Financial Quantitative Analysts: Career Profile
Develop quantitative techniques to inform securities investing, equities investing, pricing, or valuation of financial instruments. Develop mathematical or statistical models for risk management, asset optimization, pricing, or relative value analysis.
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What Do Financial Quantitative Analysts Take On?
The core tasks performed by financial quantitative analysts include:
- Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
- Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
- Interpret results of financial analysis procedures.
- Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
- Define or recommend model specifications or data collection methods.
- Produce written summary reports of financial research results.
- Maintain or modify all financial analytic models in use.
- Provide application or analytical support to researchers or traders on issues such as valuations or data.
Key Skills and Knowledge
Successful financial quantitative analysts draw on a mix of skills and domain knowledge.
Most Important Skills
The abilities that matter most in this role, rated on an importance scale of 0 to 5:
Core Knowledge
Types of Financial Quantitative Analysts Jobs
People in this occupation may also be known by titles such as:
- Analyst
- Data Analyst
- Equity Analyst
- Equity Structurer
- Finance Analyst
- Financial Analyst
- Financial Engineer
- Financial Quantitative Analyst
Job Outlook
There are about 304,801 financial quantitative analysts working in the United States today. This occupation is expected to grow by +10.7% over the projection horizon.
How Much Do Financial Quantitative Analysts Make?
| Statistic | Value |
|---|---|
| Annual median | $126,371 |
| Hourly median | $60.76 |
| 10th percentile | $69,608 |
| 25th percentile | $97,990 |
| 75th percentile | $154,753 |
| 90th percentile | $183,135 |
Pay can vary substantially based on experience, location, and industry.
Pay by State
| State | Annual median salary |
|---|---|
| District of Columbia | $123,450 |
| New York | $122,510 |
| Maryland | $102,500 |
| New Jersey | $92,820 |
| Ohio | $90,170 |
| Rhode Island | $88,500 |
| Indiana | $87,760 |
| Colorado | $87,270 |
| West Virginia | $86,940 |
| Massachusetts | $85,950 |
| California | $85,850 |
| Virginia | $85,670 |
| Pennsylvania | $84,700 |
| Maine | $83,780 |
| Minnesota | $82,260 |
| North Carolina | $82,240 |
| Michigan | $81,470 |
| Illinois | $81,190 |
| Delaware | $79,590 |
| Oregon | $79,570 |
| Arizona | $78,910 |
| New Hampshire | $78,650 |
| Alabama | $78,370 |
| Connecticut | $78,000 |
| Utah | $77,940 |
| North Dakota | $77,380 |
| Hawaii | $76,740 |
| Iowa | $75,770 |
| Georgia | $75,760 |
| Missouri | $75,690 |
| Wyoming | $75,580 |
| Washington | $75,560 |
| New Mexico | $75,550 |
| South Carolina | $75,380 |
| Mississippi | $74,960 |
| Alaska | $74,510 |
| Oklahoma | $72,920 |
| Montana | $72,600 |
| Texas | $72,400 |
| Nevada | $71,480 |
| Vermont | $70,460 |
| Idaho | $68,920 |
| Nebraska | $66,580 |
| Tennessee | $65,960 |
| Wisconsin | $63,700 |
| Florida | $63,060 |
| Kentucky | $62,500 |
| Louisiana | $53,360 |
| Kansas | $50,660 |
| Arkansas | $46,380 |
| Puerto Rico | $38,480 |
Where Financial Quantitative Analysts Earn the Most
Compensation for financial quantitative analysts vary by region. Top regions by median wage:
| Region | Median annual wage | Share of U.S. jobs | Location quotient |
|---|---|---|---|
| Middle Atlantic | $103,528 | 19.1% | 1.87 |
| Rocky Mountains | $83,365 | 4.9% | 1.50 |
| New England | $83,287 | 4.5% | 0.98 |
| Far Western US | $83,064 | 16.5% | 1.02 |
| Great Lakes | $82,490 | 13.2% | 1.06 |
| Southwest | $73,062 | 11.6% | 0.99 |
| Plains States | $71,702 | 5.4% | 0.97 |
| Southeast | $71,533 | 24.1% | 1.18 |
Where the Jobs Cluster
| Metro area | State | Median annual wage | Employment |
