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Hedge Fund Accountant Salary Guide

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Hedge fund accountants earn above-average salaries and enjoy stable job prospects. The U.S. Bureau of Labor Statistics (BLS) categorizes this profession with accountants and auditors. According to the BLS, accountants and auditors earned a median annual salary of $73,560 as of 2020.

Employment growth also tracks in a positive direction. The BLS projects a 7% growth rate for accounting jobs from 2020-2030. Overall, the BLS anticipates 135,000 job openings per year for accountants in that timeframe.

This guide offers an in-depth summary of hedge fund accountant salary trends and the factors affecting them. Read on to learn more.

Crunch the Data: Salary by Education | Salary by Experience | Salary by Location | FAQs

How Much Does a Hedge Fund Accountant Make?

Accountants and Auditors

Median Annual Salary, 2020


$73,560


Source: BLS

The BLS compiles its information by examining salary data from the accounting profession. Other sources consider salary ranges specific to accountants who work for hedge funds. For example, in October 2021, Indeed reported an average base salary of $70,730 for hedge fund accountants working in the United States.

Salary by Education

PayScale data indicates a tight spread in hedge fund accountant salaries by degree level. Experienced professionals with bachelor’s degrees earn salaries comparable to those with advanced degrees. Hedge fund accountants with a specialized master of business administration tend to enjoy a slight premium.

Note that the below averages reflect salaries for the respective groups of degree-holders, not only for hedge fund accountants.

Many accountants begin their careers with a bachelor’s degree and professional licensure. PayScale data suggests that bachelor’s-holders and master’s graduates make comparable salaries. However, master’s students must complete 2-3 years of additional schooling.

Many accountants begin their careers with a bachelor’s degree and professional licensure.

Even so, a master’s degree may add value for hedge fund accountants. For example, some employers prefer candidates with advanced degrees over applicants with bachelor’s-level education.

Salary by Experience

Hedge fund accountant salaries tend to increase with experience up to the midcareer level. After this point, base salaries may decline, but at this point, professionals may earn higher bonuses.

According to PayScale, entry-level fund accountants commonly earn modest bonuses and do not normally receive profit-sharing proceeds. Employers typically include profit-sharing at the midcareer level.

Experienced hedge fund accountants can earn up to $109,000 per year, according to PayScale data as of October 2021. Professionals in this demographic reported bonus and profit-sharing proceeds of up to $39,000 per year.

What are the top entry-level jobs in accounting?

Salary by Location

Multiple location-specific factors influence hedge fund accountants’ salaries. For instance, individuals living in densely populated regions and major metropolitan centers often earn higher salaries due to higher living costs and general labor market conditions.

Expert analysis also suggests that big cities tend to attract the best available talent. Employers in metro areas pay higher wages to secure accounting professionals with advanced skills and degrees from prestigious schools.

The following tables use data from the BLS to review the top-paying U.S. states and cities for accountants. The cited figures apply to all accountants and auditors, including hedge fund accountants.

Top-Paying States for Accountants, 2020

State Number of Accountants Employed Average Annual Salary
District of Columbia 10,050 $110,140
New York 112,360 $101,440
New Jersey 39,060 $96,260
Massachusetts 34,710 $88,830
California 150,050 $88,130
Source: BLS

Top-Paying Metropolitan Areas for Accountants, 2020

Metropolitan Area Number of Accountants Employed Average Annual Salary
Salinas, California 690 $111,680
New York City (includes Newark-Jersey City, New Jersey and adjacent areas of Pennsylvania) 119,910 $105,720
Midland, Texas 1,610 $103,120
San Jose-Sunnyvale-Santa Clara, California 15,360 $102,920
San Francisco-Oakland-Hayward, California 24,510 $101,090
Source: BLS

Where Should I Work as a Hedge Fund Accountant?

Accountants and Auditors

Change in Projected Employment from 2020-2030


+7%


Source: BLS

The BLS groups hedge fund accountants with all accountants and auditors. This sector’s 7% projected job growth rate keeps pace with overall expectations for the U.S. labor market.

The 7% figure equates to 96,000 new jobs for accountants and auditors across the U.S. by 2030. As of September 2021, the BLS projects that approximately 135,000 accounting jobs will open annually from 2020-2030. This is largely due to retiring and changing careers.

As of September 2021, the BLS projects that approximately 135,000 accounting jobs will open annually from 2020-2030.

