A Quantitative Analyst is a person who works in the financial industry to develop statistical and mathematical techniques to measure, study and evaluate financial markets, financial instruments and the behaviour of financial markets. Job roles and responsibilities of a Quantitative Analyst also known as 'Quant' vary from profile to profile. His basic work revolves around the construction and development of mathematical and financial models designed to solve complex problems. Some major responsibilities of a quantitative analyst are analysing and researching the current market strategies and trends to make modelling decisions, testing new analytics program, products and modes, presenting and interpreting data results to clients and senior management, generating requirements documents for coders and software developers, performing coding tasks and daily statistical analyses and collaborating with teams of computer engineers, physicists and mathematicians to develop effective strategies.
The position of the quantitative analyst is financially lucrative and intellectually stimulating. Candidates who are looking for a career as a quantitative analyst should have a good understanding of topics such as financial research, quantitative programming, options pricing and systematic trading.
Check the minimum eligibility criteria for a career as a quantitative analyst below.
Academic Qualification: Candidates who are looking for a career as a quantitative analyst must have mathematics or related subjects such as calculus, statistics, algebra and computer science in high school. Besides this, other criteria for this position are:
Experience: Quantitative analysts work closely with software developers and analysts to analyse the financial model. They should be experienced enough to prepare strategies to improve the financial model. They can also work as an analyst in any financial industry to gain some experience. Besides this, they can also enrol for an internship to get hands-on training.
Skills: An experienced and skilled candidate will be preferred for a career as a quantitative analyst. Candidates need certain skills for this profile which are listed below.
A career as a quantitative analyst can be very challenging. Their job roles vary with the type of industry they are working with. Candidates who have any bachelor's degree can start working as research analysts in any industry. Besides this, there are many job profiles available for a quantitative analyst. Check out some job roles provided below.
Candidates may start working at an investment bank, an insurance company, hedge fund, commercial bank, or management consulting firm. Besides this, many IT companies also hire a quantitative analyst who can analyse their financial model and improve it. Some job areas where a quantitative analyst may apply for a job are listed below.
Some of the major recruiting companies for Quantitative Analysts are listed below.
Salary of a quantitative analyst depends on his skills and experience. An experienced quantitative analyst will earn more as compared to someone who is just starting out. Candidates who are aiming for a successful career in this profession can complete a certification in quant to increase their annual salary. They can check the table given below to know the average salary.
Starting Salary per annum (in INR)
Mid Level Salary per annum (in INR)
Senior Level Salary per annum (INR)
A quantitative analyst handles all the database and discovers strategies to reduce the risk and increase the performance of the organization. He must be well updated with the current market trends and strategies. There are many books available for a quantitative analyst. Some of them are listed below.
Job responsibilities of a Quantitative Analyst will vary depending on the profile. Some job responsibilities of a Quantitative Analyst are maintaining and modifying the existing job model, testing new tools and models and presenting the result of new models to the managers.
Career as a Quantitative Analyst is rewarding both financially and intellectually. Apart from that, there are many job opportunities available for a Quantitative Analyst. You can choose any sector for a job as a Quantitative Analyst as per your interest and skills.
As a Quantitative Analyst will be working with coders and software developers, they should have the knowledge of the coding languages and platforms. Most of the companies work with CC+, python and JAVA language.
Quantitative analysts are mainly hired by financial companies and commercial banks. Some of the major recruiters are Bajaj Finance Limited, Mahindra & Mahindra Financial Services Limited, Muthoot Finance Ltd and HDB Finance Services.
The average salary of a Quantitative Analyst will depend on the type of industry you are working in. You can expect an average salary of INR 3-4 lakh per annum if you are new to the industry. There are some companies which might offer you some bonus apart from the average salary.
A Quantitative Analyst should have good analytical, technical and mathematical skills. Apart from this, he must have a good knowledge of financial research and quantitative programming.
He/she can apply at any commercial bank, investment banks, wealth management company, insurance company, management consulting firms, accountancy firms, financial software companies and hedge funds. He/she can also apply at an IT company.
There are many job profiles available for quantitative analysts such as Financial Analyst, Portfolio Manager, Business Analyst, Investment Banking Analyst, Financial Engineer and Quantitative Trader.
You must have completed a bachelor's degree and master's degree in Finance, Statistics, Economics or any Finance-related field to be eligible for this profile. Besides this, some companies also ask for certification in Quantitative Finance.
You can start by earning a bachelor’s degree in any finance-related field and learning important statistical, analytical and mathematical skills. After that, you can apply to the first entry-level quantitative analyst position. If you are aiming for a senior-level position then you should complete your master's degree in finance.
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