To become a quantitative analyst, one must have post-secondary education, related work experience, apply for a job, and complete the interview process. The job involves using software programs and statistical techniques to calculate risks and prices in the financial sector. Analytical individuals with an affinity for numbers and attention to detail are best suited for the role. A master’s degree in a quantitative field is preferred, and internships or co-op programs provide valuable experience. During the job interview process, there are typically two rounds of interviews with HR and department heads.
There are four steps required to become a quantitative analyst: post-secondary training, related work experience, applying for a job, and completing the job interview process. A quantitative analyst spends most of her day working with specially designed software programs. Using financial transaction data, the analyst applies numerical and quantitative statistical techniques to calculate risks, prices and other values for senior management. This role is unique to the financial or investment sector.
People who have an analytical thought process, enjoy working independently, and are comfortable exploring multiple scenarios find the most satisfaction in this type of work. While quantitative analysts are expected to possess meeting presentation skills, the most important skill to have is an affinity for numbers. Attention to detail, discipline and focus are essential for anyone who wants to become a quantitative analyst.
The first requirement to become a quantitative analyst is to complete a post-secondary education program. University degrees in mathematics, statistics, data management or a related field are suitable for this role. University programs typically do not provide the level of theoretical knowledge needed to be an effective analyst. The vast majority of applicants hold a master’s degree in a quantitative field.
Related work experience is usually gained through an internship or co-op education program. Research projects assigned to students provide a great opportunity to practice applying concepts to real data and try to respond to others. Finance industry roles such as financial analyst or business analyst can provide useful context when examining transactional data.
When applying for a job to become a quantitative analyst, review your resume and cover letter, checking for any grammar or spelling errors. Research the company and determine if you are interested in following this type of analysis. There are a wide range of options available in this field. As the volume and complexity of investment vehicles increases, new methods are needed to track activity, minimize risk and identify new opportunities.
During the job interview process, most banks have at least two rounds of interviews. The first round is with the human resources team and is a preliminary interview. They have a standard list of questions and look for complete and concise answers.
The second round is with the department head and direct supervisor. Remember that everything you say will be noted and reviewed. Think about your answers, stay calm and focus on the skills you bring.
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