What Do Financial Quantitative Analyst Do?
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.
Daily Life Of a Financial Quantitative Analyst
- Research new financial products or analytics to determine their usefulness.
- Identify, track, or maintain metrics for trading system operations.
- Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
- Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
- Analyze pricing or risks of carbon trading products.
- Develop solutions to help clients hedge carbon exposure or risk.
Qualities of a Financial Quantitative Analyst
When polled, Financial Quantitative Analysts say the following skills are most frequently used in their jobs:
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
- Quantitative Analyst
- Financial Engineer
- Quantitative Equity Head
- Global Credit Quantitative Analysis Head
- Investment Strategist
Job Demand for Financial Quantitative Analysts
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. There will be an estimated 13,100 positions for Financial Quantitative Analyst per year.
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.
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|
|District of Columbia||$107,760|
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
- 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
Learn what Financial Quantitative Analyst education requirements there are.
How Long Does it Take to Become a Financial Quantitative Analyst?
Where Financial Quantitative Analysts Are Employed
Financial Quantitative Analysts work in the following industries:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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