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Quantitative Analyst Salary

Quantitative Analysts in the United States can expect to earn an average of $84K annually. In the world of Quantitative Analysts, overall cash allowance can occasionally include more than $36K from bonuses and, in some exceptional cases, $20K from profit sharing, causing incomes to vary widely between $53K and $142K. Location is the biggest factor affecting pay for this group, followed by tenure. The majority of workers are highly satisfied with their job. Medical benefits are awarded to most, and a strong majority earn dental coverage. Male Quantitative Analysts are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Respondents to the PayScale salary survey provided the data for this report.
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$52,395 - $120,762
(Median)
$52K
$84K
$120K
MEDIAN: $83,699
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$52,395 - $120,762  
   
Bonus
$1,025 - $36,198  
Profit Sharing
$0.00 - $20,386  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$52,892 - $142,243  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 332

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Job Description for Quantitative Analyst

Quantitative analysts, or "quants," are masters of statistics who work in the financial world. They analyze statistics and market trends to make determinations based on the study and analysis of current financial trends and past economic patterns. Using this information, they create models for trading equities and futures. These financial engineers use educated speculation and logical analysis to make the best possible investment decisions for their employers. They work with a team of mathematicians, engineers and physicists to develop optimal systematic strategies for trading stock. They also write programs, research and perform daily statistical analysis, and solve problems to optimize trading strategies. This requires working with high-end mathematics to determine the appropriate levels of risk management and derivative pricing. They must also maintain and modify these analytical models while in use and define and recommend model specifications or data collection methods. Quantitative analysts produce written summaries interpreting results of their analytical procedures to present to their employers and clients. Using all this information, they write requirement documentation that will be used by software developers. Their duties also include researching new products or analytics to determine their usefulness in the marketplace. Quantitative analysts generally work in financial institutions or high-end offices. This position may also have the privilege of working from home. In order to perform well in this position, the analyst must have an advanced knowledge of calculus, engineering, and game theory and superb programming skills, especially in C++. This highly competitive field requires a well-rounded analytical education with emphasis on mathematics and computer skills. Most employers require a master's degree or PhD in a specialized finance field. Continued education is also required to stay abreast of changing technology.


Quantitative Analyst Tasks

  • Perform risk analytics, loan pricing, and default risk modeling,
  • Design tests and experiments to collect data and test new models and programs
  • Assist in the construction and execution of portfolio management.
  • Research and analyze market statistics to develop, test, validate, execute, and maintain analytical software programs and quantitative models.
  • Query, consolidate, and present data to senior management.

Quantitative Analyst Job Listings

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Popular Skills for Quantitative Analyst


Quantitative Analysts seem to exploit a large range of skills on the job. Most notably, facility with Python, C++, and R are correlated to pay that is significantly above average, leading to increases of 24 percent, 20 percent, and 18 percent, respectively. At the other end of the pay range are skills like Microsoft Excel and SAS. Those familiar with Data Analysis also tend to know Microsoft Excel and SQL. A tool kit that includes Data Modeling also typically contains Matlab.

Pay Difference by Location


For Quantitative Analysts, working in the bustling city of New York has its advantages, including an above-average pay rate. Quantitative Analysts can also look forward to large paychecks in cities like San Francisco (+28 percent), Houston (+18 percent), Atlanta (+3 percent), and Chicago (+1 percent). Washington ranks last in the field for pay, reporting salaries 18 percent below the national average. Employers pay around 7 percent less in Cincinnati and 6 percent less in Boston, below-median salaries for those in this field.

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United States (change)

Experience Affects Quantitative Analyst Salaries



National Average
$89,000


Skills That Affect Quantitative Analyst Salaries

Python
up arrow 24%

C++
up arrow 20%

R
up arrow 18%

Statistical Analysis
up arrow 17%

VBA
up arrow 16%

up arrow 13%

Financial Modeling
up arrow 12%

Financial Analysis
up arrow 11%

Data Modeling
up arrow 3%

National Average
$89,000

SQL
up arrow 1%

Data Analysis
up arrow 2%

SAS
up arrow 4%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 44 votes.

Gender

Female
23 %
Male
77 %

Years of Experience

Less than 1 year
18%
1-4 years
54%
5-9 years
20%
10-19 years
7%
20 years or more
0%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 77%
vision benefits Vision: 64% employee benefits None: 9%
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