The role of an Asset Manager: duties, training and salary
Infrastructure and industrial processes are becoming increasingly complex. In this, the asset manager has a crucial role to play. This professional contributes to the efficient management and optimisation of physical assets, from industrial plants to transport networks. But what exactly does an asset manager do, what background do they need, and what can they earn? In this article, we dive deep into this crucial function and provide insight into how the field is evolving.
What does an asset manager do?
An asset manager is responsible for managing and optimising physical assets throughout their entire life cycle. This includes planning, acquisition, operation, maintenance and eventual replacement or disposal. The aim is to maximise the value and performance of these assets, while minimising costs and risks.
The work of an asset manager varies depending on the sector, but the main responsibilities are:
- Strategic planning: Establishing long-term plans for managing assets to support business goals.
- Analysing performance: Monitoring asset performance and using data analysis to make improvements.
- Budget management: Manage financial resources required for maintenance, upgrades and replacements.
- Collaboration: Collaborate with different teams, including maintenance managers, reliability engineers and operations managers, to ensure a holistic approach to asset management.
- Risk management: Identifying and mitigating risks that could affect asset performance or safety.
A growing focus within asset management is sustainability. Asset managers play a crucial role in incorporating sustainable practices, such as using energy-efficient equipment and minimising waste.
Which studies suit an asset manager?
The job of asset manager requires a combination of technical, analytical and management skills. A degree in one of the following fields provides an excellent foundation:
- Engineering: Specific directions such as electromechanics, civil engineering or industrial engineering are highly relevant.
- Business Management: Focus on operational management or supply chain management may be useful.
- Asset Management and Sustainability: Specific courses and certifications, such as ISO 55000 training, offer valuable knowledge.
For professionals already working in the sector, additional training and certifications, such as those offered by BEMAS, can help deepen their skills. For example, consider courses in infrastructure asset management or industrial asset management.
What does an asset manager earn?
An asset manager's salary depends on experience, sector and location. Here are some indicative figures for the Belgian and European markets:
- Entry level: Beginning asset managers can expect a gross annual salary of around €45,000 to €55,000.
- Mid-level: With a few years' experience, this rises to €60,000-€75,000 a year.
- Senior level: Senior asset managers and managers in leadership roles can earn more than €90,000 a year, depending on the sector and responsibilities.
On top of the basic salary often come additional benefits such as a company car, bonuses, and additional insurance. The increasing demand for qualified asset managers makes it an attractive career path with many growth opportunities.
Want to know more?
- Learn more about asset management and the role of maintenance in sustainability on our knowledge base.
- Discover our education and training courses on asset management and reliability via the training page.
- Watch our webinars or read a book via our shop.
- Interested in best practices and innovative technologies? Visit our events page.
Asset management is a fascinating field that combines technical expertise, strategic insight and innovation. For professionals who are passionate about sustainability, reliability and maximising business value, this profession offers a challenging and rewarding career. Whether you are just starting out or have years of experience, there are plenty of opportunities to grow in this dynamic sector.
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