The BLS also notes that the increased industry globalization may positively affect accountants’ job prospects. Hedge fund managers with international business expertise could benefit as this trend continues.

Best Areas

Earning potential ranks among the top considerations for individuals considering accounting careers. However, candidates should also carefully consider job availability, including the current state of the employment landscape and local growth projections.

In general, opportunity tends to concentrate in densely populated areas. Financial services firms that manage hedge funds are more likely to operate in cities and states with larger populations.

Consider the following figures with these details in mind. They summarize destination-specific employment trends and projections for accountants. Unless otherwise noted, the cited data refers to the BLS’ general “accountants and auditors” job category.

Top-Employing States for Accountants, 2021

Top-Employing States Number of Accountants Employed Average Annual Salary
California 105,050 $88,130
New York 112,360 $101,440
Texas 109,470 $80,170
Florida 73,690 $74,960
Pennsylvania 50,240 $77,810
Source: BLS

States With the Greatest Projected Increase in Employment for Accountants, 2018-2028

State Percent Projected Change, 2018-28 Average Annual Openings
Greatest Projected Percentage Increase
Georgia 21.0% 4,880
Colorado 20% 5,000
Texas 18.8% 15,480
Nevada 18.1% 1,130
Washington 16.7% 5,060
Most Projected Average Annual Openings
California 7.7% 17,650
Texas 18.8% 15,480
New York 12.7% 13,550
Florida 13.9% 9,040
Pennsylvania 6% 5,870
Source: Projections Central

Top-Employing Metropolitan Areas for Accountants, 2021

Metropolitan Area Number of Accountants Employed Average Annual Salary
New York City (includes Newark-Jersey City, New Jersey and adjacent areas of Pennsylvania) 119,910 $105,720
Los Angeles-Long Beach-Anaheim, California 61,740 $83,660
Chicago, Illinois (includes adjacent areas and suburbs in Indiana and Wisconsin) 42,080 $78,640
Washington, D.C. (includes adjacent areas and suburbs in Virginia, West Virginia, and Maryland) 41,890 $98,030
Dallas-Fort Worth-Arlington, Texas 37,040 $83,850
Source: BLS
Discover the best cities for accountants

Best Industries

Investment firms, which manage hedge funds, belong to the broader financial services industry. However, hedge fund accountants have highly transferable skills that apply across many industries. New professionals can familiarize themselves with other leading employment sectors to build a complete picture of their career prospects.

The information below summarizes the top-paying industries for accountants, along with the industries that employ the most accountants. This BLS data applies to the agency’s general “accountants and auditors” category.

Top-Paying Industries for Accountants, 2021

Top-Paying Industries Number of Accountants Employed Average Annual Salary
Computer and Peripheral Equipment Manufacturing 3,910 $112,680
Federal Executive Branch 22,160 $105,980
School and Employee Bus Transportation 120 $105,060
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 31,450 $102,020
Other Information Services 4,660 $99,810
Source: BLS

Employment by Industry for Accountants, 2021

Industries With Highest Employment Number of Accountants Employed Average Annual Salary
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 339,020 $85,050
Management of Companies and Enterprises 97,250 $82,770
Local Government 46,060 $71,420
State Government 41,780 $68,460
Real Estate 36,180 $78,370
Source: BLS

Questions About a Hedge Fund Accountant Salary

  • What is an entry-level hedge fund accountant's salary?

    According to PayScale, an entry-level hedge fund accountant salary averaged $50,120 per year as of October 2021. Bonuses can deliver up to $8,000 in additional annual earnings.

  • What is a senior hedge fund accountant's salary?

    A senior hedge fund accountant’s salary averages about $66,060 per year, according to October 2021 PayScale data. Senior accounting professionals can also earn significant bonuses and profit-sharing income. These sources of income can combine to push their compensation to $109,000 per year.

  • Where is the best state to work as a hedge fund accountant?

    The top-paying U.S. destinations for accountants in 2020 were the District of Columbia, New York, New Jersey, and Massachusetts. Job growth projections for 2018-2028 signal particularly strong outlooks in Georgia, Colorado, Texas, and Nevada.

  • What is the best industry to work in as a hedge fund accountant?

    By definition, hedge fund accountants work in the financial services industry. Other leading sources of employment for accountants include enterprise management, state and local government, and real estate.


Featured Image: Westend61 / Getty Images

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