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The differences between quantitative analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a quantitative analyst and a business analyst. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $74,431 average annual salary of a business analyst.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Quantitative Analyst | Business Analyst | |
| Yearly salary | $101,197 | $74,431 |
| Hourly rate | $48.65 | $35.78 |
| Growth rate | 9% | 9% |
| Number of jobs | 48,644 | 170,514 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 71% |
| Average age | 40 | 44 |
| Years of experience | 4 | 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.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Quantitative analysts and business analysts have different pay scales, as shown below.
| Quantitative Analyst | Business Analyst | |
| Average salary | $101,197 | $74,431 |
| Salary range | Between $68,000 And $148,000 | Between $53,000 And $103,000 |
| Highest paying City | New York, NY | Mountain View, CA |
| Highest paying state | New York | Washington |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Technology | Finance |
There are a few differences between a quantitative analyst and a business analyst in terms of educational background:
| Quantitative Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 71% |
| Most common major | Finance | Business |
| Most common college | University of Notre Dame | Stanford University |
Here are the differences between quantitative analysts' and business analysts' demographics:
| Quantitative Analyst | Business Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 53.9% Female, 46.1% |
| 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, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 11% |