Pros and cons of working in fund accounting?
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How do you find what job you’re passionate about
Third year associate salary ranges for NY?
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Pros:
If you are efficient, you could have a nice WLb. I have been doing this for almost six years (worked for 2 different fund admins) and RARELY had to work more than 8 hours a day even during audit and quarter ends.
Pay is good depends how skilled you are and how less replaceable you are. I make more than a manager in any big 4 in the US and work probably half the hours they work.
Easy to move to direct fund.
Cons: if you end up with a demanding client and shitty team, you will not like it and probably won’t last.
I am not a CPA and you don’t really need one to be a manager, director or even managing director. Most of my colleagues are not CPAs.
Pro - money
Con - the people
Drone like work at admins though. Best gigs will be at in house roles without full shadow books . Then it’s just review and managing vs in the grind. Been there done that. A lot of fund accounting should be automated imo were it not for the convoluted LPAs. If you want to be closer to the business itself and not the investments, then go for a management company role. If you want to be close to investments, go to direct funds or small shops. If you want to be a drone processing cash and entries and wedged into client service , go to a fund admin. I would avoid fund of funds work if you’re itching for something stimulating.
Great hours
Yes it’s unfortunate 😢
Most of the pay from fund accounting is sitting in equity. As long as you have a solid finance team, the work isn’t too bad
Sure
How are the exit opportunities? Is this a career limiting move?
But what could be other exit opportunities?
At a fund or a fund admin?
The cons - it could pay better. I feel like I'm being overworked for the salary I get sometimes. The pros -I feel like there are so many transferrable skills that I have from this job.
I used to work in tax at Deloitte (PE clients) then move to fund accounting. I would say the pay is competitive and the work is much less (if you know what you’re doing), it will be a learning curve and you may take little more time at the beginning but then you will eventually get it. The works itself is not hard.
Sure
Money
You do FA at Apollo?
It’s a cool job. I’m at Cerberus and enjoying it. Big learning curve tho
How long did it take you to get used to everything?
It’s not going to exist in the future.
It’s gonna take sometime but yes I agree
No one is talking about the fact that the only exits you get are other fund accounting roles?
You’re saying I’m not stuck with funds if I work at one? That hasn’t been my experience.
F