I am a big 4 nyc audit associate and recruiters keep telling me to go into fund accounting. The pay, WLB, and career potential seem great, am i missing something or is it a great field? Why would I not leave to it Asap?

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The pay bump early in your career is really solid. A lot of funds have good perks and benefits too (not to be mistaken for fund administrators, those places suck to work at).

The downside is, fund accounting work is extremely niche. You’ll only find fund accounting jobs in a few cities, and they’re all HCOL places. You won’t be able to easily pivot to other areas of accounting since the experience does not translate. The work itself usually is pretty repetitive and not too exciting. You’re also banking on a somewhat new and volatile industry to remain stable enough for an entire career, I think the private investment fund industry could be completely tanked by a change in administration (sort of like how Trump is killing certain industries now).

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Right, but you’ll have nothing to pivot to if the industry tanks

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What do you want to be earning in 5 to ten years? You may get a pay bump now, but what will your annual raises be over the course of the next several years?

Do you want to be in fund accounting forever? If not, is it the best stepping stone to get where you want to be in ten to fifteen years?

Comp is only that high at mega funds. Realistically most CFOs make 500k which is nothing to scoff at but not partner money. With that said it’s def easier to become a fund CFO than partner.

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