fund accounting ?career?

steo123

hi

one of me mates is wrking in fund accounting 2 yrs exp in financeand on 33.5k

good money

he hasno acca qualifications just a business degree in ucc


why is the money so good in this industry is it really boring?

does the money get better with time without exams?

wat salry could i expect after say 5 years in fnds/10 years?ie what do team leadersearn in fund accountancy

dunkamania

money is so good cos most ppl cant stand doing it more than a year

steo123

cant be that bad!

way worse jobs out there

mikemac

I've done it. I promised I'd quit after a year and I left on exactly one year after my start date. I started with 18 people and by the one year anniversary 50% were gone.

33.5k is decent money after two years but tbh it's not interesting or even leads to that many opportunities to finance. Well it's good for people pursuing accountany exams but if you want to move into another area of finance, it's not great experience.

I'm amazed how starting salaries for graduates keep rising every year

steo123

what are my options in the "other" areas of finance


what else is there ou there?

BizAngel

Your options are (1) Practice or (2) Industry (3) Shared Services

Practice will give you good varied experience especially if you join a small to medium sized practice. Some people make a career out of it but most use it as a training ground while they are passing their exams. Money isn't great.

Industry can give you good experience but and is probably the most interesting of the options. Money is better than practice. You will also get commercial exposure which is considered to be valuable.

Alot of the big multinationals have centralised their European accounting functions in Ireland. It is a little similar to fund accounting but better experience. I think it is a good training ground but 2 years would be enough.

Avoid fund accounting if you can.

I hope this helps

smcgiff

After doing a business degree with UCC, two years on the job experience and €33.5 is considered good money?

Newaglish

smcgiff wrote: »

After doing a business degree with UCC, two years on the job experience and €33.5 is considered good money?

That's actually not great - I work in practice and am on that after nearly 1 year.

33.5k is good if you have a crappy degree though (ie. the types that end up in fund accounting) [/generalisation]

eggie

You should expect to gain circa 10k per year in salary in fund accounting, if you apply yourself.

After 2 years in funds i was on 45k plus bonuses. I'd expect the salary after 5 years, approx 70k+, 10 years 100k+. Obviously they may vary a little from company to company.

Did i ever want to do this all of my career? no. I always intended to move into valuations, quant or something more middle to front office when i was close to finishing CFA's.

Funds are a fine if you are looking for a career revolving around the markets and their securities, you will get a grasp of most products, types of funds, etc. which you can use as a background for other careers, this will take up to 2 years to master, initially its a bit mumbo jumbo if you have no experience but not rocket science by any means. At the higher levels its mostly an accounting type job, financials and that - which bores me, i prefer the derivatives side of things but thats just my preference.

Pretty most all accounting jobs are static and boring, this account, that account etc, so my opinion was if this industry pays more for doing technically the same thing then i'll go for the extra cash.

Just my opinion, i'm sure there are people who enjoy the areas i dont and hate the areas i enjoy. If you dont like it you can change roles.

RoryW

avoid
boring
career suicide

steo123

a lotof anti fund /c vibe goin on here must say..........

is it that bad??????????

which is the most do able a/c qualification?acca?cima??????/cfa

eggie

Ste, everyone going into positions from college have one form of degree or another, they all converge to a certain extent. Its on the job when you perform or realise what you really enjoy or dislike.

As far as post college quals are concerned, the majority of the accounting bodies cover the same ground. There is one differential here though. If you want to work in an industry where you are dealing with financial markets, the CFA qualification is by far the most appropriate and worth while.

I'm not knocking ACCA, CIMA, etc, it takes hard work and dedication to achieve, and a very good qual as they all are, its basically what you enjoy working at .