Pls. advice: Fund accountant entry or graduate retail banking programme? :)

karithx

Hi All,

I am graduate with 2.1 Hon's Degree in Financial Services. have little of experience in d industry, and currently got offered 2 positions/both at same time. One is 2years fixed term contract in retail banking for d graduate role, would be studying for qfa. 2cd is fund accountant entry level (permanent) for one of d companies in ifsc/ studying optional for acca or cfa. My concerns:

- in retail bank they offer more training in credit and branch, however d bank is 99% owned by govt. ,
- the second company, however had lower requirements for grades/ no test, plus there seems to be many same type of positions advertised.

I will work hard, dont mind d hours, however want a good experience, that i dont have 2 worry about new job after 1 year.

-The pay is higher on grad programme around 4k more than FA.

However d culture of d FA company is nice,but this art. worries me a bit
http://www.wallstreetoasis.com/forums/fund-accounting

If anyone have experience in the above roles, please help as I have 2 make quick decision.
Thanks 4 all advices

Toasterspark

I suppose one of the things that I would be thinking about in the current climate is job security. It seems that the Fund Accounting role, while you'll be paid less, allows for the study of accountancy exams. That suggests that they are looking to invest in your career and your future in the company. It's also permanent as opposed to fixed-term which sounds better.

I suppose it depends on your personal preference, and what job you'd find the most interesting/stimulating. Good luck!

MrMatisse

Fund accounting will rot your brain and you can go into it after the banking grad programme anyway.

Imagine being in a massive room packed tightly with loads of people, working potentially odd hours ticking numbers on a vast array of different versions of the same report, all day every day.....

Grad programme all the way.

You can do the accountancy exams yourself anyway.

karithx

To MrMatisse,

Thanks 4 ur help. i am a bit aware of that, done some research. do you have FA experience or do u know someone in this role?

Northern Monkey

I've been working in fund accounting for 10 years and still enjoy it. Starting off it can get a bit repetitive, but once you get a bit of experience it gets a bit more rewarding.

MrMatisse

karithx wrote: »

To MrMatisse,

Thanks 4 ur help. i am a bit aware of that, done some research. do you have FA experience or do u know someone in this role?

Know a lot of people in it. Well done on getting on the grad scheme, great opportunity.

Adrock-aka

Hi, I just read the title of your post. Congrats on the two offers. Do the graduate retail banking program. 100%. Come back to this thread in the future to thank all of us who suggested this!

karithx

Hi Adrock- aka,

Thanks 4 ur message. i am now nearly 90% sure that i go for d graduate programme.so let u know later

Mr. Loverman

Friend of mine is a fund accountant. He has no business or finance background (nor does he have a college qualification).

He says it is boring/easy/repetitive but the pay is good and it is stable.

No harm doing it for a year or two for the experience, but I don't think you would want to do it long term if you are ambitious.

Adrock-aka

karithx, that's good news :P A structured graduate program will serve you well straight out of college. Best of luck!

JaneyMacker

FA. That brings back memories. I did this for a year and its mind numbing stuff.
Glad I got off the hamster wheel after a year though.