a Discretionary Portfolio Manager?

A Discretionary Portfolio Manager is a financial professional who manages investment portfolios on behalf of clients, making buy and sell decisions without requiring prior client approval for each transaction. They operate under a discretionary mandate, which allows them to act quickly and efficiently in response to market conditions. Their main goal is to achieve the client’s investment objectives while adhering to agreed-upon risk parameters and strategies. Discretionary portfolio managers typically work for asset management firms, private banks, or wealth management companies.

What are the key skills and qualifications needed to thrive as a Discretionary Portfolio Manager, and why are they important?

To thrive as a Discretionary Portfolio Manager, you need strong analytical skills, investment knowledge, and typically a relevant degree such as finance, economics, or CFA certification. Familiarity with portfolio management software, trading platforms, and risk analysis tools is essential. Excellent communication, decision-making, and client relationship skills help you build trust and explain complex strategies clearly. These abilities are important to optimize clients’ investment outcomes while maintaining compliance and adapting to changing market conditions.

How does a Discretionary Portfolio Manager typically interact with clients and internal teams to ensure investment objectives are met?

A Discretionary Portfolio Manager frequently collaborates with both clients and internal teams such as analysts, traders, and compliance officers. While they have autonomy in day-to-day investment decisions, they maintain regular communication with clients to clarify objectives, risk tolerance, and performance expectations. Internally, they rely on research and market insights provided by analysts and work closely with traders to execute strategies efficiently. This collaborative approach helps align portfolio management with client goals and regulatory standards, ensuring the portfolio remains on track.
Infographic showing various Discretionary Portfolio Manager job openings in the United States as of June 2026, with employment types broken down into 98% Full Time, 1% Part Time, and 1% Contract. Highlights an 90% Physical, 5% Hybrid, and 5% Remote job distribution, with an average salary of $100,458 per year, or $48.3 per hour.
Fixed Income Trader/Portfolio Manager

Fixed Income Trader/Portfolio Manager

Deutsche Bank

New York, NY • On-site

$120K - $175K/yr

Full-time

Medical, Retirement, PTO

Posted 10 hours ago

Deutsche Bank rating

7.7

Company rating: 7.7 out of 10

Based on 14 frontline employees who took The Breakroom Quiz

75th of 142 rated banks

Job description

Job Description:
Job Title: Fixed Income Trader/Portfolio Manager
Corporate Title: Assistant Vice President/Vice President
Location: New York, NY
ALL ROLES TO BE CONSIDERED
Overview
Wealth Management business supports clients of Deutsche Bank in the areas of wealth advisory, discretionary, trust planning, custody, and brokerage as well as the deposit business with combined $75bn AUM. Fixed Income Portfolio Management is part of Wealth Management's Discretionary Portfolio Management team and provides investment management services for clients of the bank. You will be an integral part of the team working to deliver Portfolio Management expertise to these clients.
What We Offer You
  • A diverse and inclusive environment that embraces change, innovation, and collaboration
  • A hybrid working model, allowing for in-office / work from home flexibility, generous vacation, personal and volunteer days
  • Employee Resource Groups support an inclusive workplace for everyone and promote community engagement
  • Competitive compensation packages including health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits
  • Educational resources, matching gift, and volunteer programs

What You'll Do
  • As a Fixed Income Trader, you will work closely with portfolio managers, investment managers, and bankers in the construction and oversight of short duration separately managed fixed income accounts
  • Become fluent in all trading and portfolio management systems utilized by the fixed income team
  • Work to understand the components necessary to review issuers in the municipal bond market and complete basic municipal bond credit updates
  • An understanding of the dynamics impacting fixed income markets and ability to effectively communicate and present this knowledge to prospects, clients, and internal partners
  • Ability to buy and sell bonds for client portfolios with specific attention to municipal bonds, and an understanding of the overall fixed income markets
  • Understand the complete product set offered by the Discretionary Portfolio Management department. Build your franchise among Discretionary Portfolio Management colleagues as well as Bankers and Investment Management teams

Skills You'll Need
  • Ability to collaborate with portfolio managers and analysts to understand client needs and account mandates
  • Understanding of the financial markets, economic indicators, interest rate trends to inform trading decisions
  • Ability to buy and sell bonds for client portfolios
  • Ability to construct and manage separately management account portfolios
  • Ability to develop and maintain strong relationships with Investment Managers, Relationship Managers, and clients, among others

Skills That Will Help You Excel
  • Detail oriented in documentation, pricing and execution
  • Strong team player
  • Experience with Bloomberg, Excel, Word
  • Understand the complete product set offered by the Discretionary Portfolio Management department and the Private Bank
  • Self-motivated to learn

Expectations
It is the Bank's expectation that employees hired into this role will work in the New York, NY office in accordance with the Bank's hybrid working model.
Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion.
The salary range for this position in New York City is $120,000 to $175,000 . Actual salaries may be based on a number of factors including, but not limited to, a candidate's skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.
Deutsche Bank Benefits
At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That's why we are focused on providing benefits and perks that enable our colleagues to live authentically and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home. Click here to learn more!
Learn more about your life at Deutsche Bank through the eyes of our current employees: https://careers.db.com/life
The California Consumer Privacy Act outlines how companies can use personal information. If you are interested in receiving a copy of Deutsche Bank's California Privacy Notice, please email HR.Direct@DB.com.
We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.
Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.
We welcome applications from all people and promote a positive, fair and inclusive work environment.
Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status or other characteristics protected by law. Click these links to view Deutsche Bank's Equal Opportunity Policy Statement and the following notices: EEOC Know Your Rights; Employee Rights and Responsibilities under the Family and Medical Leave Act; and Employee Polygraph Protection Act.

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About Deutsche Bank

Sourced by ZipRecruiter

Deutsche Bank is the leading German bank with strong European roots and a global network. We're driving growth through our strong client franchise. Against a backdrop of increasing globalization in the world economy, Deutsche Bank is very well-positioned, with significant regional diversification and substantial revenue streams from all the major regions of the world. We serve our clients' real economic needs in commercial banking, investment banking, private banking and asset management. We are investing heavily in digital technologies, prioritizing long term success over short-term gains, and serving society with ambition and integrity.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

New York, NY, US

Social media

Twitter

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