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The differences between tax 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 tax accountant and a fund accountant. Additionally, a tax accountant has an average salary of $62,142, which is higher than the $60,203 average annual salary of a fund accountant.
The top three skills for a tax accountant include CPA, tax audits and income tax returns. The most important skills for a fund accountant are reconciliations, calculation, and securities.
| Tax Accountant | Fund Accountant | |
| Yearly salary | $62,142 | $60,203 |
| Hourly rate | $29.88 | $28.94 |
| Growth rate | 6% | 6% |
| Number of jobs | 57,919 | 35,702 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 84% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A tax accountant is an individual who works with clients to produce tax return documents that follow tax laws and regulations while keeping them updated on their return information. Tax accountants must determine tax strategies for their clients that may minimize or eliminate tax payments while arranging audits with taxation authorities. They prepare tax documents for different clients, including private companies, non-profit organizations, and private individuals. Tax accountants are also required to obtain a bachelor's degree in accounting and should understand business concepts.
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.
Tax accountants and fund accountants have different pay scales, as shown below.
| Tax Accountant | Fund Accountant | |
| Average salary | $62,142 | $60,203 |
| Salary range | Between $45,000 And $83,000 | Between $44,000 And $80,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Pacific Investment Management Company LLC | Warburg Pincus |
| Best paying industry | Finance | Finance |
There are a few differences between a tax accountant and a fund accountant in terms of educational background:
| Tax 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 tax accountants' and fund accountants' demographics:
| Tax Accountant | Fund Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 61.5% Female, 38.5% |
| Race ratio | Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.5% White, 61.4% 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% |