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Job outlook for finance quantitative analysts in the United States
Are finance quantitative analyst jobs in demand?
Finance quantitative analyst job and salary trends over time
Finance quantitative analyst jobs over time
Finance quantitative analyst job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 1,866 | 0.00% |
| 2020 | 1,273 | 0.00% |
| 2019 | 1,252 | 0.00% |
| 2018 | 1,957 | 0.00% |
| 2017 | 1,880 | 0.00% |
Average finance quantitative analyst salary over time
Finance quantitative analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $80,288 | $38.60 | +2.6% |
| 2025 | $78,233 | $37.61 | +1.7% |
| 2024 | $76,950 | $37.00 | +1.6% |
| 2023 | $75,728 | $36.41 | +3.1% |
| 2022 | $73,446 | $35.31 | +1.8% |
Finance quantitative analyst jobs by state
Most common states for finance quantitative analysts
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 423 | 61% |
| 2 | Delaware | 961,939 | 242 | 25% |
| 3 | Massachusetts | 6,859,819 | 1,589 | 23% |
| 4 | North Dakota | 755,393 | 173 | 23% |
| 5 | Virginia | 8,470,020 | 1,865 | 22% |
| 6 | Maryland | 6,052,177 | 1,206 | 20% |
| 7 | Utah | 3,101,833 | 611 | 20% |
| 8 | Wyoming | 579,315 | 113 | 20% |
| 9 | Minnesota | 5,576,606 | 1,075 | 19% |
| 10 | Rhode Island | 1,059,639 | 188 | 18% |
| 11 | New York | 19,849,399 | 3,282 | 17% |
| 12 | Illinois | 12,802,023 | 2,136 | 17% |
| 13 | Washington | 7,405,743 | 1,231 | 17% |
| 14 | Colorado | 5,607,154 | 964 | 17% |
| 15 | Vermont | 623,657 | 105 | 17% |
| 16 | Connecticut | 3,588,184 | 587 | 16% |
| 17 | Alaska | 739,795 | 116 | 16% |
| 18 | Wisconsin | 5,795,483 | 889 | 15% |
| 19 | New Hampshire | 1,342,795 | 207 | 15% |
| 20 | South Dakota | 869,666 | 130 | 15% |
Most common cities for finance quantitative analysts
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Newark | 2 | 6% | $88,491 |
| 2 | Atlanta | 25 | 5% | $67,159 |
| 3 | Chicago | 23 | 1% | $77,023 |
| 4 | Wilmington | 1 | 1% | $88,717 |
| 5 | Jersey City | 1 | 0% | $100,427 |
| 6 | Los Angeles | 1 | 0% | $77,175 |
| 7 | Miami | 1 | 0% | $63,306 |
| 8 | San Francisco | 1 | 0% | $82,024 |
Finance Quantitative Analyst job outlook: Expert opinions
Our panel of finance quantitative analyst experts
Manhattan College
Fairfield University
University of Akron
University of Oregon
Stonehill College
King's College
American University
Albion College
Cedar Falls
Southwestern College
University of Wisconsin - La Crosse
Lawrence Technological University
Pacific Lutheran University
University of Nevada - Las Vegas
University of California, Irvine
Keith Kerr Prof.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Keith Kerr Prof.: There are two basic ways that most people in the US find financial success: Either find a job that pays a high salary, or find a career that you love, regardless of the salary, and make a habit of saving and investing part of your income each month starting with your first paycheck.
If you invest only $90 a month starting at 21 and ending at retirement, you would have a bit over 1 million dollars (assuming a 10% annual gain). Wait just 5 years and start doing this at 26 and your 5 years of time will have cost you $400,000 by retirement. This is the power of compounding. Start early and even with a lower salary, you still can find financial success while pursuing careers that are meaningful to you.
What general advice would you give to a Finance Quantitative Analyst?
