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The differences between quantitative analysts and summer 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 summer analyst. Additionally, a quantitative analyst has an average salary of $101,197, which is higher than the $66,837 average annual salary of a summer analyst.
The top three skills for a quantitative analyst include python, SAS and risk management. The most important skills for a summer analyst are strong analytical, financial statements, and capital markets.
| Quantitative Analyst | Summer Analyst | |
| Yearly salary | $101,197 | $66,837 |
| Hourly rate | $48.65 | $32.13 |
| Growth rate | 9% | 9% |
| Number of jobs | 48,644 | 44,912 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 80% |
| 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.
Summer analysts are people who undertake an internship within a banking institution. These professionals perform analyses of detailed financial and corporate information. They establish statistical exhibits analyzing comparative financial performance. It is their responsibility to create models illustrating projected financial results, which is of great value to the companies. The skills necessary for this job include knowledge of financial statements, equity, portfolio companies, and financial models. They should also develop due diligence, strong communication, asset allocation knowledge, and attention to detail.
Quantitative analysts and summer analysts have different pay scales, as shown below.
| Quantitative Analyst | Summer Analyst | |
| Average salary | $101,197 | $66,837 |
| Salary range | Between $68,000 And $148,000 | Between $43,000 And $102,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | The Citadel | - |
| Best paying industry | Technology | - |
There are a few differences between a quantitative analyst and a summer analyst in terms of educational background:
| Quantitative Analyst | Summer Analyst | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 80% |
| Most common major | Finance | Finance |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between quantitative analysts' and summer analysts' demographics:
| Quantitative Analyst | Summer Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 79.5% Female, 20.5% | Male, 72.5% Female, 27.5% |
| 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% |