|---|---|---|---|
| Lexington Park, MD | MD | $129,650 | 730 |
| San Jose-Sunnyvale-Santa Clara, CA | CA | $119,060 | 1,250 |
| St. George, UT | UT | $118,950 | 30 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | DC | $112,420 | 6,540 |
| New York-Newark-Jersey City, NY-NJ | NY | $108,970 | 8,690 |
| Dayton-Kettering-Beavercreek, OH | OH | $108,200 | 990 |
| San Francisco-Oakland-Fremont, CA | CA | $108,010 | 2,720 |
| Chambersburg, PA | PA | $105,810 | 40 |
Top Industries Employing Financial Quantitative Analysts
Most financial quantitative analysts are found across these industries:
| Industry | Employment | Median annual wage |
|---|---|---|
| Finance and Insurance | 40,340 | $78,030 |
| Management of Companies and Enterprises | 10,290 | $81,030 |
| Educational Services | 7,640 | $63,750 |
| Professional, Scientific, and Technical Services | 7,510 | $93,690 |
| Health Care and Social Assistance | 7,030 | $64,930 |
| Other Services (except Public Administration) | 5,080 | $52,770 |
| Administrative and Support and Waste Management and Remediation Services | 4,220 | $64,070 |
| Information | 2,700 | $82,900 |
The table below shows some of the most common industries where those employed in this career field work.
Tech Stack
- Data base user interface and query software: Amazon Web Services AWS software (hot technology)
- Data base management system software: Apache Hive (hot technology)
- Object or component oriented development software: C# (hot technology)
- Object or component oriented development software: C++ (hot technology)
- Analytical or scientific software: IBM SPSS Statistics (hot technology)
- Web platform development software: JavaScript (hot technology)
- Operating system software: Linux (hot technology)
- Data base user interface and query software: Microsoft Access (hot technology)
- Development environment software: Microsoft Azure software (hot technology)
- Spreadsheet software: Microsoft Excel (hot technology)
- Office suite software: Microsoft Office software (hot technology)
- Business intelligence and data analysis software: Microsoft Power BI (hot technology)
The Day-to-Day Environment
The work environment for financial quantitative analysts reflects the following characteristics:
- Spend Time Sitting
- Level of Competition
- Telephone Conversations
- Face-to-Face Discussions with Individuals and Within Teams
Getting Started in This Career
Typical financial quantitative analysts positions require a doctoral or professional degree as the typical entry-level education. The role falls in Extensive Preparation Needed (Job Zone 5), signaling the level of preparation typically expected.
Other Careers to Consider
Similar Occupations
- Investment Fund Managers (Primary-Long)
- Management Analysts (Primary-Long)
- Market Research Analysts and Marketing Specialists (Supplemental)
- Credit Analysts (Primary-Long)
- Financial and Investment Analysts (Primary-Short)
- Personal Financial Advisors (Supplemental)
- Financial Risk Specialists (Primary-Short)
- Computer Systems Analysts (Supplemental)
Top Programs to Study For This Career
Future financial quantitative analysts often complete programs in:
Business, Management, Marketing, and Related Support Services
2 programs across 2 majors
Mathematics and Statistics
1 programs across 1 majors
Theology and Religious Vocations
1 programs across 1 majors
Sources
This profile draws on the following authoritative sources:
- U.S. Bureau of Labor Statistics — Occupational Employment and Wage Statistics (OEWS) for employment and wage data by state and industry.
- BLS Employment Projections for total employment and growth forecasts.
- O*NET (Occupational Information Network) for skills, knowledge, tasks, work activities, work context, technology, and education-zone data.
SOC code: 13-2099.01 (Financial Specialists, All Other).
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