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 Portfolio Control Consultant, Investment Strategist, Portfolio Manager, Quantitative Analyst, Quantitative Equity Analyst, Quantitative Research Analyst, Quantitative Strategy Analyst, Research Analyst

Occupation-Specific Information

Tasks

  • Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
  • Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
  • Interpret results of financial analysis procedures.
  • Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
  • Define or recommend model specifications or data collection methods.
  • Produce written summary reports of financial research results.
  • Maintain or modify all financial analytic models in use.
  • Provide application or analytical support to researchers or traders on issues such as valuations or data.
  • Devise or apply independent models or tools to help verify results of analytical systems.
  • Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
  • Confer with other financial engineers or analysts on trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
  • Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
  • Research new financial products or analytics to determine their usefulness.
  • Identify, track, or maintain metrics for trading system operations.
  • Develop methods of assessing or measuring corporate performance in terms of environmental, social, and governance (ESG) issues.
  • Collaborate with product development teams to research, model, validate, or implement quantitative structured solutions for new or expanded markets.
  • Prepare requirements documentation for use by software developers.
  • Develop solutions to help clients hedge carbon exposure or risk.
  • Develop tools to assess green technologies or green financial products, such as green hedge funds or social responsibility investment funds.
  • Assess the potential impact of climate change on business financial issues, such as damage repairs, insurance costs, or potential disruptions of daily activities.
  • Analyze pricing or risks of carbon trading products.

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Technology Skills

Hot technology
Hot Technologies are requirements most frequently included across all employer job postings.
In demand
In Demand skills are frequently included in employer job postings for this occupation.

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Occupational Requirements

Work Activities

  • 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.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • 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.
  • 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.
  • Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
  • 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.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Providing Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
  • Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
  • 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.
  • Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
  • Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
  • Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

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Detailed Work Activities

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Work Context

  • Electronic Mail — 95% responded “Every day.”
  • Spend Time Sitting — 70% responded “Continually or almost continually.”
  • Duration of Typical Work Week — 75% responded “More than 40 hours.”
  • Level of Competition — 58% responded “Extremely competitive.”
  • Telephone — 50% responded “Once a week or more but not every day.”
  • Face-to-Face Discussions — 44% responded “Every day.”
  • Indoors, Environmentally Controlled — 72% responded “Every day.”
  • Importance of Being Exact or Accurate — 55% responded “Extremely important.”
  • Work With Work Group or Team — 61% responded “Very important.”
  • Structured versus Unstructured Work — 50% responded “Some freedom.”
  • Impact of Decisions on Co-workers or Company Results — 35% responded “Very important results.”
  • Freedom to Make Decisions — 45% responded “Some freedom.”
  • Time Pressure — 40% responded “Once a week or more but not every day.”
  • Contact With Others — 35% responded “Contact with others about half the time.”
  • Frequency of Decision Making — 42% responded “Once a year or more but not every month.”
  • Consequence of Error — 26% responded “Extremely serious.”
  • Letters and Memos — 41% responded “Once a month or more but not every week.”
  • Coordinate or Lead Others — 33% responded “Very important.”
  • Responsibility for Outcomes and Results — 44% responded “Moderate responsibility.”

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Experience Requirements

Job Zone

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, physician assistants, and veterinarians.
SVP Range
(8.0 and above)

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Training & Credentials

State training
Local training
Certifications
State licenses

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Apprenticeship Opportunities

Example apprenticeship titles for this occupation:

  • Risk Consultation

Specific title(s) listed above are vetted by industry and approved by the U.S. Department of Labor for use in a Registered Apprenticeship Program.

Start your career and build your skillset. Visit Apprenticeship.gov external site to learn about opportunities related to this occupation.

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Worker Requirements

Skills

  • 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 Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
  • 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.
  • Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Speaking — Talking to others to convey information effectively.
  • Writing — Communicating effectively in writing as appropriate for the needs of the audience.
  • 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.
  • Persuasion — Persuading others to change their minds or behavior.
  • 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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Knowledge

  • Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

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Education

How much education does a new hire need to perform a job in this occupation? Respondents said:

  • 60%
     
    responded: Master’s degree required
  • 35%
     
    responded: Bachelor’s degree required
  • 5%
     
    responded: Doctoral degree required

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Worker Characteristics

Abilities

  • Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
  • Written Comprehension — The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
  • Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
  • Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Expression — The ability to communicate information and ideas in writing so others will understand.
  • Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • 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).
  • Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
  • 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.
  • 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.
  • Speech Recognition — The ability to identify and understand the speech of another person.
  • 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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Interests

Interest code: IC
Want to discover your interests? Take the O*NET Interest Profiler at My Next Move.
  • Investigative — Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
  • Conventional — Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.

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Work Values

  • 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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Work Styles

  • Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
  • Integrity — Job requires being honest and ethical.
  • Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
  • Persistence — Job requires persistence in the face of obstacles.
  • Initiative — Job requires a willingness to take on responsibilities and challenges.
  • 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.
  • Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
  • Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
  • Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • 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.

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Workforce Characteristics

Wages & Employment Trends

Median wage data for Financial Specialists, All Other.
Employment data for Financial Specialists, All Other.
Industry data for Financial Specialists, All Other.
Median wages (2022)
$35.48 hourly, $73,810 annual
State wages
Local wages
Employment (2022)
136,000 employees
Projected growth (2022-2032)
Faster than average (5% to 8%)
Projected job openings (2022-2032)
9,900
State trends
Top industries (2022)

Source: Bureau of Labor Statistics 2022 wage data external site and 2022-2032 employment projections external site. “Projected growth” represents the estimated change in total employment over the projections period (2022-2032). “Projected job openings” represent openings due to growth and replacement.

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Job Openings on the Web

State job openings
Local job openings

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More Information

Related Occupations

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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.

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