How To Become A Fund Accountant: What It Is and Career Path

What is a fund accountant and how to become one

Updated January 8, 2025

4 min read

Quoted Expert

Hollis Skaife Ph.D.

Just like this name stipulates, a Fund Accountant is responsible for providing accounting for an investment portfolio. Some of these investments include securities, real estate in an investment fund, e.g., mutual fund or hedge fund. Fund accountant is tasked with the responsibility of preparing timely values, accurate, and fund accounting output. We all know that accounting requires strong attention, so extreme focus is needed. But for this particular job, you need more than just strong attention.

Some of the skills needed for this include analytical skills, which are needed in conducting cash flow analysis, ability to reconcile assets/cash balances, ability to review transactions for accuracy, knowledge of investment products and trading of financial instruments, strong understanding of legislative policy and regulations in the financial sector.

Indeed, you need some academic qualifications to fit into this job. First, you have to understand that because accounting is a very caring profession, you need more than just bachelor's and master's degrees to scale through. Nevertheless, you still need a Bachelor's or Master's degree in Accounting, Economics, or Finance. But then, you will also be needing a certified public accountant (CPA), ACCA, CIMA, or ACA certificate to give you an edge. As for the salary of a Fund Accountant, it ranges from $45,000 and $62,000 per annum, depending on their experience.

What general advice would you give to a Fund Accountant?

Hollis Skaife Ph.D.

Professor of Accounting, UC-Davis

We are fortunate that the vast majority of accounting firms are honoring their employment offers, so our Master's of Professional Accountancy (MPAc) students will have jobs upon graduation. But the start date for many has been delayed. In the past, MPAc graduates juggled starting their jobs and studying for the CPA exam. With the delayed start date, it makes sense that MPAc graduates will use the time to study and successfully complete the CPA exam, so when they do report to work they will be better prepared to focus on their clients.

ScoreFund AccountantUS Average

Salary

4.7

Avg. Salary $60,203

Avg. Salary $59,228

Stability Level

5.4

Growth Rate 6%

Growth Rate 0.3%

Diversity

6.1

Race

American Indian and Alaska Native 0.45%

Asian 18.39%

Black or African American 7.60%

Hispanic or Latino 9.90%

Unknown 3.91%

White 59.75%

Gender

female 38.47%

male 61.53%

Age - 43

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 43

Stress Level

5.4

Stress level is manageable

7.1 - high

Complexity Level

8.3

Complexity Level is challenging

7 - challenging

Work Life Balance

6.7

Work Life balance is good

6.4 - fair

Key steps to become a fund accountant

Explore fund accountant education requirements

Most common fund accountant degrees

Bachelor's

84.3 %

Master's

10.8 %

Associate

3.3 %

Start to develop specific fund accountant skills

Skills	Percentages
Reconciliations	11.80%
Calculation	5.05%
Securities	4.93%
GAAP	4.83%
Accruals	4.75%

Complete relevant fund accountant training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New fund accountants learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a fund accountant based on U.S. Bureau of Labor Statistics data and data from real fund accountant resumes.

Gain additional fund accountant certifications

Fund accountant certifications can show employers you have a baseline of knowledge expected for the position. Certifications can also make you a more competitive candidate. Even if employers don't require a specific fund accountant certification, having one may help you stand out relative to other applicants.

The most common certifications for fund accountants include Certified Public Accountant (CPA) and Certified Management Accountant (CMA).

More About Certifications

Research fund accountant duties and 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.

Get fund accountant experience

Generally, it takes 2-4 years to become a fund accountant. The most common roles before becoming a fund accountant include accountant, staff accountant team lead and internship.

Prepare your fund accountant resume

When your background is strong enough, you can start writing your fund accountant resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a fund accountant resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose From 10+ Customizable Fund Accountant Resume templates

Build a professional Fund Accountant resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Fund Accountant resume.