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Quantitative Analyst Salary (United States)

Quantitative Analysts in the United States can expect wages of $82K annually on average. Location is the biggest factor affecting pay for this group, followed by career duration. For the most part, Quantitative Analysts enjoy their work and report high levels of job satisfaction. Generally, women make up less than a third of all Quantitative Analysts who answered the questionnnaire. Medical benefits are awarded to most, and a strong majority earn dental coverage. Participants in PayScale's salary questionnaire provided the particulars of this report.
Quantitative Analyst Salary (?
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.
)
$50,898 - $118,032
(Median)
51K
62K
82K
100K
120K
MEDIAN: $81,683
10%
25%
50%
75%
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
$50,898 - $118,032  
   
Bonus
$988 - $33,935  
Profit Sharing
$1,474 - $20,112  
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).
)
$51,226 - $136,393  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 279
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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 respondents exploit a significant toolbox of skills in their work. Most notably, facility with VBA, C++, and Python are correlated to pay that is significantly above average, leading to increases of 23 percent, 18 percent, and 17 percent, respectively. Skills that seem to negatively impact pay include Microsoft Excel, Statistical Analysis, and SQL. Most people skilled in Data Modeling are similarly competent in Matlab. Most people familiar with Data Analysis also know Microsoft Excel and SQL.

Pay Difference By Location

Houston
up arrow 33%
up arrow 27%
San Francisco
up arrow 24%
National Average
$86,000
Chicago
up arrow 1%
Washington
up arrow 1%
up arrow 11%
Larger circles over a city indicate a job is popular in that location.
With a pay rate for Quantitative Analysts that is 33 percent greater than the national average, Houston offers a comfortable salary for those in this profession. Quantitative Analysts will also find cushy salaries in New York (+27 percent) and San Francisco (+24 percent). Boston is home to the smallest salaries in the field, lagging the national average by 11 percent. Employers also pay below the national average in Washington and Chicago (1 percent lower).

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Experience Affects Quantitative Analyst Salaries

National Average
$86,000

Skills That Affect Quantitative Analyst Salaries

VBA
up arrow 23%
C++
up arrow 18%
Python
up arrow 17%
up arrow 16%
Financial Modeling
up arrow 13%
Data Modeling
up arrow 3%
National Average
$86,000
Data Analysis
up arrow 1%
SAS
up arrow 2%
SQL
up arrow 4%
Statistical Analysis
up arrow 5%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 45 votes.

Gender

Female
24%
female alumni
 
Male
76%
male alumni

Years of Experience

Less than 1 year
19%
1-4 years
54%
5-9 years
20%
10-19 years
6%
20 years or more
0%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 74%
vision benefits Vision: 62% employee benefits None: 11%