What Do Financial Quantitative Analyst Do?
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.
List of Financial Quantitative Analyst Job Duties
- Research new financial products or analytics to determine their usefulness.
- 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.
- Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
- Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
- Develop methods of assessing or measuring corporate performance in terms of environmental, social, and governance (ESG) issues.
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Skills Needed to be 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.
Related Job Titles
- Quantitative Researcher
- Quantitative Model Validation Analyst
- Investment Strategist
- Quantitative Analyst
- Financial Quantitative Analyst
Is There Job Demand for Financial Quantitative Analysts?
In the United States, there were 135,900 jobs for Financial Quantitative Analyst in 2016. 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 Average Salary
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 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 & Technology 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
- 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 to Become a Financial Quantitative Analyst
Learn what Financial Quantitative Analyst education requirements there are.
How Long Does it Take to Become a Financial Quantitative Analyst?
Financial Quantitative Analysts Sector
The table below shows some of the most common industries where those employed in this career field work.
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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