What is a Fixed Asset Manager Job?
A fixed asset manager job is a specialized position within a company or organization that involves overseeing and managing the fixed assets of the company. Fixed assets are long-term tangible assets that are not easily converted into cash, such as buildings, equipment, vehicles, and land. The primary responsibility of a fixed asset manager is to ensure that these assets are properly recorded, maintained, and accounted for in accordance with company policies and accounting standards.
What Does a Fixed Asset Manager Usually Do in This Position?
In this position, a fixed asset manager is responsible for a wide range of tasks related to the management of fixed assets. This may include conducting regular physical audits to verify the existence and condition of assets, updating and maintaining accurate records of asset details such as purchase dates, costs, and depreciation schedules, and reconciling asset records with the general ledger. Additionally, a fixed asset manager may be involved in the disposal or sale of assets, as well as providing support and guidance to other departments within the organization regarding fixed asset-related matters.
Top 5 Skills for a Fixed Asset Manager Position
- Knowledge of accounting principles and financial reporting standards
- Strong analytical and problem-solving skills
- Attention to detail and accuracy in record-keeping
- Proficiency in using fixed asset management software or systems
- Excellent communication and interpersonal skills for collaborating with various stakeholders
How to Become a Fixed Asset Management Specialist
Becoming a fixed asset management specialist typically requires a combination of education, experience, and relevant certifications. A bachelor's degree in accounting, finance, or a related field is often preferred by employers. Some companies may also require or prefer candidates with professional certifications such as Certified Fixed Asset Manager (CFAM) or Certified Public Accountant (CPA). Gaining experience in accounting or finance roles, particularly in the area of fixed asset management, can also be beneficial in pursuing a career in this field.
Average Salary for Fixed Asset Manager Jobs
The average salary for fixed asset manager jobs can vary depending on factors such as the size and industry of the company, the location, and the level of experience and qualifications of the individual. According to national salary data, the average annual salary for fixed asset managers in the United States ranges from $60,000 to $100,000. However, it's important to note that salaries can be higher for those with extensive experience or in senior-level positions within larger organizations.
Roles and Types of Fixed Asset Managers
Fixed asset managers can be found in various industries and sectors, including manufacturing, construction, healthcare, and financial services. Within these industries, there are different types of fixed asset manager roles, such as:
1. Corporate Fixed Asset Manager: This role typically involves managing fixed assets for a large corporation or organization with multiple locations and a diverse range of assets.
2. Government Fixed Asset Manager: In this role, the focus is on managing fixed assets for government entities, such as municipalities or federal agencies, which may have specific requirements and regulations.
3. IT Fixed Asset Manager: This role is specific to managing fixed assets related to information technology, such as computer hardware, software, and networking equipment.
4. Real Estate Fixed Asset Manager: In this role, the emphasis is on managing fixed assets related to real estate properties, including buildings, land, and facilities.
Locations with the Most Popular Fixed Asset Manager Jobs in the USA
While fixed asset manager jobs can be found in various locations across the United States, there are certain areas that have a higher concentration of opportunities. Some of the top locations with the most popular fixed asset manager jobs include:
1. New York City, NY
2. Houston, TX
3. Chicago, IL
4. Los Angeles, CA
5. Atlanta, GA
These cities are known for their strong business sectors and offer a range of industries where fixed asset managers are in demand.
What Are the Typical Tools Used by Fixed Asset Managers?
Fixed asset managers often utilize a variety of tools and software to streamline their work and ensure accurate asset management. Some of the typical tools used by fixed asset managers include:
- Fixed asset management software: This software helps in tracking and managing the entire lifecycle of fixed assets, from acquisition to disposal.
- Spreadsheet software: Programs like Microsoft Excel are commonly used for creating and maintaining asset records, tracking depreciation, and generating reports.
- Barcode or RFID technology: These technologies are used to label assets and facilitate efficient tracking and inventory management.
- Financial accounting software: Fixed asset managers often work closely with accounting systems to ensure accurate financial reporting and compliance with accounting standards.
In Conclusion
A fixed asset manager plays a crucial role in the effective management of an organization's fixed assets. By ensuring accurate record-keeping, proper maintenance, and compliance with accounting standards, they contribute to the overall financial health and success of the company. With the right combination of skills, education, and experience, individuals can pursue a rewarding career in fixed asset management and make a valuable impact in their chosen industry.