Financial Quantitative Analyst Career

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Finance Careers | Financial Quantitative Analyst

Financial Quantitative Analyst

Career Area: Finance

Occupation Group: Financial Analysis

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Financial Quantitative Analyst earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $100,839

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $102,014

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Develops mathematical or statistical models used in the financial sector. Applies models and quantitative methods to analyze securities or other business data; provides analysis used to inform investment and trading strategies and manage risk.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

Growth
North Carolina339+14.1%
Nationwide6057+9.6%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Financial Quantitative Analyst is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Teamwork / Collaboration: A Collaboration is a purposeful relationship in which all parties strategically choose to cooperate in order to achieve shared or overlapping objectives.
  • Decision Making: In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.
  • Research: Research comprises creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of humans, culture and society, and the use of this stock of knowledge to devise new applications. It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories.
  • Writing: Writing is a medium of human communication that represents language and emotion with signs and symbols.

Specialized Skills

These skills are specific to working in this career:

  • SAS: SAS (previously Statistical Analysis System) is a software suite developed by SAS Institute for advanced analytics, multivariate analyses, business intelligence, data management, and predictive analytics.
  • Risk Management: Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
  • Python: Python is a widely used high-level programming language for general-purpose programming, created by Guido van Rossum and first released in 1991.
  • Economics: Economics (UK English: , ; US English: , ) is a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services.
  • SQL: SQL ( ESS-kew-EL or SEE-kwl, Structured Query Language) is a domain-specific language used in programming and designed for managing data held in a relational database management system (RDBMS), or for stream processing in a relational data stream management system (RDSMS).

Distinguishing Skills

Any Financial Quantitative Analyst that possesses the following skills will stand out against the competition:

  • Basel: Working experience of Basel. Basel I is a set of international banking regulations put forth by the Basel Committee on Bank Supervision (BCBS) that sets out the minimum capital requirements of financial institutions with the goal of minimizing credit risk.
  • Anti Money Laundering (AML): Working experience of Anti Money Laundering (AML). Anti money laundering (AML) refers to a set of procedures, laws and regulations designed to stop the practice of generating income through illegal actions.
  • Financial Modeling: Financial modeling is the task of building an abstract representation (a model) of a real world financial situation.
  • Market Risk: Working experience of Market Risk. Market risk is the possibility of an investor experiencing losses due to factors that affect the overall performance of the financial markets in which he or she is involved. Market risk, also called systematic risk, cannot be eliminated through diversification, though it can be hedged against.
  • Fixed Income: Working experience of Fixed Income, which is a type of investment in which real return rates or periodic income is received at regular intervals and at reasonably predictable levels. Fixed-income investments can be used to diversify one's portfolio, as they pose less risk than equities and derivative investments.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Risk Modeling: Working experience of Risk Modeling. Risk modelling is about modeling and quantification of risk. For the financial industry, the cases of credit-risk quantifying potential losses due, e.g., to bankruptcy of debtors, or market-risks quantifying potential losses due to negative fluctuations of a portfolio's market value are of particular relevance. Operational risk, quantifying potential losses incurred due to failing processes is a relevant issue for any form of organization.
  • Financial Derivatives Pricing: Working experience of Financial Derivatives Pricing. The goal of derivatives pricing is to determine the fair price of a given security in terms of more liquid securities whose price is determined by the law of supply and demand.
  • Time Series Analysis: Working experience of Time Series Analysis, which comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series forecasting is the use of a model to predict future values based on previously observed values. Time series analysis can be applied to real-valued, continuous data, discrete numeric data, or discrete symbolic data (i.e. sequences of characters, such as letters and words in the English language).
  • Investment Strategy: In finance, an investment strategy is a set of rules, behaviors or procedures, designed to guide an investor's selection of an investment portfolio.
  • Application Lifecycle Management: Working experience of Application Lifecycle Management, which is the product lifecycle management (governance, development, and maintenance) of computer programs. It encompasses requirements management, software architecture, computer programming, software testing, software maintenance, change management, continuous integration, project management, and release management.

Education

This career typically requires the following level of education. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list education requirements.

.
Education Level%
Bachelor's Degree35%
Master's Degree60%
Doctoral Degree5%

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years22%
3 to 5 years54%
6 to 8 years18%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Quantitative Model Analyst
  • Senior Quantitative Model Validation Analyst
  • Quantitative Model Analyst - Pre-Provision .Net Revenue
  • Quantitative Analyst
  • Quantitative Model Analyst Team Lead

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