To become a quantitative analyst, you must complete four steps: post-secondary education, relevant work experience, apply for a job, and go through the job interview process. A quantitative analyst works with specially designed software programs for the majority of her day. The analyst uses data from financial transactions to calculate risk, pricing, and other values for senior management using numerical and quantitative statistical techniques. This is a role that only exists in the finance or investment industries.
This type of work is most satisfying to people who have an analytical thought process, enjoy working independently, and are comfortable exploring multiple scenarios. Although quantitative analysts are expected to have presentation skills for meetings, an affinity for numbers is a more important skill. Anyone who wants to work as a quantitative analyst needs to be meticulous, disciplined, and focused.
To become a quantitative analyst, you must first complete a post-secondary education program. This position requires a bachelor’s degree in math, statistics, data management, or a related field. The level of theoretical knowledge required to be an effective analyst is typically not provided college programs. A master’s degree in a quantitative field is required for the vast majority of candidates.
A job placement or cooperative education program can help you gain relevant work experience. Students’ research projects give them a chance to practice applying concepts to real-world data and attempting to provide an answer to others. When looking at transactional data, roles in the financial industry such as financial analyst or business analyst can provide useful context.
Make sure to proofread your resume and cover letter for any grammar or spelling errors before applying for a job as a quantitative analyst. Investigate the company to see if you’re interested in doing this kind of research. Within this field, there are numerous possibilities. As the number and complexity of investment vehicles grows, new methods for tracking activity, reducing risk, and identifying new opportunities are required.
Most banks conduct at least two rounds of interviews during the hiring process. The first round is a preliminary interview with the human resources staff. They’ve prepared a standard set of questions and are looking for detailed, succinct answers.
The department head and direct supervisor are interviewed in the second round. Remember that everything you say will be recorded and analyzed. Consider your responses, remain calm, and concentrate on the skills you bring.