Fund Accounting Careers: What You Should Know
Why Work in Fund Accounting?
The Fund Accounting industry is not an uncertain one in 2017. This industry is growing rapidly due to investors becoming more and more confident in both the Irish domiciled and non-Irish domiciled markets. The market is ripe for Fund Accounting professionals and opportunities are plentiful with permanency becoming a common trend for most Fund Accountant positions. Of recent, many Fund Administration centres have announced growth plans in addition to the 13,000 plus professionals that currently work in this industry in Ireland.
How Much do Fund Accountants Earn?
Fund Accountants can typically earn anything from €23,000 – €50,000 along with bonuses and other subsidized commodities.
How to Become a Fund Accountant
Graduates of Commerce and Business degrees will usually look at a career in Fund Accounting due to its clearly defined path and opportunities. For graduates within this discipline, it is often recommended to try your hand at an internship within a company focused on Fund Administration roles so that they may get a feel for what is the right path for them.
It is important to choose a company that will add to your experience long term. Some fund administration companies will purely focus on hedge funds, while other fund administration companies will work on mutual funds and private equity funds. It can be tricky to move between areas so making the right choice for you is essential.
The advantage of a career in this industry is that progression comes quickly. Within 2 to 3 years of gaining good solid Fund Accounting experience, Fund Accountants will often progress to a senior post before moving up the rankings to management.