An entry-level fund accountant supporting pooled investment vehicle accounting — mutual funds, hedge funds, private equity, or other fund structures. Handles routine NAV calculation support, position pricing, investor accounting, and operational work under senior direction.
Most days tend to revolve around NAV calculation support, position pricing reviews, investor capital tracking, and the steady reporting work that supports investor and regulator deliverables. You'll often reconcile positions with custodians or prime brokers under senior direction, support NAV calculation at end of period, allocate performance and management fees, and produce investor statements. Period-end drives the rhythm.
The variance between fund types is real — mutual fund junior accountants work in daily NAV environments under 1940 Act regulations; hedge fund juniors handle more complex strategies and side pockets; private equity juniors deal with capital calls, distributions, and carried interest waterfalls; fund administrators serve many client funds while in-house teams focus on one or a few. CPA candidacy anchors most career paths.
People who tend to thrive here are detail-oriented, comfortable with the complexity of investment-specific accounting, and patient with the multi-party coordination (custodian, administrator, auditor, investor reporting) that fund accounting requires. The work tends to offer steady demand and clear progression toward senior fund accountant, controller, or operational manager seats, with the trade-off being the niche, technical specialty — but the depth becomes a meaningful asset in a growing alternative investments industry.
Where this role sits in the broader career landscape — and where it can take you.
Roles like this one sit within a broader occupational category. The numbers below reflect that full landscape — helpful for context, but your specific experience will depend on level, specialty, and where you work.
An entry-level fund accountant supporting pooled investment vehicle accounting — mutual funds, hedge funds, private equity, or other fund structures. Handles routine NAV calculation support, position pricing, investor accounting, and operational work under senior direction.
Median pay for a Junior Fund Accountant is about $82K nationally, with the field ranging roughly from $53K to $141K depending on experience, employer, and metro (BLS).
Core skills for this role include Reading Comprehension, Speaking, Critical Thinking, Active Listening, and Writing.
Employment in this field is projected to grow about 4.6% through 2034, with roughly 1.4 million people working in it today (BLS).
Closely related roles include Fund Accountant, Compliance Coordinator, and Revenue Audit Clerk.
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