Dr. Natalia Boliari PhD: First, learn everything about the company you just started working for - its historical path, management, the way it's dealt with crises, etc. Second, learn everything about the specific industry the company belongs to and see how the company has developed relative to the development of the industry domestically and internationally. Third, always be extremely alert to notice new opportunities and be prepared to take calculated risks. That is, actively look for opportunities to complete as many and diverse tasks as possible, and volunteer to complete any type of work regardless of whether it seems relevant to your assigned job or not. Opportunities to learn, grow, and improve and thus to maximize your income, will only come up if you are exposed to diverse situations.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Dr. Natalia Boliari PhD: Be open minded. Finance is the broad definition of an industry which provides opportunities for careers in financial consultancy, financial analysis, stock brokerage, foreign investment, modeling, exchange rate forecasts, and many more. While most of those careers are attributed to the banking industry, you can find those and others in other sectors of the economy, such as insurance, technology, health care/medical, government, and so on. So, be open and look beyond the banking sector, examine the current and predicted trends in the economy to hunt for exciting career options.
What will help Finance Quantitative Analysts increase their earning potential?
Dr. Natalia Boliari PhD: Skills in research, programming, and modeling. Research skills are difficult to develop and many students don't have the patience or even the desire to acquire them. But they are critical for careers in finance and remain a top set of skills for employers. Programming and modeling helps with decision making by reducing (potentially) the degree of economic and market uncertainties as well as with forecasts. So definitely invest time in learning and continuously developing research and programming skills in the career niche you are pursuing.
What general advice would you give to a Finance Quantitative Analyst?
John McDermott Ph.D.: To maximize your salary potential, keep learning, investing in your human capital, and expanding your capabilities. Learn as much as you can about your new position and industry, work with a variety of people at your firm, and seek opportunities outside your comfort zone. Your salary potential will increase as you are recognized as a capable and hard working colleague.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Clemens Kownatzki PhD, MBA: In the past five years, almost every conversation I had with executives looking to hire new finance graduates included the word Python. A couple of decades ago it was all about Excel skills, Pivot tables, and SQL but the expectation today is that finance graduates have some basic skills in statistics and data science and know Python. And the most popular and widely accepted programming language today is Python (and R depending on who you talk to). It may be something else in five years but for now, learn Python. And it’s been easier than ever before to get a basic grasp of the important elements of this language with a tool that is free, as opposed to many other tools like SQL, SAAS, Matlab, and Stata that cost money and have a declining adoption in the industry. With a wider adoption of AI, it is increasingly about efficiency. How can you create a financial model for a project faster than before? What took 8 hours to write the code for a sophisticated model, might only take 30 minutes or less today. Learning how to use AI as an efficiency and productivity tool will be essential. And lastly, you still have to understand concepts well and use your critical thinking skills to be successful in any field. Let’s not forget, ChatGPT is not intelligent, it’s just a probability box that’s all; but it can help a knowledge worker to be incredibly efficient and productive.
What will help Finance Quantitative Analysts increase their earning potential?
Eric Brisker Ph.D.: Focusing on developing skills in communication, networking, social skills, analytical skills, financial knowledge, and obtaining professional certifications can help maximize salary potential in the finance industry. Developing these skills and following the advice provided can lead to opportunities for higher salaries.
Z. Jay Wang
Department Head, Associate Professor of FinanceUniversity of Oregon
Finance And Financial Management Services
What general advice would you give to a Finance Quantitative Analyst?
Z. Jay Wang: As you onboard into your first roles in finance, a great work ethic and strong technical skills are obviously important for your long-term success. Moreover, your human skills will be as important as your technical skill. Ensure you practice and develop your communication, problem-solving, critical thinking, and project management skills. In terms of technical skills attention to detail, use of data analytics tools, and visualization will be very valuable. Another often overlooked skill is written communication. Many students fail to realize the importance of effective communications.
What will help Finance Quantitative Analysts increase their earning potential?
