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Financial Quantitative Analyst

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Life As a Financial Quantitative Analyst

Job Description: Develop quantitative financial products used to inform individuals or financial institutions engaged in saving, lending, investing, borrowing, or managing risk. Investigate methods for financial analysis to create mathematical models used to develop improved analytical tools or advanced financial investment instruments.

Life As a Financial Quantitative Analyst: What Do They Do?

  • Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
  • Assess the potential impact of climate change on business financial issues, such as damage repairs, insurance costs, or potential disruptions of daily activities.
  • Produce written summary reports of financial research results.
  • Interpret results of financial analysis procedures.
  • Collaborate with product development teams to research, model, validate, or implement quantitative structured solutions for new or expanded markets.
  • Develop solutions to help clients hedge carbon exposure or risk.

Qualities of a Financial Quantitative Analyst

Financial Quantitative Analysts state the following job skills are important in their day-to-day work.

Mathematics: Using mathematics to solve problems.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking: Talking to others to convey information effectively.

  • Applied Research Director
  • Financial Analyst
  • Global Credit Quantitative Analysis Head
  • Quantitative Model Validation Analyst
  • Equity Structurer

What Kind of Financial Quantitative Analyst Job Opportunities Are There?

In 2016, there was an estimated number of 135,900 jobs in the United States for Financial Quantitative Analyst. New jobs are being produced at a rate of 9.6% which is above the national average. The Bureau of Labor Statistics predicts 13,100 new jobs for Financial Quantitative Analyst by 2026. Due to new job openings and attrition, there will be an average of 13,100 job openings in this field each year.

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The states with the most job growth for Financial Quantitative Analyst are Utah, Nevada, and Arizona. Watch out if you plan on working in South Dakota, Maryland, or Alaska. These states have the worst job growth for this type of profession.

How Much Does a Financial Quantitative Analyst Make?

The typical yearly salary for Financial Quantitative Analysts is somewhere between $38,030 and $123,360.

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Financial Quantitative Analysts who work in District of Columbia, Virginia, or Illinois, make the highest salaries.

How much do Financial Quantitative Analysts make in different U.S. states?

State Annual Mean Salary
Alabama $75,170
Alaska $68,040
Arizona $82,200
Arkansas $43,580
California $80,720
Colorado $83,800
Connecticut $77,690
Delaware $80,950
District of Columbia $107,760
Florida $67,520
Georgia $85,610
Idaho $56,440
Illinois $93,200
Indiana $66,590
Iowa $69,480
Kansas $55,300
Kentucky $57,030
Louisiana $61,170
Maine $65,430
Maryland $77,440
Massachusetts $88,370
Michigan $69,480
Minnesota $74,190
Mississippi $63,650
Missouri $74,050
Montana $67,820
Nebraska $79,250
Nevada $58,150
New Hampshire $77,670
New Jersey $81,660
New Mexico $61,940
New York $96,480
North Carolina $76,050
North Dakota $77,400
Ohio $78,960
Oklahoma $72,520
Oregon $71,980
Pennsylvania $74,880
Rhode Island $77,610
South Carolina $69,340
South Dakota $53,080
Tennessee $65,200
Texas $70,830
Utah $69,340
Vermont $72,600
Virginia $87,810
Washington $73,790
West Virginia $68,180
Wisconsin $60,120
Wyoming $59,190

Tools & Technologies Used by Financial Quantitative Analysts

Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Quantitative Analysts:

  • Microsoft Excel
  • Microsoft Office
  • JavaScript
  • Microsoft PowerPoint
  • Web browser software
  • Python
  • Microsoft Access
  • Microsoft Visio
  • Structured query language SQL
  • The MathWorks MATLAB
  • Microsoft Dynamics
  • SAS
  • Linux
  • Microsoft Visual Basic
  • IBM SPSS Statistics
  • Microsoft SQL Server
  • UNIX
  • R
  • Oracle JD Edwards EnterpriseOne
  • Practical extraction and reporting language Perl

Becoming a Financial Quantitative Analyst

Education needed to be a Financial Quantitative Analyst:

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What work experience do I need to become a Financial Quantitative Analyst?

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Who Employs Financial Quantitative Analysts?

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Below are examples of industries where Financial Quantitative Analysts work:

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References:

Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic

More about our data sources and methodologies.

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