What is a Quantitative Analyst

A Quantitative Analyst, or a 'quant' as they are known in some communities, is a statistical and mathematical expert who uses the knowledge and methods from both subjects in order to do financial and risk assessment and management. A quant often chooses to specialize in a certain area of finance or, rather, quantitative analysis, such as trading, or risk management, or investment management.

They usually create and implement models to be used by companies, and create and maintain or search already existing databases, in hopes of collecting enough information to find a pattern or clues for what might come. They use various financial and analysis tools, apply systems, and work with teams of mathematicians, analysts, and IT professionals on various projects. They are often also hired as consultants.

A person hoping to begin work as a Quantitative Analyst will generally need to have a Master's degree in Quantitative Finance, Mathematical Finance or Engineering, or Operations Research, or a similar subject.

There is more than meets the eye when it comes to being a Quantitative Analyst. For example, did you know that they make an average of $42.12 an hour? That's $87,619 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.

What Does a Quantitative Analyst Do

There are certain skills that many Quantitative Analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Computer skills, Detail oriented and Math skills.

Learn more about what a Quantitative Analyst does

How To Become a Quantitative Analyst

If you're interested in becoming a Quantitative Analyst, one of the first things to consider is how much education you need. We've determined that 53.1% of Quantitative Analysts have a bachelor's degree. In terms of higher education levels, we found that 36.0% of Quantitative Analysts have master's degrees. Even though most Quantitative Analysts have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a Quantitative Analyst. When we researched the most common majors for a Quantitative Analyst, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Quantitative Analyst resumes include Doctoral Degree degrees or Associate Degree degrees.

You may find that experience in other jobs will help you become a Quantitative Analyst. In fact, many Quantitative Analyst jobs require experience in a role such as Research Assistant. Meanwhile, many Quantitative Analysts also have previous career experience in roles such as Internship or Data Analyst.

What is the right job for my career path?

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And if you’re looking for a job, here are the five top employers hiring now:

  1. Google Jobs (541)
  2. Bloomberg Jobs (76)
  3. Citigroup Jobs (431)
  4. Ernst & Young Jobs (61)
  5. Milliman Jobs (44)
Average Salary
$87,619
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
50,594
Job Openings
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Average Salary for a Quantitative Analyst

Quantitative Analysts in America make an average salary of $87,619 per year or $42 per hour. The top 10 percent makes over $132,000 per year, while the bottom 10 percent under $57,000 per year.
Average Salary
$87,619
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Choose From 10+ Customizable Quantitative Analyst Resume templates

Zippia allows you to choose from different easy-to-use Quantitative Analyst templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Quantitative Analyst resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Quantitative Analyst Demographics

Quantitative Analyst Gender Statistics

male

79.5 %

female

20.5 %

Quantitative Analyst Ethnicity Statistics

White

58.6 %

Asian

21.3 %

Hispanic or Latino

9.5 %

Quantitative Analyst Foreign Languages Spoken Statistics

Mandarin

27.2 %

Chinese

16.0 %

Spanish

8.6 %
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Quantitative Analyst Education

Quantitative Analyst Majors

22.2 %
12.2 %

Quantitative Analyst Degrees

Bachelors

53.1 %

Masters

36.0 %

Doctorate

9.1 %

Top Colleges for Quantitative Analysts

1. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition
$53,391
Enrollment
8,568

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Carnegie Mellon University

Pittsburgh, PA • Private

In-State Tuition
$55,465
Enrollment
6,483

4. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

5. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

6. Johns Hopkins University

Baltimore, MD • Private

In-State Tuition
$53,740
Enrollment
5,567

7. Massachusetts Institute of Technology

Cambridge, MA • Private

In-State Tuition
$51,832
Enrollment
4,550

8. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

9. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

10. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083
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Online Courses For Quantitative Analyst That You May Like

Finance & Quantitative Modeling for Analysts
coursera

The role of an Analyst is dynamic, complex, and driven by a variety of skills. These skills range from a basic understanding of financial statement data and non-financial metrics that can be linked to financial performance, to a deeper dive into business and financial modeling. Analysts also utilize spreadsheet models, modeling techniques, and common investment analysis application as part of their toolkit to make informed financial decisions and investments.\n\nThis multifaceted specialization...

The Complete Financial Analyst Training & Investing Course
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Succeed as a Financial Analyst & Investor by Award Winning MBA Prof who worked @Goldman, in Hedge Funds & Venture Capital...

Algorithmic Trading & Quantitative Analysis Using Python
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Build fully automated trading system and Implement quantitative trading strategies using Python...

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Top Skills For a Quantitative Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 13.2% of Quantitative Analysts listed Python on their resume, but soft skills such as Computer skills and Detail oriented are important as well.

Best States For a Quantitative Analyst

Some places are better than others when it comes to starting a career as a Quantitative Analyst. The best states for people in this position are New York, New Jersey, Connecticut, and New Hampshire. Quantitative Analysts make the most in New York with an average salary of $109,457. Whereas in New Jersey and Connecticut, they would average $100,164 and $99,103, respectively. While Quantitative Analysts would only make an average of $95,927 in New Hampshire, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Quantitative Analyst Jobs:
1,305
Highest 10% Earn:
$156,000
Location Quotient:
1.83
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Connecticut

Total Quantitative Analyst Jobs:
174
Highest 10% Earn:
$142,000
Location Quotient:
0.94
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New Jersey

Total Quantitative Analyst Jobs:
412
Highest 10% Earn:
$143,000
Location Quotient:
0.93
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Quantitative Analysts

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Top Quantitative Analyst Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ Quantitative Analysts and discovered their number of Quantitative Analyst opportunities and average salary. Through our research, we concluded that Google was the best, especially with an average salary of $144,757. Citigroup follows up with an average salary of $118,851, and then comes Fifth Third Bank with an average of $98,926. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a Quantitative Analyst. The employers include U.S. Bank, M&T; Bank, and Aspire Public Schools

Most Common Employers For Quantitative Analyst

RankCompanyZippia ScoreAverage Quantitative Analyst SalaryAverage Salary
1$144,757
2$120,431
3$118,851
4$114,499
5$113,900
6$108,386

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