Accounting

Currently working as a senior audit associate at a large regional firm in nyc. Just received an offer for a fund accounting position at a mid size nyc hedge fund. Pay is significantly better- should

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Posting as :
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I don’t think the pay is high enough to make the leap for myself, nor would I want to do fund accounting.

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Offer seems fairly mediocre, not great not terrible but a few things to consider - 1. If you're making 73 already and a top performer at your firm your new base post raise will probably be around 80-85 anyway. 2. That 25% bonus likely depends on how the fund performs... If performance is down there's a chance there is no bonus or a significantly smaller bonus, and that's really the gamble you take when you go to a fund. 3. Being able to say you worked at a hedge fund in any capacity is a great thing for your resume, but understand that upward mobility is limited. Most people end up moving from fund to fund to try and get that vaunted controller (and hopefully one day CFO) position. 4. Compared to annual B4 raises the typical raise in salary at a hedge fund is significantly lower. 5. The work can be just as mundane as PA. Also ne aware that most of your coworkers are typically older than you - that's one of the biggest complaint I've heard from friends who left PA early, their coworkers were nice but just not people theyd really hang out with given age difference (this wouldn't matter to me, but I'm throwing it out there as it's something to think about)

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@manager1 really appreciate the thorough response. This position is with a credit shop so appreciate the heads up. From my understanding it’s mostly accounting with ops being a minority aspect of the role.

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I accept the offer? If anyone else made the transition from public to a fund accountant would love to hear about your experience/transition. Thanks in advance!

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How much u making

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Now 73. The offers for 85 with the opportunity to make 25% bonus

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25% bonus tho

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Guess if money is important , you gotta ask yourself if you feel confident to get that 25% bonus. Maybe it’s the same there as in some b4, where you don’t ever get the bonus you expect. Lol. Regardless I also agree that the pay isn’t high enough. I would think as a senior in nyc you could get damn near 100k base

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Appreciate the feedback- the money is pretty important for me as well as a better work life balance. My main concern is upward mobility as well as potential exit opportunities.

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Are you going through a recruiter? Because one thing they probably won't tell you is that funds are ALWAYS hiring - so dont feel like this is a once in a lifetime opportunity. Work life balance is typically better, maybe not initially as you get up to speed on everything and need to prove yourself but within 1-2 years definitely... Unless you're at a credit shop where most people tend to be miserable (but you do learn a lot more!) all the time. Also is the role dual role accounting and ops or just accounting? If theres some ops involved that'll make the skills more transferable to other non-Fund private sector jobs and again provide you with experience / talking points for future interviews if you wish to move out of the fund space... At your level if you hit on that bonus you'll make a lot more than your typical PA staff - it's all just a risk-reward game. Best of luck though, and if you have any other questions shoot as I know many people in industry.

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