what are the job opportunities associated with entry level fund accounting?

LaurenB79

Got a job offer for entry level position for fund accounting but don’t think I should take it. Was interested in stock trading and I asked at the interview was there any opportunity to move into stock trading eventually, but she told me that was unrealistic and that I would need an engineering or maths degree, even though I have a degree in Finance and Accounting.

Also I have CAP 2 exemptions from my masters in accounting and if going down accountancy route I’d prefer to train in practice or a place that offers job advancement. From what i gathered at the interview there were no opportunities for job advancement in this position and it only offers 18-20k.

I know it only entry level and wouldn't mind low wages at the beginning of my career and to build up from there, but I don't think this is possible to build up a career and to advance from this position.

But because of the economic climate I feel I should take this job offer rather than risking being unemployed long term, so just wondering what are the career advancement opportunities from an entry level fund accounting position, if any?

Thanks in advance

Da GOAT

whats the fund accounting pay?

ari101

Will they give you support for FAEs (fees/paid time off) and will it count towards your required experience? (I'm ACCA so not sure how the experience portion of ACA is worked)

Well if you have no other options lined up...

If the answer is positive to either or both of the above I'd definitely take it - the sooner you get qualified the better and then you can always leave for a job with better prospects.

If the answer is no - why not take it anyway? You will be making money getting some basic experience in FS and can always keep looking for something better that will support your career.

If you do have something else similar on offer - ask what support for exams etc. you can get from both options and considering telling them you have two offers and are comparing them!

daheff

Hi LaurenB79

most fund accounting cos will support acc training. You will not get to trade equities from fund accounting. This is a back office function (not even middle office)

Most front office environments would hire people that are maths/stats graduates and not finance /accounting graduates. So from that point of view it will be difficult to get into trading. There are courses/qualifications that you can do that would significantly make it easier to get into the trading area -namely CFA (and to a lesser extent the Irish Registered Representatives qualificaition & QFA)

IMO its better to start working broadly in the field that you want to work in as soon as possible and the assess your situation from there. Better to have some money in your pocket and decide on a longer term career plan than have no money & no experience. Plus side is that once you have a year in funds it will be easier to move to another funds job with more money!

LightningBolt

The CFA is geared more towards analysts/portfolio management. This won't help you get a trading role.

QFA wouldn't be worth your while to get into trading.

There's no possibility of going back to front office. You would have an extremely slim chance of going middle to front office if you were exceptionally talented.

daheff

LightningBolt wrote: »

The CFA is geared more towards analysts/portfolio management. This won't help you get a trading role.

QFA wouldn't be worth your while to get into trading.

CFA will give you the necessary maths skills to go for trading roles. QFA would get you a qualification that would allow you to trade on behalf (execution only) of clients for somebody like Davys, Bloxham or NCB - but not in a bigger co like BNP

LaurenB79

thank you all for your replies. Just to let you know I didn't take the job offer. Have two interviews this week for accounting practices.

Lightning Bolt and Daheff thanks for the information.Will look further into CFA and QFA qualifications now I know they exist - thanks