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Financial Quantitative Analysts

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Life As a Financial Quantitative Analyst

Financial Quantitative Analyst Definition 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

  • Identify, track, or maintain metrics for trading system operations.
  • Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
  • Prepare requirements documentation for use by software developers.
  • Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
  • Collaborate with product development teams to research, model, validate, or implement quantitative structured solutions for new or expanded markets.
  • Develop solutions to help clients hedge carbon exposure or risk.

Qualities of a Financial Quantitative Analyst

Below is a list of the skills most Financial Quantitative Analysts say are important on the job.

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.

Types of Financial Quantitative Analysts

  • Quantitative Model Analyst
  • Investment Strategist
  • Data Analyst
  • Research Analyst
  • Quantitative Analyst

Are There Job Opportunities for Financial Quantitative Analysts?

In 2016, there was an estimated number of 135,900 jobs in the United States for Financial Specialists.

New jobs are being produced at a rate of 9.6% which is lower than average. The Bureau of Labor Statistics predicts 13,100 new jobs for Financial Quantitative Analysts by 2026. Due to new job openings and attrition, there will be an average of 13,100 job openings in this field each year.

Forecasted Number of Jobs for Financial Quantitative Analysts in U.S.

The states with the most job growth for Financial Specialists are Texas, California, and Florida.

Watch out if you plan on working in South Dakota, Wyoming, or Maine. These states have the worst job growth for this type of profession.

Do Financial Quantitative Analysts Make A Lot Of Money?

The salary for Financial Specialists ranges between about $38,030 and $123,360 a year. The median salary for this occupation is $70,280.

Salary Ranges for Financial Quantitative Analysts

How much do Financial Specialists make in each U.S. state?

Annual Mean Salary by State
State Annual Mean Salary

District of Columbia

$107,760

New York

$96,480

Illinois

$93,200

Massachusetts

$88,370

Virginia

$87,810

Georgia

$85,610

Colorado

$83,800

Arizona

$82,200

New Jersey

$81,660

Delaware

$80,950

California

$80,720

Nebraska

$79,250

Ohio

$78,960

Connecticut

$77,690

New Hampshire

$77,670

Rhode Island

$77,610

Maryland

$77,440

North Dakota

$77,400

North Carolina

$76,050

Alabama

$75,170

Pennsylvania

$74,880

Minnesota

$74,190

Missouri

$74,050

Washington

$73,790

Vermont

$72,600

Oklahoma

$72,520

Oregon

$71,980

Texas

$70,830

Iowa

$69,480

Michigan

$69,480

Utah

$69,340

South Carolina

$69,340

West Virginia

$68,180

Alaska

$68,040

Montana

$67,820

Florida

$67,520

Indiana

$66,590

Maine

$65,430

Tennessee

$65,200

Mississippi

$63,650

New Mexico

$61,940

Louisiana

$61,170

Wisconsin

$60,120

Wyoming

$59,190

Nevada

$58,150

Kentucky

$57,030

Idaho

$56,440

Kansas

$55,300

South Dakota

$53,080

Arkansas

$43,580

Tools & Technologies Used by Financial Quantitative Analysts

Although they’re not necessarily needed for all jobs, the following technologies are used by many Financial Quantitative Analysts:

  • Microsoft Visio
  • MicroStrategy Desktop
  • JavaScript
  • Microsoft Office
  • UNIX
  • C++
  • R
  • Microsoft SQL Server
  • Python
  • Structured query language SQL

Where do Financial Quantitative Analysts Work?

Financial Quantitative Analyst Sectors

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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