What is a Financial Quantitative Analyst?
Job Description & Duties 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?
- Interpret results of financial analysis procedures.
- Provide application or analytical support to researchers or traders on issues such as valuations or data.
- Maintain or modify all financial analytic models in use.
- Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
- Analyze pricing or risks of carbon trading products.
- Define or recommend model specifications or data collection methods.
Skills Needed to be 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.
Types of Financial Quantitative Analyst
- Global Analytics Head
- Risk Analyst
- Financial Analyst
- Quantitative Strategy Analyst
Job Opportunities for Financial Quantitative Analysts
There were about 135,900 jobs for Financial Quantitative Analyst in 2016 (in the United States). 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.
How Much Does a Financial Quantitative Analyst Make?
The typical yearly salary for Financial Quantitative Analysts is somewhere between $38,030 and $123,360.
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|
|District of Columbia||$107,760|
What Tools do Financial Quantitative Analysts Use?
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
- Microsoft PowerPoint
- Web browser software
- Microsoft Access
- Microsoft Visio
- Structured query language SQL
- The MathWorks MATLAB
- Microsoft Dynamics
- Microsoft Visual Basic
- IBM SPSS Statistics
- Microsoft SQL Server
- Oracle JD Edwards EnterpriseOne
- Practical extraction and reporting language Perl
Becoming a Financial Quantitative Analyst
What education or degrees do I need to become a Financial Quantitative Analyst?
How Long Does it Take to Become a Financial Quantitative Analyst?
Where Financial Quantitative Analysts Are Employed
Below are examples of industries where Financial Quantitative Analysts work:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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