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Financial Quantitative Analyst

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What You Need to Know About Financial Quantitative Analyst

Occupation 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.

Financial Quantitative Analyst Responsibilities

  • Develop tools to assess green technologies or green financial products, such as green hedge funds or social responsibility investment funds.
  • Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
  • Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
  • Devise or apply independent models or tools to help verify results of analytical systems.
  • Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
  • Interpret results of financial analysis procedures.

Things a Financial Quantitative Analyst Should Know How to Do

These are the skills Financial Quantitative Analysts say are the most useful in their careers:

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 Jobs

  • Applied Research Director
  • Quantitative Equity Head
  • Global Analytics Head
  • Quantitative Model Analyst
  • Financial Engineer

Financial Quantitative Analyst Job Outlook

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.

Financial Quantitative Analyst Salary

The salary for Financial Quantitative Analysts ranges between about $38,030 and $123,360 a year.

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

Below is a list of the median annual salaries for Financial Quantitative Analysts 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

What Tools do Financial Quantitative Analysts Use?

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

How do I Become a Financial Quantitative Analyst?

Individuals working as a Financial Quantitative Analyst have obtained the following education levels:

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How many years of work experience do I need?

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Where Financial Quantitative Analysts Work

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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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