Financial Quantitative Analysts in Michigan
Want to work as a Financial Quantitative Analysts in Michigan? Here’s what you need to know. All financial specialists not listed separately.
What do Financial Quantitative Analysts Make in Michigan?
For a financial quantitative analysts working in Michigan, wages run about $81,470 per year (or roughly $39.17/hour).Pay can range from $51,590 at the 10th percentile to $126,800 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $51,590 | $24.80 |
| 25th percentile | $63,580 | $30.57 |
| Median (50th) | $81,470 | $39.17 |
| 75th percentile | $115,070 | $55.32 |
| 90th percentile | $126,800 | $60.96 |
The job concentration index in Michigan nationwide is 0.47, indicating fewer financial quantitative analysts per worker than the national average.
National Wage Comparison
Nationally, financial quantitative analysts earn a median of $126,371 per year ($60.76/hour), lower than the Michigan median.
Employment Outlook
Nationally, total employment in this occupation is 304,801 financial quantitative analysts across the United States. In Michigan alone, about 1,710 people work in this role. That’s higher than the typical state, which employs around 1,510 financial quantitative analysts.
Top Michigan Metros for Financial Quantitative Analysts
The metro areas below employ the most financial quantitative analysts in Michigan.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Detroit-Warren-Dearborn, MI | 1,020 | $103,740 |
| Lansing-East Lansing, MI | 180 | $81,470 |
| Ann Arbor, MI | 130 | $64,190 |
| Grand Rapids-Wyoming-Kentwood, MI | 100 | $74,230 |
| Battle Creek, MI | 30 | $94,360 |
Top States for Financial Quantitative Analysts Employment
These states have the highest employment of financial quantitative analysts work.
| State | Number Employed |
|---|---|
| California | 15,360 |
| Texas | 12,290 |
| Illinois | 7,140 |
| Florida | 7,030 |
| New York | 6,760 |
| Virginia | 5,560 |
| New Jersey | 4,870 |
| Ohio | 4,510 |
| Georgia | 4,370 |
| Maryland | 4,290 |
| Pennsylvania | 3,830 |
| Colorado | 3,820 |
| Louisiana | 3,500 |
| North Carolina | 3,260 |
| Washington | 3,110 |
| Massachusetts | 2,930 |
| Tennessee | 2,810 |
| Missouri | 2,740 |
| District of Columbia | 2,530 |
| Utah | 2,110 |
Highest-Paying States for Financial Quantitative Analysts
The highest-paying states for financial quantitative analysts.
| 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 |
Skills
Key financial quantitative analysts skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Important knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
Top abilities for financial quantitative analysts, rated on an importance scale of 0 to 5:
Daily Tasks
Day-to-day, financial quantitative analysts typically:
- 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.
- Devise or apply independent models or tools to help verify results of analytical systems.
- Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
- Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
- Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
Work Activities
- Working with Computers
- Analyzing Data or Information
- Processing Information
- Getting Information
- Making Decisions and Solving Problems
- Updating and Using Relevant Knowledge
- Interpreting the Meaning of Information for Others
- Communicating with Supervisors, Peers, or Subordinates
- Thinking Creatively
- Estimating the Quantifiable Characteristics of Products, Events, or Information
- Identifying Objects, Actions, and Events
- Organizing, Planning, and Prioritizing Work
Tools & Technology
Technologies frequently used: Hot technologies: Amazon Web Services AWS software, Apache Hive, C#, C++ In-demand technologies: C++, Microsoft Excel
What Major Will Prepare You For This Career?
Programs that train for this career include:
- Finance & Financial Management
- Business Administration & Management
- Applied Mathematics
- Religious Institution Administration and Law
Featured schools near , edit
Related Careers
Other careers like financial quantitative analysts include:
- Investment Fund Managers
- Management Analysts
- Market Research Analysts and Marketing Specialists
- Credit Analysts
- Financial and Investment Analysts
- Personal Financial Advisors
Also Known As
Analyst, Data Analyst, Equity Analyst, Equity Structurer, Finance Analyst, Financial Analyst, Financial Engineer, Financial Quantitative Analyst, Investment Associate, Investment Portfolio Control Consultant, Investment Strategist, Model Risk Manager, Model Validation Analyst, Portfolio Manager, Predictive Modeler.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 13-2099.01
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