Bank accountant vs fund accountant

The differences between bank accountants and fund accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a bank accountant and a fund accountant. Additionally, a fund accountant has an average salary of $60,203, which is higher than the $52,142 average annual salary of a bank accountant.

The top three skills for a bank accountant include reconciliations, general ledger and financial statements. The most important skills for a fund accountant are reconciliations, calculation, and securities.

Bank accountant vs fund accountant overview

	Bank Accountant	Fund Accountant
Yearly salary	$52,142	$60,203
Hourly rate	$25.07	$28.94
Growth rate	6%	6%
Number of jobs	43,750	35,702
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 84%
Average age	44	44
Years of experience	4	4

Bank accountant vs fund accountant salary

Bank accountants and fund accountants have different pay scales, as shown below.

	Bank Accountant	Fund Accountant
Average salary	$52,142	$60,203
Salary range	Between $39,000 And $68,000	Between $44,000 And $80,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Warburg Pincus
Best paying industry	-	Finance

Differences between bank accountant and fund accountant education

There are a few differences between a bank accountant and a fund accountant in terms of educational background:

	Bank Accountant	Fund Accountant
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 84%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Bank accountant vs fund accountant demographics

Here are the differences between bank accountants' and fund accountants' demographics:

	Bank Accountant	Fund Accountant
Average age	44	44
Gender ratio	Male, 36.9% Female, 63.1%	Male, 61.5% Female, 38.5%
Race ratio	Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 14.1% White, 62.2% American Indian and Alaska Native, 0.5%	Black or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 18.4% White, 59.7% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between bank accountant and fund accountant duties and responsibilities

Bank accountant example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Assist in the creation, verification, and transmission of ACH files.
Collaborate with payroll conversion process from ADP to PeopleSoft; performing parallel testing and confirming accuracy of payroll information in PeopleSoft.
Review of contract documentation to determine billing requirements, reporting requirements and ERP setup for automate invoicing.

Fund accountant example responsibilities.

Manage fund accounting activities for five funds for an investment manager with $80b in AUM.
Manage accoutningtransition from Quickbooks to Yardi.
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Record efficiently accounting records, securities positions, corporate actions and journal entries accordance with department policies and procedures.
Process complex transactions for foreign and domestic bonds, equities, futures, and options.
Prepare annual and semi-annual financial statements using GAAP.

Bank accountant vs fund accountant skills

Common bank accountant skills

Reconciliations, 17%
General Ledger, 16%
Financial Statements, 15%
Financial Reports, 5%
Reconcile General Ledger, 5%
Balance Sheet, 5%

Common fund accountant skills

Reconciliations, 12%
Calculation, 5%
Securities, 5%
GAAP, 5%
Accruals, 5%
Journal Entries, 4%