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The differences between quantitative analysts and risk 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 risk analyst. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $81,484 average annual salary of a risk analyst.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.
| Quantitative Analyst | Risk Analyst | |
| Yearly salary | $101,197 | $81,484 |
| Hourly rate | $48.65 | $39.17 |
| Growth rate | 9% | 9% |
| Number of jobs | 48,644 | 71,284 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 71% |
| 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.
As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.
Quantitative analysts and risk analysts have different pay scales, as shown below.
| Quantitative Analyst | Risk Analyst | |
| Average salary | $101,197 | $81,484 |
| Salary range | Between $68,000 And $148,000 | Between $59,000 And $112,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a quantitative analyst and a risk analyst in terms of educational background:
| Quantitative Analyst | Risk Analyst | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 71% |
| Most common major | Finance | Business |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between quantitative analysts' and risk analysts' demographics:
| Quantitative Analyst | Risk Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 53.4% Female, 46.6% |
| 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% |