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The differences between quantitative analysts and actuaries can be seen in a few details. Each job has different responsibilities and duties. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $88,255 average annual salary of an actuary.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for an actuary are risk management, VBA, and GAAP.
| Quantitative Analyst | Actuary | |
| Yearly salary | $101,197 | $88,255 |
| Hourly rate | $48.65 | $42.43 |
| Growth rate | 9% | 21% |
| Number of jobs | 48,644 | 13,566 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 83% |
| Average age | 40 | 39 |
| Years of experience | 4 | - |
A quantitative analyst is trained to gather quantitative methods to help companies do business and make other related decisions. In the world of trading, quantitative analysts are in demand. It is their job as quantitative analysts to help banks value their securities. They identify cost-effective investment opportunities and measure risk. They can also work for the insurance companies to develop pricing models and assess risk evaluation strategies. Also, some quantitative analysts work on the back end to enhance computer software and to evaluate financial data.
An actuary specializes in performing research and analysis to assess risks and help companies prepare for any financial disadvantages or impact it may bring. Their responsibilities revolve around coordinating with different departments to gather accurate data, maintain records of all transactions, evaluate the data through various processes, and develop new strategies to cut down costs and risks. An actuary is also responsible for performing clerical tasks such as producing reports through graphs and charts, preparing presentations, answering inquiries and concern, all while adhering to the company's policies and regulations.
Quantitative analysts and actuaries have different pay scales, as shown below.
| Quantitative Analyst | Actuary | |
| Average salary | $101,197 | $88,255 |
| Salary range | Between $68,000 And $148,000 | Between $52,000 And $147,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | The Citadel | PayPal |
| Best paying industry | Technology | Professional |
There are a few differences between a quantitative analyst and an actuary in terms of educational background:
| Quantitative Analyst | Actuary | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 83% |
| Most common major | Finance | Mathematics |
| Most common college | University of Notre Dame | University of Notre Dame |
Here are the differences between quantitative analysts' and actuaries' demographics:
| Quantitative Analyst | Actuary | |
| Average age | 40 | 39 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 74.3% Female, 25.7% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | Black or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 5.1% Asian, 17.3% White, 71.4% American Indian and Alaska Native, 0.0% |
| LGBT Percentage | 7% | 18% |