Z. Jay Wang: Students who have a history of doing work in the field outside the classroom either through internships, industry projects, or school-sponsored clubs managing financial decisions are better poised to maximize starting salary potential. Starting early to secure internships with top companies will also position students well for higher earning potential. Most top banks and firms will post internships from April/May to August, and close by the end of September for the following summer. They are also rolling, so may fill the roles by as early as June of the sophomore year for the following summer after junior year. Finally, networking with industry and alumni professionals in the companies, firms, banks prior to applying for an internship or full-time position will have an impact. The candidate will learn more about the opportunity and company culture for their resume and potential interview, and most top companies in finance will have a referral program. If the candidate impresses the internal connection with excellent questions and strategic answers, they may get a referral that moves them up in the stacks of applicants.
What general advice would you give to a Finance Quantitative Analyst?
Dr. Wayne Durr: Maximizing your salary potential starts with understanding your value. What skills and
capabilities can you articulate to a prospective employer? The ability to articulate these skills
and what you bring to that company can be challenging. Think of your resume like an artist
thinks of their portfolio. What projects or analysis have you worked on? You cannot articulate
the value you will bring to that prospective company without the ability to articulate your skills
and capabilities. Do your research to determine what other employers pay people with the
same abilities. Ask employers what the salary range is and use that as your baseline. As you
get close to graduating, your classmates talk about the job offers they receive and most likely
share the salaries they are being offered. Listen and use this as a baseline. All this gives you
an idea of your value. Your first job isn't always the place where you'll be able to maximize your
earning potential. Think of your first job as where you will get the work experience to maximize
your future earning potential. Look at this as the place where you will sharpen your skills and
develop new ones. This first job will be where you fill out your resume and either have an
opportunity to maximize your earning potential there or elsewhere in the future.
Additionally, think about passive income and the "side gig". If you don't feel like you're
maximizing your earning potential at that first job, think about how you can make money on the
side. I believe we now live in a society where truly maximizing your earning potential comes
from more than your current employer. The ability to earn money from a side gig is more
prevalent than ever before. I think every student should take an entrepreneur class. Think
about your skills, which one could make you some side money. Don't dismiss jobs you did
growing up, like delivery service, landscaping, etc. There are so many apps and websites that
people and companies are looking for anything from an hour to a couple of days worth of work.
Take that first six months on the job to get settled in, and then start thinking about that side gig.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Dr. Wayne Durr: My advice to a graduate beginning their career in Finance is don't stop learning. You've spent
the last four plus years grinding through the required academics to graduate, but how much did
you learn? Most students spend most of their time "memorizing" the content necessary to pass
their exams, but memorizing isn't learning. Employers aren't as patient as in years past and
want new graduates to jump in and be productive. Employers aren't spending money and
resources on long training periods for new graduates. This doesn't mean you must return to
college or spend money on additional courses. Once you've landed that job that begins your
career in the world of Finance, find ways to increase your knowledge of the tasks assigned to
you by that employer-great sites like Coursera, Udemy, etc. Find current books related to the
topic, use audiobooks, ebooks, podcasts, etc. These can all be ways to update your learning in
a simple and shorter time frame. You might find listening to an audible book or podcast more
enjoyable without memorizing the content to pass an exam. Even contact a former professor for
recommendations. Many of your former professors do the same thing to stay current in their
field.
Peter Ibbott
Associate Professor of EconomicsKing's College
Economics
What will help Finance Quantitative Analysts increase their earning potential?
Peter Ibbott: If you are considering a career in economics or finance, it is best to get an MA in Economics or a Masters in Financial Economics. If you are considering a career in Business or Finance, it is best to develop your experience through work, while seeking additional educational opportunities throughout your career. Many find that accumulating micro-credentials can be useful. A more valuable path is to work towards obtaining a Chartered Financial Analyst designation. For strong students, taking a break later in your career to pursue an MBA or Masters of Finance can be useful in advancing your mid-career prospects.
What general advice would you give to a Finance Quantitative Analyst?
Peter Ibbott: Advanced methods in Econometrics and Data Analytics are particularly valuable. In particular, experience with R, SQL, Python, Excel, and STATA are currently in great demand. There is growing evidence that a deep familiarity with AI tools (like ChatGPT) is increasingly important - particularly around using effective prompts to increase research productivity.
