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The differences between quantitative analysts and data 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 data analyst. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $74,342 average annual salary of a data analyst.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for a data analyst are data analysis, python, and power bi.
| Quantitative Analyst | Data Analyst | |
| Yearly salary | $101,197 | $74,342 |
| Hourly rate | $48.65 | $35.74 |
| Growth rate | 9% | 11% |
| Number of jobs | 48,644 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 65% |
| 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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Quantitative analysts and data analysts have different pay scales, as shown below.
| Quantitative Analyst | Data Analyst | |
| Average salary | $101,197 | $74,342 |
| Salary range | Between $68,000 And $148,000 | Between $53,000 And $103,000 |
| Highest paying City | New York, NY | Richmond, CA |
| Highest paying state | New York | New Jersey |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Technology | Finance |
There are a few differences between a quantitative analyst and a data analyst in terms of educational background:
| Quantitative Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 65% |
| Most common major | Finance | Business |
| Most common college | University of Notre Dame | Northwestern University |
Here are the differences between quantitative analysts' and data analysts' demographics:
| Quantitative Analyst | Data Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 50.2% Female, 49.8% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |