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.
There is more than meets the eye when it comes to being a fund accountant. For example, did you know that they make an average of $32.88 an hour? That's $68,380 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 90,700 job opportunities across the U.S.
There are certain skills that many fund accountants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and detail oriented.
When it comes to the most important skills required to be a fund accountant, we found that a lot of resumes listed 11.8% of fund accountants included financial statements, while 7.2% of resumes included general ledger accounts, and 6.8% of resumes included hedge funds. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the fund accountant job title. But what industry to start with? Most fund accountants actually find jobs in the finance and professional industries.
If you're interested in becoming a fund accountant, one of the first things to consider is how much education you need. We've determined that 84.3% of fund accountants have a bachelor's degree. In terms of higher education levels, we found that 10.8% of fund accountants have master's degrees. Even though most fund accountants have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a fund accountant. When we researched the most common majors for a fund accountant, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on fund accountant resumes include associate degree degrees or diploma degrees.
You may find that experience in other jobs will help you become a fund accountant. In fact, many fund accountant jobs require experience in a role such as accountant. Meanwhile, many fund accountants also have previous career experience in roles such as staff accountant or internship.