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how to become a quantitative analyst

Written By Tuesday, November 2, 2021 Add Comment Edit

Quantitative Analyst Salary

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The following article discusses the career path of a Quantitative Analyst. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Quantitative Analysts.

Quantitative Analyst Job Duties

Quantitative analysts are responsible for the creation of a strategy that enable stock trades to be as efficient as possible. They work hand in hand with various mathematical professionals in an effort to improve existing trading strategies and protocols. They have a range of different skills, focusing on computers, finances, and mathematics, which they employ to maximize profit levels.

These professionals also create analytical models and edit them as and when needed. They join forces with other financial experts to come up with better tools to ensure stock and financial portfolios are maintained and improved on. They also report to the company and ensure the right software is in place. They have strong organizational and mathematical skills, therefore, and have a drive and passion for building better portfolios.

Other job duties of a quantitative analyst include:

  • Analyzing and researching available statistics of the market to create, validate, test, implement, evaluate, and maintain quantitative models and software programs
  • Perform default risk modeling, loan pricing, and risk analysis
  • Creating new experiments and tests in order to gather data
  • Consolidating, querying, and presenting findings to senior management
  • Developing new portfolios

Where Quantitative Analyst's Work

According to the U.S. Bureau of Labor Statistics, there were 296,100 financial analysts in 2016, a profession closely related to that of quantitative analysts. The largest employers of these professionals were:

  • Securities, commodity contracts, and other financial investments and related activities: 24%
  • Professional, scientific, and technical services: 14%
  • Credit intermediation and related activities: 13%
  • Management of companies and enterprises: 12%
  • Insurance carriers and related activities: 7%

How to Become a Quantitative Analyst

A quantitative analyst is expected to hold a bachelor's degree in finance or related field, such as business, as a minimum. However, many also complete further education. Furthermore, work experience and proven success are of key importance.

Quantitative Analyst Education Requirements

A bachelor's degree is generally the minimum requirement. While a bachelor's degree in finance is recommended, fields such as mathematics, statistics, economics, and accounting are also suitable. Licenses and certifications are also available and sometimes required by employers.

The main licensing body for the securities industry is the Financial Industry Regulatory Authority (FINRA). If quantitative analysts wish to sell financial products, they will need to be licensed. To receive this license, employer sponsorship is required. This means that analysts are not expected to already be licensed when they start a job.

Certification is usually recommended depending on the position. The Chartered Financial Analyst (CFA), offered by the CFA Institute, is very popular. To obtain CFA certification, a quantitative analyst must hold a bachelor's degree, have four years of relevant professional experience, and pass three different examinations. They can also obtain further certification in specialty fields. Doing so will also greatly improve their advancement prospects.

Quantitative Analyst Traits & Qualities

The most effective quantitative analysts have the following traits to some degree or other:

  • Excellent analytical skills
  • Great communication skills, both verbal and written, particularly in relation to report writing and holding presentations
  • Computer skills, focusing on financial analysis software
  • Strong decision making skills
  • Detail oriented
  • Excellent mathematical skills

Minimum Quantitative Analyst Education

Bachelor's Degree

National Quantitative Analyst Salary

The national average salary estimate for Quantitative Analyst was $127,870. This number is estimated from over 845,324 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $66.60 and monthly of $10,656.

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Salary Distribution

Quantitative Analyst Salary by State

The following section lists Quantitative Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Arkansas had the largest quoted salary of $164,510 while Oregon had the smallest quoted salary of $35,029.

Alaska Florida Nevada
Alabama Georgia New York
Arkansas Illinois Ohio
Arizona Massachusetts Oregon
California Maryland Pennsylvania
Colorado Minnesota Tennessee
Connecticut Missouri Texas
DC North Carolina Virginia
Delaware New Jersey Washington
Alaska – $96,985 Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like McKinley Capital Management, LLC.
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$48,000

$147,000

Salary Distribution
Alabama – $131,532 Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Regions Bank, Accounting Career Network, and The Job Jobber.
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$44,000

$265,000

Salary Distribution
Arkansas – $164,510 Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like The Job Jobber and Accounting Career Network.
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$82,000

$248,000

Salary Distribution
Arizona – $153,773 Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like Accounting Career Network.
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$77,000

$256,000

Salary Distribution
California – $119,011 Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like GQR Global Markets, Pacific Investment Management Company, Emerald Resource Group, and Selby Jennings.
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$35,000

$251,000

Salary Distribution
Colorado – $148,046 Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Select Source International Pvt Ltd, Accounting Career Network, MashPoint, and Robert Half Technology.
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$63,000

$267,000

Salary Distribution
Connecticut – $122,398 Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like UBS, Excel Partners, GQR Global Markets, and Brokerage Firm.
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$27,000

$287,000

Salary Distribution
DC – $105,023 Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Selby Jennings.
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$34,000

