Quantitative Analyst Salary

Median pay for Quantitative Analysts in the United States is around $84K annually. In the world of Quantitative Analysts, total cash compensation can vary between $52K and $142K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $36K and $20K, respectively. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Medical benefits are awarded to most, and a strong majority earn dental coverage. Making up 76 percent of those who took the survey, male Quantitative Analysts greatly outnumber their female counterparts. The majority of Quantitative Analysts claim high levels of job satisfaction. This snapshot results from replies to PayScale's salary survey.
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$51,984 - $120,575
(Median)
$52K
$84K
$120K
MEDIAN: $83,598
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
$51,984 - $120,575  
   
Bonus
$1,035 - $35,652  
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).
)
$52,248 - $141,589  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 347
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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


Survey results imply that Quantitative Analysts deploy a deep pool of skills on the job. Most notably, facility with Python, C++, and Statistical Analysis are correlated to pay that is significantly above average, leading to increases of 24 percent, 20 percent, and 17 percent, respectively. Skills that seem to negatively impact pay include Microsoft Excel, Data Analysis, and SAS. Those familiar with Data Modeling tend to be well versed in Matlab and Microsoft Excel. Those familiar with Data Analysis also tend to know Microsoft Excel and SQL.

Pay Difference by Location


Quantitative Analysts will find that New York offers an impressive pay rate, one which exceeds the national average by 29 percent. Quantitative Analysts can also look forward to large paychecks in cities like San Francisco (+28 percent), Houston (+18 percent), Atlanta (+3 percent), and Chicago (+2 percent). Those in the field find the lowest salaries in Washington, 18 percent below the national average. Two other places where employers offer below-median salaries are Minneapolis (9 percent less) and Cincinnati (7 percent less).

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Experience Affects Quantitative Analyst Salaries



National Average
$89,000


Skills That Affect Quantitative Analyst Salaries

Python
up arrow 24%

C++
up arrow 20%

VBA
up arrow 17%

Statistical Analysis
up arrow 17%

up arrow 13%

Financial Modeling
up arrow 13%

Financial Analysis
up arrow 11%

R
up arrow 6%

Data Modeling
up arrow 3%

SQL
0%

National Average
$89,000

SAS
up arrow 3%

Data Analysis
up arrow 4%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 42 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

Less than 1 year
19%
1-4 years
53%
5-9 years
21%
10-19 years
7%
20 years or more
0%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 77%
vision benefits Vision: 65% employee benefits None: 9%
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