Fund Accountant Salary
Fund Accountants in the United States can expect wages of $49K per year on average. With some bonuses approaching $11K and certain profit sharing proceeds approaching $7K, overall incomes of Fund Accountants spread between $38K and $80K depending on individual performance. Compensation for this group is mainly affected by geographic location, but the company and years of experience are influential factors as well. Most people who answered the questionnaire are men; 62 percent of Fund Accountants are male. Job satisfaction is considered about average by most people in this profession. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. This snapshot results from replies to PayScale's salary survey.
|Salary||$37,912 - $74,877|
|Bonus||$511 - $10,766|
|Profit Sharing||$0.00 - $7,147|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$37,803 - $80,398|
|Hourly Rate||$14.95 - $24.89|
|Overtime||$21.22 - $37.78|
|Bonus||$511 - $10,766|
|Profit Sharing||$0.00 - $7,147|
|Total Pay (||$37,803 - $80,398|
Job Description for Fund Accountant
Fund accountants are responsible for keeping detailed financial records for nonprofits and government agencies. First and foremost, they must maintain the integrity of this type of data first and foremost. They must account for how the company is using its funds, which may include producing separate reports to be produced for individual funds. The accountant maintains a chart of accounts to accurately report the expenditures from each ledger. Proper documentation is mandatory for the accountants to determine if the funds are being used in the best possible manner. They also assist these companies in deciding the best way to use available revenue and stay within an appropriate expense budget. They generally serve as the middle man between the investor and the business.Read More...
Most employers require fund accountants to have a bachelor's or master's degree in accounting, business administration, or a similar field. Additionally, many employers request that their candidates be certified public accountants (CPA); this is necessary for accountants working with the Securities and Exchange Commission. It's imperative that any fund accountants have proficient knowledge of basic computer programs, including relevant accounting software. Fund accountants usually work in an office, but they may be required to travel to different offices within their company. Further, the candidate may need to be able to lift approximately 15 to 20 pounds, as boxes or files of records may be heavy.
Fund Accountant Tasks
- Analyze financial data in order to prepare financial reports in compliance with applicable regulations.
- Maintain records of stewardship of financial resources received and expended and other financial activities.
- Utilize accounting principles to differentiate special purpose funds from a general fund.
Common Career Paths for Fund Accountant
Fund Accountants do not often transition into Senior Financial Analyst roles. The role averages $76K per year. Fund Accountants typically move into roles as Financial Analysts or Senior Accountants, and those positions pay $6K more and $10K more, respectively.
Popular Employer Salaries for Fund Accountant
Well-known firms with a reputation for hiring numerous Fund Accountants include SS&C Technologies, Inc., State Street Bank, The Bank of New York Mellon Corporation (BNY Mellon), State Street Corporation, and The Northern Trust Company. Those at J.P. Morgan Chase & Co. (JPMCC) can expect to make the most, with the company offering a median salary of $53K. Fund Accountants can also look forward to large paychecks at UMB Fund Services ($49K), The Northern Trust Company ($45K), and SS&C Technologies, Inc. ($43K).
Offering a median of only $33K, State Street Bank pays the least. Moreover, the compensation range seems pretty narrow; employees make $28K on the lower end and $60K on the higher end. Also approaching the lower end are State Street Corporation at $41K, SEI Investments Company at $43K, and The Bank of New York Mellon Corporation (BNY Mellon) at $43K.
Popular Skills for Fund Accountant
Survey takers who work as Fund Accountants typically report just a few professional skills. Most notably, skills in Financial Reporting, Financial Analysis, General Ledger Accounting, and Microsoft Excel are correlated to pay that is above average. Skills that seem to negatively impact pay include Accounting. Most people familiar with Financial Analysis also know Financial Reporting and Accounting.
Pay by Experience Level for Fund Accountant
Pay by Experience for a Fund Accountant has a positive trend. An entry-level Fund Accountant with less than 5 years of experience can expect to earn an average total compensation of $47,000 based on 293 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Fund Accountant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $67,000 based on 57 salaries. An experienced Fund Accountant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $61,000 based on 32 salaries. A Fund Accountant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $59,000 based on 9 salaries.
Pay Difference by Location
With a pay rate for Fund Accountants that is 47 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Fund Accountants will also find cushy salaries in Los Angeles (+42 percent), New York (+34 percent), Seattle (+18 percent), and Dallas (+10 percent). Compared to the national average, Evansville Fund Accountants have considerably lower salaries, 23 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Not at the bottom but still paying below the median are employers in Sacramento and Wilmington (22 percent lower and 18 percent lower, respectively).
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Key Stats for Fund Accountant
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