$214,000

Salary Distribution
Delaware – $97,566 Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like Harnham and PNC Financial Services Group.
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$49,000

$148,000

Salary Distribution
Florida – $82,469 Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like NextEra Energy.
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$22,000

$180,000

Salary Distribution
Georgia – $127,745 Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like SunTrust, Bank Of America, Intercontinental Exchange, and Accounting Career Network.
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$41,000

$260,000

Salary Distribution
Illinois – $110,292 Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like Multi strategy hedge fund, GinasTechJobs.com, Gina's Tech Jobs, and Citadel LLC.
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$33,000

$232,000

Salary Distribution
Massachusetts – $119,076 Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like GQR Global Markets, Selby Jennings, Eka finance, and Fanning Personnel.
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$39,000

$242,000

Salary Distribution
Maryland – $89,277 Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Inovalon, Exelon Generation Company, LLC, and T. Rowe Price.
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$14,000

$236,000

Salary Distribution
Minnesota – $84,421 Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and U.S. Bank National Association.
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$24,000

$180,000

Salary Distribution
Missouri – $85,419 Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like Sanford Rose Associates – Wayne.
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$21,000

$192,000

Salary Distribution
North Carolina – $119,443 Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like Bank Of America, BB&T, Fuzzy Logix, LLC, and All-In Analytics.
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$41,000

$237,000

Salary Distribution
New Jersey – $97,980 Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like KCG Americas LLC.
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$26,000

$216,000

Salary Distribution
Nevada – $74,284 Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Robert Half Technology.
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$26,000

$146,000

Salary Distribution
New York – $142,022 Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like Stratactico, Integrated Management Resources, LLC, JMD Partners, and Averity.
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$46,000

$289,000

Salary Distribution
Ohio – $86,622 Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like PNC Financial Services Group, KeyBank, Queen Associates, and Emerald Resource Group.
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$24,000

$187,000

Salary Distribution
Oregon – $35,029 Rank: 27th
The average salary ranks 27th among states in the country. There were also job openings from employers like Spalding Goobey.
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$14,000

$72,000

Salary Distribution
Pennsylvania – $107,262 Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like PNC Financial Services Group, BNY Mellon, Averity, and FusionFind.
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$21,000

$261,000

Salary Distribution
Tennessee – $162,258 Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like Accounting Career Network.
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$81,000

$246,000

Salary Distribution
Texas – $126,446 Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like Workway, Accounting Career Network, Emerald Resource Group, and Selby Jennings.
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$44,000

$250,000

Salary Distribution
Virginia – $90,529 Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like CyberCoders and Capital One.
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$40,000

$161,000

Salary Distribution
Washington – $103,898 Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like Huxley Banking & Financial Services.
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$33,000

$214,000

Salary Distribution

Top 20 National Quantitative Analyst Employers

According to Indeed.com, the following states had employers looking to hire a Quantitative Analyst. The quoted salary figure represents the average salary from all job postings by this employer.

Employer Name Location Average Salary
GQR Global Markets Quantitative Analyst Connecticut $263,326
Averity Quantitative Analyst Pennsylvania $245,145
FusionFind Quantitative Analyst Pennsylvania $235,885
Stratactico Quantitative Analyst New York $235,186
Integrated Management Resources, LLC Quantitative Analyst New York $232,152
JMD Partners Quantitative Analyst New York $223,624
Multi strategy hedge fund Quantitative Analyst Illinois $200,000
Roljobs Technology Quantitative Analyst Pennsylvania $194,029
NBN, Inc. Quantitative Analyst Pennsylvania $194,029
Eka finance Quantitative Analyst New York $180,499
GinasTechJobs.com Quantitative Analyst Illinois $180,000
Employment Staffing Quantitative Analyst New York $175,000
Brokerage Firm Quantitative Analyst Connecticut $173,241
Palm Mason Quantitative Analyst Connecticut $173,241
Hunter Bond Quantitative Analyst New York $171,567
Focus Capital Markets Quantitative Analyst New York $171,115

Quantitative Analyst Learn More

  • Quantitative analyst – Wikipedia
  • Salary Outlook for Quantitative Analyst Degree Grads
  • Best Online Quantitative Analysis Degree
  • 5 Ways to Develop Quantitative Analysis Skills
Career Name Average Salary
Director of Engineering $138,182
Director of Pharmacy $136,890
Chief Marketing Officer $136,769
Data Scientist $130,297
Chief Financial Officer $130,123
Investment Banker $125,041
Network Architect $123,709
Chief Information Officer $121,573
Pharmacy Manager $119,896
IT Security Specialist $113,452

"It doesn't matter how many times you have failed, you only have to be right once." - Mark Cuban

how to become a quantitative analyst

Source: https://www.businessstudent.com/careers/quantitative-analyst/

Posted by: boardgreedur.blogspot.com

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