Octavian Ionici PhD
Sr. Lecturer in FinanceAmerican University
Finance And Financial Management Services
What general advice would you give to a Finance Quantitative Analyst?
Octavian Ionici PhD: The right education and training along with solid interpersonal skills should be at the top of their skill set. With those skills they can navigate potential disruptions to the workforce, future business trends and emerging technologies.
Hard core financial modeling skills are a must for finance, especially now with algorithmic business applications multiplying with the emergence of AI. Knowing how to develop a model that will answer multiple what-if scenarios for allocating resources, securing funding, managing risk, developing future plans, and making smart decisions overall.
Because AI, chatbots, blockchain and other "robots" will help companies simplify the workflows (preparing the reports and processes) faster, people will need to understand how to apply these technologies in order to analyze the results and to make decisions in real time.
People will also need to monitor the AI models and to constantly check for accuracy and biases. A big emphasis will be on collaboration of interdisciplinary teams of professionals working in IT, finance, accounting, HR and leadership. This means that companies will value employees that know how to find business information and deliver answers across functional areas proactively.
Finally, as they are working in a global interconnected world, they need to understand different cultures, regulations, and societal norms, so that they can respectfully communicate their ideas in cross-cultural situations. Along with the necessary technical skills, having an open mind and strong customer service focus will benefit them as the field continues to evolve.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Octavian Ionici PhD: The finance profession is lucrative, rewarding and very competitive. Graduates should do their research about the organization they are interviewing with and be able to discuss how their skills can contribute to the business. They should also know if they would rather interact with people and clients or if they are drawn to intellectual pursuits such as analysis. Do they value power, prestige status, risk, or something else? Ultimately our core values, personal goals, interests, aptitudes, and personality will shape our career paths.
Being able to articulate what sparked their interest in the financial field and why they are interested in a chosen role will be an advantage during the hiring process. While still in college, students should join a professional association like the Financial Management Association to give them more access to that broad network, as well as access to career development resources that can set them apart from the crowd.
It's also critical to get an internship (paid or unpaid) in order to show some real-life experience. They can do this while they are still in college, during the summers, or even afterwards, to get a foot in the door.
Reading the WSJ and FT daily, and listening to Bloomberg, or other financial programs as a regular practice will help them to have fluency in the language of our profession. Because the finance sector is heavily regulated and changes occur due to changing economic and political conditions, they will need to stay updated with those changes. Financial media sources will help bring them that context to stay up to date on all of these moving parts.
What will help Finance Quantitative Analysts increase their earning potential?
Octavian Ionici PhD: Try to understand what your boss or your company needs, then see if you can fill that gap with your skill set and work ethic. Finance constantly evolves. A career with lifelong learning will help keep you employable. Investing in continuous learning and skill development can increase your income potential down the road.
Plus, don't underestimate the power of a positive attitude and strong work ethic. You may not be an expert at the beginning, but you can take on every challenge given to you, work hard and try to turn it into a success for your organization. Each win will build your reputation and your portfolio of skills which you will then bring with you to your next job. As you do this, you will inevitably acquire specialized skills.
What general advice would you give to a Finance Quantitative Analyst?
Noah Alatza: As you begin your career, there are two areas that are critical to your success. First, it is essential that you commit to continuous learning. Strive to become knowledgeable on a wide variety of issues and developments in the financial sector, and set yourself apart by becoming an expert in a few key areas of interest. Secondly, actively build your professional network. Always take the opportunity to make new connections, and commit dedicated time each week to building and maintaining those relationships.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Noah Alatza: Prior to graduation, gain as much relevant experience as possible through internships. Having multiple internships where you've proven yourself to be successful and hardworking is essential to getting the best offers for full-time roles. In the early years of your career, take note of the qualifications of your next promotion and proactively take steps to ensure that you achieve those qualifications. Finally, make sure to do your research on salary levels for similar positions and don't be afraid to ask for an increase when your work performance and data support that request.
What general advice would you give to a Finance Quantitative Analyst?
