Tax consultant vs fund accountant

The differences between tax consultants and fund accountants can be seen in a few details. Each job has different responsibilities and duties. Additionally, a tax consultant has an average salary of $66,737, which is higher than the $60,203 average annual salary of a fund accountant.

The top three skills for a tax consultant include CPA, tax planning and tax issues. The most important skills for a fund accountant are reconciliations, calculation, and securities.

Tax consultant vs fund accountant overview

	Tax Consultant	Fund Accountant
Yearly salary	$66,737	$60,203
Hourly rate	$32.09	$28.94
Growth rate	6%	6%
Number of jobs	39,379	35,702
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 84%
Average age	47	44
Years of experience	-	4

What does a tax consultant do?

Tax consultants are experts in providing commercially centered tax advice and tax services to wide-ranging clients who function in all sectors of the economy. The work they do involves devising tax-efficient strategies for international and domestic-based clients in various business situations, including takeovers, company merges, and corporate reconstructions. They work continually to help clients ensure that the best business decisions are met. They also monitor and get ahead of possible changes concerning tax legislation and responding fast with guidance specific to their clients' tax requirements.

What does a fund accountant do?

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 consultant vs fund accountant salary

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

	Tax Consultant	Fund Accountant
Average salary	$66,737	$60,203
Salary range	Between $47,000 And $93,000	Between $44,000 And $80,000
Highest paying City	Hartford, CT	New York, NY
Highest paying state	Rhode Island	New York
Best paying company	Cargill	Warburg Pincus
Best paying industry	Finance	Finance

Differences between tax consultant and fund accountant education

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

	Tax Consultant	Fund Accountant
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 84%
Most common major	Accounting	Accounting
Most common college	University of Southern California	University of Pennsylvania

Tax consultant vs fund accountant demographics

Here are the differences between tax consultants' and fund accountants' demographics:

	Tax Consultant	Fund Accountant
Average age	47	44
Gender ratio	Male, 52.7% Female, 47.3%	Male, 61.5% Female, 38.5%
Race ratio	Black or African American, 10.5% Unknown, 4.1% Hispanic or Latino, 17.0% Asian, 10.4% White, 57.6% American Indian and Alaska Native, 0.6%	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	8%	7%

Differences between tax consultant and fund accountant duties and responsibilities

Tax consultant example responsibilities.

Manage the training and use of new FactSet products and enhancements with various client bases including portfolio management and performance teams.
Maintain and generate the process of structuring and conducting business transactions to ensure that GAAP procedures are followed.
Develop, maintain, and ensure accounting policies and procedures are in accordance with company member agreements & GAAP.
Prepare returns and consult on tax and accounting issues for own clients as well as contract work for other CPA firms.
Work closely with CPA on data verification and documentations processing.
Save customers thousands of dollars on Mexico-U.S. cross-border taxation advisory.

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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.

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Tax consultant vs fund accountant skills

Common tax consultant skills

CPA, 13%
Tax Planning, 7%
Tax Issues, 6%
Taxation, 6%
Tax Research, 5%
Income Tax Returns, 5%

Common fund accountant skills

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

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Updated January 8, 2025

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