Financial Engineer Salary
Men make up the majority of Financial Engineers in the United States, and the nationwide average salary in this area lies in the neighborhood of $82K annually. Career length is the biggest factor affecting pay for this group, followed by geography. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most workers in this position report high levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Job Description for Financial Engineer
Financial engineers work for financial institutions, such as banks, investment houses, and mutual fund companies, and must be proficient in applied mathematics, economic theory, statistics, and computer science for success.Read More...
Financial engineers must know how to use mathematical and analytical tools to create algorithms to be used in financial analysis, and also work to provide financial analyses of their company's new products and asset classes. They may suggest program changes if necessary and must be proficient with relevant software and computer applications and Microsoft Office programs (Word, Excel, Power Point and Outlook). They should also be able to multitask and work well under pressure.
Financial engineers must have strong communication skills and be able to work in a team environment, and some may attend relevant training classes or conferences to keep their skills up-to-date.
Financial Engineer Tasks
- Develop analytical systems and strategies for financial decisionmaking.
- Research trends in big data, fiscal services, and credit assessment procedures.
- Act as gobetween for clients and professional IT team.
- Provide backend development for analytical processes.