Dr. Kimberly Gaither: Finance majors will also be valued for their analytical skills, but more and more soft skills will be valued into the future. Communicating your analysis in a manner consistent with your audience will make you a valued person in the field. Students who were forced to navigate learning along through COVID will need to be able to re-engage in person-to-person professional relationships, even when those meetings are remote. Clear writing is essential today and may not have been stressed in your curriculum. There are many opportunities to continuously upskill, take advantage of those courses.
What will help Finance Quantitative Analysts increase their earning potential?
Dr. Kimberly Gaither: Maximize your salary potential by asking questions and learning as quickly as possible. Be a good communicator with those above and below you as well as your peers. Be dependable. Persons who show up early and work hard will be valued and rewarded.
Dr. Jon Hooks Ph.D., CFA, CFP®
Professor of Economics and ManagementAlbion College
Economics
What general advice would you give to a Finance Quantitative Analyst?
Dr. Jon Hooks Ph.D., CFA, CFP®: Do not underestimate the importance of your GPA. Work hard in every class to get a 4.0. An increasing number of employers are requesting students with at least a 3.7 or 3.8 GPA. Also, set yourself apart. Add some skill that distinguishes you from the huge number of other finance graduates.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Dr. Jon Hooks Ph.D., CFA, CFP®: Offer the employer something that helps their company. What can you do for them? I had one successful, recent graduate who has a successful investment banking career who said "learn Excel like you life depended on it". Take something to the table.
What will help Finance Quantitative Analysts increase their earning potential?
Dr. Jon Hooks Ph.D., CFA, CFP®: I encourage all my finance students to double major or minor in data analytics, computer science, or math. The top jobs are increasingly quantitative.
Brett Olsen
Department Head and Professor of FinanceCedar Falls
Finance And Financial Management Services
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Brett Olsen: Every business, every institution, every family, and every fund deals with cash flows. Being able to evaluate, understand, quantify, analyze, compute, and communicate the flows of cash is necessary and cannot be avoided. This is a good profession at any point in time. The use of cash is ubiquitous.
What will help Finance Quantitative Analysts increase their earning potential?
Brett Olsen: To succeed as a Finance Analyst, one needs to be interested in math, willing to solve problems, and driven by both. Those who dislike math or problem-solving may find the career challenging.
Kevin Alston MBA
Doctoral Candidate DBASouthwestern College
Finance And Financial Management Services
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Kevin Alston MBA: Crypto Currency and AI. These two are the most impactful variables associated with the Financial Industry.
Dr. Adam Stivers
Chair and Associate Professor, Department of Finance at the University of Wisconsin – La CrosseUniversity of Wisconsin - La Crosse
Finance And Financial Management Services
What will help Finance Quantitative Analysts increase their earning potential?
Dr. Adam Stivers: AI prompt engineering will likely become increasingly vital in finance. However, while AI tools will likely be able to handle a lot of quantitative tasks in the financial services industry, professionals will still need to be able to interpret and explain its output to others. That means communication skills and other soft skills will be important, but you still need to understand the quantitative aspects.
Matthew Cole Ph.D.
Interim Dean, College of Business and Information TechnologyLawrence Technological University
Architecture And Related Services
What general advice would you give to a Finance Quantitative Analyst?
Matthew Cole Ph.D.: Important Skills for the Next 3-5 Years: Digital fluency in accounting software and data analytics, strategic financial planning capabilities, in-depth knowledge of regulatory and compliance issues, and expertise in sustainability accounting will become increasingly important.
What will help Finance Quantitative Analysts increase their earning potential?
Matthew Cole Ph.D.: Specializing in high-demand areas like tax or forensic accounting, demonstrating strong technology skills, negotiating based on industry salary standards, and pursuing professional development and additional credentials will maximize salary potential.
Fang Lin
Assistant Professor of FinancePacific Lutheran University
Finance And Financial Management Services
What general advice would you give to a Finance Quantitative Analyst?
