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The differences between project 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 project accountant and a fund accountant. Additionally, a project accountant has an average salary of $60,467, which is higher than the $60,203 average annual salary of a fund accountant.
The top three skills for a project accountant include reconciliations, project management and contract terms. The most important skills for a fund accountant are reconciliations, calculation, and securities.
| Project Accountant | Fund Accountant | |
| Yearly salary | $60,467 | $60,203 |
| Hourly rate | $29.07 | $28.94 |
| Growth rate | 6% | 6% |
| Number of jobs | 43,672 | 35,702 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 84% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.
A fund accountant provides accounting for an investment portfolio. The investments needed include commodities, securities, and/or real estate in an investment fund like a hedge fund or mutual fund. The role of fund accountants includes activity capturing and recording. Fund accountants prepare accurate and timely values, distributions, yields, and fund accounting output for review. They manage activities associated with fund accounting and domestic equity transactions. Also, they work alongside supervisors when it comes to budget development.
Project accountants and fund accountants have different pay scales, as shown below.
| Project Accountant | Fund Accountant | |
| Average salary | $60,467 | $60,203 |
| Salary range | Between $46,000 And $79,000 | Between $44,000 And $80,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | Perficient | Warburg Pincus |
| Best paying industry | Professional | Finance |
There are a few differences between a project accountant and a fund accountant in terms of educational background:
| Project 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 |
Here are the differences between project accountants' and fund accountants' demographics:
| Project Accountant | Fund Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 36.8% Female, 63.2% | Male, 61.5% Female, 38.5% |
| Race ratio | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.3% White, 63.5% 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% |