How to Get Clarity on Your Career Options in Quantitative Finance

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How to Get Clarity on Your Career Options in Quantitative Finance

Those considering a career in quantitative finance will know that there is a great demand for quants.

The quantitative finance community intersects with many aspects of the investment landscape with quants working in investment banks, asset managers, hedge funds, prop trading firms, insurance companies, technology firms, and consultancies. With the increasing interest in data science and machine learning, and the advancement of areas such as quantum computing and FinTech, there are now new fields drawing on quant talent.

Recruiters who specialize in placing people with quantitative finance skills state that quants were in high demand throughout 2021 and expect these strong hiring trends to continue in the coming years. It is a candidates’ job market right now meaning those thinking of starting or progressing within quantitative finance can explore a wide range of career opportunities.

The recently published The CQF Careers Guide to Quantitative Finance (produced by the CQF Institute), highlights the six main career paths a quant could follow: data science and machine learning, portfolio management, risk management, quant strategies and research, technology, and quant trading.

This Guide offers a detailed breakdown of each career path, describing the skills needed, typical roles and responsibilities, and average salary you can earn in the US, Europe, and Asia. The Guide also looks towards the future and offers a perspective on how quants can prepare for the job opportunities and industry changes that lie ahead.

CQF Institute Managing Director, Dr. Randeep Gug, said, "The CQF Careers Guide provides insights on career paths for quants in the most active and exciting areas of the financial markets. We have designed the Guide to help anyone who is evaluating their current skill set or considering entering the field of quantitative finance."

Evolving skills for quants

As new career opportunities emerge in response to the technological change abounding in the industry, it is important that quants in today’s markets have the skills needed to meet these new demands.

According to The CQF Careers Guide to Quantitative Finance, 92% of finance professionals state that the skills needed by quants will need to change in the near future in order for them to meet the demands of the changing financial and technological landscapes. Many believe that data science and machine learning will be one of the biggest drivers of quant career opportunities. Advancements in areas like this, will require quants to enhance their skills in the essential domains of math, finance, and programming.

In the Guide, one recruiter states, “In terms of the evolution of quant skills, data science and machine learning and Python are getting a lot of attention now. […] The core mathematical skills are also one of the biggest drivers for quant hiring and something that we see across the board.”

Investing in your career

To keep up with the changing skills required for a career in quantitative finance, further education is a wise investment to attain professional goals and achieve career success.

The Certificate in Quantitative Finance (CQF) is the world’s largest professional qualification in quant finance. Awarded by the CQF Institute, the program is delivered online, part-time, over six months and teaches the essential quantitative finance and machine learning techniques used by practitioners. The syllabus is updated quarterly to meet industry demand and alumni have permanent access to the Lifelong Learning library to keep their skills competitive throughout their careers. 

Explore the Careers Guide

The CQF Careers Guide to Quantitative Finance was produced by the CQF Institute for people seeking insights into careers in quantitative finance. It is designed to help people navigate and understand the different options available and the skills needed. The Guide examines the quant finance landscape through the lens of recruiters, CQF Institute members, and CQF alumni, who offer their stories and survey responses to develop a comprehensive picture of quant career opportunities today.

To gain the insights you need to take the next step in your quantitative finance career, download The CQF Careers Guide to Quantitative Finance today.

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