Fang Lin: Proficiency in coding and statistical modeling is essential. At a minimum, individuals should be able to understand basic financial models. Ideally, they should be able to code or at least interpret code in languages such as Python and R. Additionally, soft skills such as communication, problem-solving, and critical thinking will continue to be invaluable.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Fang Lin: Don't be afraid to negotiate your starting salary. Young journalists have a lot to offer newsrooms through social media skills and a willingness to adapt to new technologies such as artificial intelligence. Technology skills have value and should not be undersold. Also, young journalism students should not discount the value of their student media and internship experiences. Young journalists must use everything on their resumes to show how they bring value to their position and ask to be compensated fairly for the work they will contribute to the newsroom's success.
What will help Finance Quantitative Analysts increase their earning potential?
Fang Lin: I believe that data analysis is becoming increasingly crucial for finance professionals. Therefore, proficiency in coding and statistical modeling is essential. At a minimum, individuals should be able to understand basic financial models. Ideally, they should be able to code or at least interpret code in languages such as Python and R. Additionally, soft skills such as communication, problem-solving, and critical thinking will continue to be invaluable.
Dhruba Banjade
Assistant Professor in Finance & Department Chair of Business AnalysisWhat general advice would you give to a Finance Quantitative Analyst?
Dhruba Banjade: i. The industry technology is changing fast. Specific skills will be more critical in the finance field in the next 3-5 years. Some of these are:
ii. Data analysis/ data mining skills. Knowledge of Excel, R, Python, data visualization, Tableau, RapidMiner, machine learning, and financial modeling skills are essential in finance and business.
iii. Skills and knowledge of artificial intelligence and machine learning will give more opportunities and help career development.
iv. Network security and cybersecurity are essential to protect financial transactions and digital data.
v. Knowledge of financial regulations and risk management will be in high demand in the next 3-5 years.
vi. Soft skills such as politeness, ability to work in a diverse group, good communication, learning attitude, etc, are also necessary.
vii. Many industry and business companies today focus on sustainable development and environmental, social, and governance activities. Knowledge of sustainability and ESG measures is also helpful.
viii. Broad knowledge of global financial markets, international finance, global economy, etc., will be valuable in the next 3-5 years.
What Finance Quantitative Analyst skills would you recommend for someone trying to advance their career?
Dhruba Banjade: Everyone's career journey is unique and different. As a finance professor, I suggest a few things to graduates beginning their careers.
i. Learning is a continuous process and essential. Even after graduation, learn and enhance new skills. The person must be familiar with the latest industry trends.
ii. Building a good network helps with career development. I suggest attending industry events and connecting with many friends and colleagues on social networks such as LinkedIn.
iii. I further suggest to improve verbal and written communication. It helps in career development.
iv. Understanding basic financial principles is essential. For example, the person must be familiar with economic and income statement analyses, budgeting, profit/loss, and savings.
John Clark Ph.D., CFA, CFP
Chair, Dept. of FinanceUniversity of Nevada - Las Vegas
Geological And Earth Sciences/Geosciences
What general advice would you give to a Finance Quantitative Analyst?
John Clark Ph.D., CFA, CFP: Show you have experience. Doing an internship is a great way to increase your starting salary. I always advocate for doing applied research, this is research that you can show has implications for society - science for the sake of science is not good science! Obtaining an MS degree is also a good way to increase your salary, especially if your MS degree is relevant to your future job.
What will help Finance Quantitative Analysts increase their earning potential?
John Clark Ph.D., CFA, CFP: Interdisciplinary research is becoming more and more important. For example combining geophysics, geochemistry and good old fashioned field mapping. Combining these different datasets provides a holistic understanding of a range of processes and offers a greater chance of success. The other thing that is definitely more prevalent now is the use of machine learning, this means the volume of data we can process and interpret is hugley increasing!
David Feldman Ph.D.
Professor of Urban Planning and Public Policy and Political Science, Director, Water UCI, Director, MPP ProgramUniversity of California, Irvine
Urban Planning and Public Policy
What skills stand out on Finance Quantitative Analyst resumes?
David Feldman Ph.D.: Succinct writing, critical thinking, strong quantitative analytical skills.