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.
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.
How much do Financial Specialists make in each U.S. 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?
References
Image Credit: Via Wikimedia Commons
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