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What is a look back analysis?
how much harder is banking then valuation?
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I started out my career auditing PE funds so I got some exposure to fund accounting.
The good: It does pay better than most industry accounting positions, a lot of funds have really nice benefits/perks including a large bonus and catered lunches, the work usually isn’t too complicated (the worst thing thing you’d probably do is figure out waterfall calculations).
The bad: These jobs are largely only in HCOL cities like NYC for example, you’ll have limited geographic flexibility. It’s extremely niche, your experience won’t translate to other areas of accounting. If you work at a fund admin rather than for a fund, you’ll work crazy hours.
Yeah job titles are usually something like Fund Accountant or Senior Fund Accountant or Fund Accounting Manager
F
You can go for it if you're at a fund. Pay tends to be higher, work doesn't tend to be that interesting, and you don't have the same versatility and broader skillset you'd get outside of financial services, so if you eventually decide you want to get out, it's going to be real hard to find something in another industry with the same pay. That being said, none of the above need to be dealbreakers.
Don't work at an admin. If you have an accounting degree, you're overqualified. Hours suck, work is dull, upward mobility is basically non-existent, and you'll have trouble finding any other job that doesn't suck
No busy season, and less intense than FDD, but a lot of late nights. I started my career at an admin, and multiple nights past 8 in a week were common.
Have to think it's different now with paperless workflows and better remote infrastructure, and it's worth noting that there were lots of single younger guys in the office, but thinking of what it would be like now, even if I worked efficiently during the day, got home at 6, made dinner, but then had to drop everything at 7:15 when the sign-off came through and close up the binder? Fuck that.
I'm sure it's gotten better on that front, but it's such a dead end. The money's good, but it's compensation for your skills not developing while you're there. I spent three years and then left when I managed to get an entry level industry job (at a company where the CFO was a former fund accountant who was willing to give me a chance)