Two Skills That Will Always Get You Paid Handsomely On Wall Street

Sure, Wall Street's changed dramatically over the last few years, but according to Alan Breed — the CEO of leading asset manager Edgewood Management — there are still two surefire ways you can get paid handsomely on The Street.

In the most recent episode of the Open Door interview series, hosted by finance career site OneWire, Breed discusses these two crucial skills: raising money and marketing.

“First,” Breed says, “You’re going to be able to raise money. People who can raise money in an environment like this are going to be very rewarded…Moneymakers are few and far between; if you can generate alpha, you will get money.”

The second way to get ahead, he says, is marketing. Breed explains, “Marketing is a vital source of growing your business, and it’s barely been moved from the back burner to the front burner. It used to be that Portfolio Managers who had all the big ideas were the ones that ran the firms. And nowadays you’re finding that marketing people who can develop distribution channels are the really second most important people in the firm and are going to get paid.”

Breed also warns against lower compensation in other areas. “Everyone else in the middle,” he says, “who processes transactions, is going to make less in the future than they are today. Whether you’re stock broking, whether you’re analyzing, whether you’re working in private equity firms; if you’re just doing the grunt work…you’re going to find compensation under pressure.”

So figure out where you fit in.

Watch the full Open Door interview below: