What Does it Take to Be a Financial Quantitative Analyst?
Example of Financial Quantitative Analyst Job 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.
A Day in the Life of a Financial Quantitative Analyst
- Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
- Analyze pricing or risks of carbon trading products.
- Assess the potential impact of climate change on business financial issues, such as damage repairs, insurance costs, or potential disruptions of daily activities.
- Prepare requirements documentation for use by software developers.
- Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
- Maintain or modify all financial analytic models in use.
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Qualities of a Financial Quantitative Analyst
Below is a list of the skills most Financial Quantitative Analysts say are important on the job.
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.
Types of Financial Quantitative Analyst
- Research Analyst
- Portfolio Manager
- Quantitative Model Analyst
- Quantitative Research Analyst
- Global Credit Quantitative Analysis Head
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. The BLS estimates 13,100 yearly job openings in this field.
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.
Do Financial Quantitative Analysts Make A Lot Of Money?
Financial Quantitative Analysts make between $38,030 and $123,360 a year.
Financial Quantitative Analysts who work in District of Columbia, Virginia, or Illinois, make the highest salaries.
How much do Financial Quantitative Analysts make in each U.S. state?
| 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
Below is a list of the types of tools and technologies that Financial Quantitative Analysts may use on a daily basis:
- 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:
How Long Does it Take to Become a Financial Quantitative Analyst?
Where Financial Quantitative Analysts Work
The table below shows the approximate number of Financial Quantitative Analysts employed by various industries.
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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