Financial Quantitative Analysts
Develop quantitative techniques to inform securities investing, equities investing, pricing, or valuation of financial instruments. Develop mathematical or statistical models for risk management, asset optimization, pricing, or relative value analysis.
Sample of reported job titles: Investment Strategist, Portfolio Manager, Quantitative Analyst, Quantitative Research Analyst, Quantitative Strategy Analyst, Research Analyst
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Tasks | Technology Skills | Tools Used | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Wages & Employment | Job Openings | Additional Information
- Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
- Provide application or analytical support to researchers or traders on issues such as valuations or data.
- Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
- Maintain or modify all financial analytic models in use.
- Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
- Research new financial products or analytics to determine their usefulness.
- Devise or apply independent models or tools to help verify results of analytical systems.
- Define or recommend model specifications or data collection methods.
- Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
- Interpret results of financial analysis procedures.
- Collaborate with product development teams to research, model, validate, or implement quantitative structured solutions for new or expanded markets.
- Produce written summary reports of financial research results.
- Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
- Identify, track, or maintain metrics for trading system operations.
- Prepare requirements documentation for use by software developers.
- Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
Find occupations related to multiple tasks
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- Analytical or scientific software — IBM SPSS Statistics ; Insightful S-PLUS; SAS ; The MathWorks MATLAB (see all 5 examples)
- Business intelligence and data analysis software — MicroStrategy
- Data base management system software — Apache Hive
- Data base user interface and query software — Microsoft Access ; Microsoft SQL Server ; Structured query language SQL
- Data mining software — IBM Cognos Business Intelligence
- Development environment software — Microsoft Visual Basic ; Microsoft Visual Basic for Applications VBA ; Microsoft Visual Studio
- Enterprise resource planning ERP software — Microsoft Dynamics ; MicroStrategy Desktop; Oracle JD Edwards EnterpriseOne
- Financial analysis software — Bloomberg Professional
- Internet browser software — Web browser software
- Object or component oriented development software — C# ; C++ ; Perl ; R (see all 5 examples)
- Office suite software — Microsoft Office
- Operating system software — Linux ; UNIX
- Presentation software — Microsoft PowerPoint
- Process mapping and design software — Microsoft Visio
- Spreadsheet software — Microsoft Excel
Hot Technology — a technology requirement frequently included in employer job postings.
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- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Engineering and Technology — Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
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- Mathematics — Using mathematics to solve problems.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Reading Comprehension — Understanding written sentences and paragraphs in work-related documents.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking — Talking to others to convey information effectively.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Persuasion — Persuading others to change their minds or behavior.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Systems Evaluation — Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
- Coordination — Adjusting actions in relation to others’ actions.
- Instructing — Teaching others how to do something.
- Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Social Perceptiveness — Being aware of others’ reactions and understanding why they react as they do.
- Time Management — Managing one’s own time and the time of others.
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- Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
- Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
- Speech Recognition — The ability to identify and understand the speech of another person.
- Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Speech Clarity — The ability to speak clearly so others can understand you.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Originality — The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
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- Working with Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Estimating the Quantifiable Characteristics of Products, Events, or Information — Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Monitoring Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Communicating with People Outside the Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
- Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
- Providing Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
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Detailed Work Activities
- Apply mathematical models of financial or business conditions.
- Advise others on analytical techniques.
- Develop business or financial information systems.
- Assess the cost effectiveness of products, projects, or services.
- Confer with personnel to coordinate business operations.
- Analyze business or financial data.
- Develop financial analysis methods.
- Prepare financial documents, reports, or budgets.
- Discuss business strategies, practices, or policies with managers.
- Monitor business indicators.
- Develop technical specifications for systems or equipment.
- Analyze risks related to investments in green technology.
- Measure effectiveness of business strategies or practices.
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- Electronic Mail — 100% responded “Every day.”
- Spend Time Sitting — 83% responded “Continually or almost continually.”
- Duration of Typical Work Week — 87% responded “More than 40 hours.”
- Importance of Being Exact or Accurate — 74% responded “Extremely important.”
- Indoors, Environmentally Controlled — 91% responded “Every day.”
- Face-to-Face Discussions — 64% responded “Every day.”
- Level of Competition — 61% responded “Extremely competitive.”
- Telephone — 50% responded “Every day.”
- Freedom to Make Decisions — 45% responded “A lot of freedom.”
- Structured versus Unstructured Work — 61% responded “Some freedom.”
- Impact of Decisions on Co-workers or Company Results — 39% responded “Very important results.”
- Work With Work Group or Team — 43% responded “Very important.”
- Consequence of Error — 35% responded “Extremely serious.”
- Contact With Others — 57% responded “Contact with others most of the time.”
- Time Pressure — 52% responded “Once a week or more but not every day.”
- Frequency of Decision Making — 39% responded “Once a month or more but not every week.”
- Responsibility for Outcomes and Results — 35% responded “High responsibility.”
- Importance of Repeating Same Tasks — 26% responded “Very important.”
- Coordinate or Lead Others — 35% responded “Important.”
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|Title||Job Zone Five: Extensive Preparation Needed|
|Education||Most of these occupations require graduate school. For example, they may require a master’s degree, and some require a Ph.D., M.D., or J.D. (law degree).|
|Related Experience||Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.|
|Job Training||Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.|
|Job Zone Examples||These occupations often involve coordinating, training, supervising, or managing the activities of others to accomplish goals. Very advanced communication and organizational skills are required. Examples include pharmacists, lawyers, astronomers, biologists, clergy, neurologists, and veterinarians.|
|SVP Range||(8.0 and above)|
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Percentage of Respondents
|Education Level Required|
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Interest code: IC Want to discover your interests? Take the O*NET Interest Profiler at My Next Move.
- Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
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- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Persistence — Job requires persistence in the face of obstacles.
- Integrity — Job requires being honest and ethical.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
- Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Independence — Job requires developing one’s own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Self-Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
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- Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
- Recognition — Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
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Wages & Employment Trends
Median wage data for Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other.
Employment data for Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other.
Industry data for Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists, All Other.
|Median wages (2020)||$40.22 hourly, $83,660 annual|
|Employment (2020)||492,100 employees|
|Projected growth (2020-2030)||Average (5% to 10%)|
|Projected job openings (2020-2030)||41,000|
|Top industries (2020)||
Finance and Insurance
Management of Companies and Enterprises
Source: Bureau of Labor Statistics 2020 wage data and 2020-2030 employment projections . “Projected growth” represents the estimated change in total employment over the projections period (2020-2030). “Projected job openings” represent openings due to growth and replacement.
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Job Openings on the Web
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Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- CFA Institute
- Chartered Alternative Investment Analyst Association
- Chicago Quantitative Alliance
- Financial Industry Regulatory Authority
- International Association for Quantitative Finance
- Occupational Outlook Handbook: Financial analysts
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