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The differences between quantitative analysts and contract 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 contract analyst. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $54,544 average annual salary of a contract analyst.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for a contract analyst are customer service, contract management, and contract terms.
| Quantitative Analyst | Contract Analyst | |
| Yearly salary | $101,197 | $54,544 |
| Hourly rate | $48.65 | $26.22 |
| Growth rate | 9% | 9% |
| Number of jobs | 48,644 | 58,593 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 67% |
| Average age | 40 | 40 |
| 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.
A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.
Quantitative analysts and contract analysts have different pay scales, as shown below.
| Quantitative Analyst | Contract Analyst | |
| Average salary | $101,197 | $54,544 |
| Salary range | Between $68,000 And $148,000 | Between $39,000 And $74,000 |
| Highest paying City | New York, NY | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | The Citadel | AstraZeneca |
| Best paying industry | Technology | Pharmaceutical |
There are a few differences between a quantitative analyst and a contract analyst in terms of educational background:
| Quantitative Analyst | Contract Analyst | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 67% |
| Most common major | Finance | Business |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between quantitative analysts' and contract analysts' demographics:
| Quantitative Analyst | Contract Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 41.2% Female, 58.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |