Demand for quantitative finance analysts has risen drastically over the past few years. Many companies are hiring trained quantitative analysts (quants) to help them resolve financial and risk management problems to avoid possible crashes. But what do quants do exactly? They use mathematics and statistics to build models to help companies make better-informed financial and business decisions regarding pricing, investment…
Have you ever considered studying in the Quantitative Finance field? Here are some signs a career in Quantitative Finance might be the perfect fit for you.
You are rational and you like to question everything
Many quantitative analysts have a scientific background: physics, mathematics, computer science… They have been trained to solve problems methodically and scientifically which has proven to be very useful when it comes to business decisions. You have great communication skills and you are a math genius. Of course, you need to master mathematics and statistics to be a quant but more than an a analytical mind and number-crunching skills, what you really need to have is good communication skills. You can build a great pricing model but the key is to know how to sell it within your firm. You should be able to convince your boss to put your findings to good use.
You enjoy programming
As a quant, you will have to work with huge databases and complex software to create your mathematical models. You will have to master programming languages such as C++, Java, Python, SQL…You will also work with statistical analysis software like Matlab or SAS and of course you need to be an Excel wiz.
You want to have a high salary
It’s not a secret that a career in finance can be very lucrative. Salaries tend to be high, with most available jobs in major financial centers like Paris, London, New York or Hong Kong. The average pay for a quant is US$111,071 in New York, £65,975 (US$93,681) in London and €65,000 (US$80,295) in Paris.
So, convinced that quant is your dream job? How to reach your career ambition?
Start with a undergraduate degree, ideally in business or even better in engineering, math or finance to have solid foundations in mathematics, programming and probability. Then pursue a specialised master’s in quantitative finance and get some experience in trading or business to strengthen your expertise. After that, you can break off into pure quantitative analysis to get your dream job.
Want to kickstart your career in finance? Join the 2019 MSc in Finance intake.