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FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurements (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration liability $ 0 $ 13,400,000
Fair value, measurements, recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 2,309,800,000 1,678,100,000
Other investments 100,000 700,000
Investments in affiliated collateralized loan obligations 0 0
Total 3,770,900,000 2,937,800,000
Contingent consideration liability 0 0
Fair value, measurements, recurring | Level 1 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 258,800,000 246,400,000
Fair value, measurements, recurring | Level 1 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 209,400,000 206,000,000.0
Fair value, measurements, recurring | Level 1 | Deferred compensation liabilities economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 992,800,000 806,600,000
Fair value, measurements, recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 0 0
Other investments 0 0
Investments in affiliated collateralized loan obligations 6,300,000 8,400,000
Total 59,700,000 50,200,000
Contingent consideration liability 0 0
Fair value, measurements, recurring | Level 2 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0 0
Fair value, measurements, recurring | Level 2 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 53,400,000 41,800,000
Fair value, measurements, recurring | Level 2 | Deferred compensation liabilities economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0 0
Fair value, measurements, recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents held in money market funds 0 0
Other investments 0 0
Investments in affiliated collateralized loan obligations 0 0
Total 0 0
Contingent consideration liability 0 13,400,000
Fair value, measurements, recurring | Level 3 | Discretionary investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0 0
Fair value, measurements, recurring | Level 3 | Seed capital    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products 0 0
Fair value, measurements, recurring | Level 3 | Deferred compensation liabilities economic hedges    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
T. Rowe Price investment products $ 0 $ 0