Eureka Program
Introduction to Quantitative Research
Frequently Asked Questions
Program Dates and Location
What is Quantitative Finance?
Quantitative Finance, also known as Mathematical Finance or Financial Engineering, is a field that utilizes mathematical models, statistical techniques, and computational tools to analyze and solve financial problems. This discipline employs mathematical models, statistical techniques, and computational tools to analyze market trends, risk factors, and investment opportunities.
In our dynamic world increasingly centered around data, quantitative research plays a pivotal role not only in finance but also in areas such as computer science and data science. Quantitative techniques use evidence-based and structured frameworks to tackle difficult problems in these areas. Its applications span various realms, encompassing Machine Learning and AI, Software Engineering, Cybersecurity, Data Analysis, Predictive Modeling, A/B Testing, Big Data Analytics, and beyond!
Quantitative Finance Career Options
In today's rapidly evolving world, the demands of different fields are merging to create new opportunities for success. Business, finance, computer science, and data are converging to meet mutual needs, and those who recognize and adapt to this changing landscape are poised to thrive. A degree in Quantitative Analysis is becoming a highly versatile qualification, providing individuals with a wide range of career opportunities in this dynamic landscape. Career opportunities with a Quantitative Finance Degree include:
Quantitative Analyst
Risk Analyst
Asset Management
Actuary
Quantitative Developer
Software Engineer
Data Scientist
Credit Risk Analyst
Financial Machine Learning Engineer
Quantitative Finance Career Opportunities and Salaries
Quantitative Finance careers provide lucrative and rewarding opportunities, consistently placing professionals in this field among the highest-paid in finance. Salary amounts may vary depending on factors such as education, experience, location, and the specific industry or employer, but often these amounts range from mid-six figures to well over a million for seasoned experts in the field.
To establish a presence in financial engineering, seeking internship opportunities is essential, as reported by Business Insider. According to Levels.fyi, a platform that provides information about compensation levels and job roles within various technology companies, the median salary for Quant Interns on Wall Street is $111.00 per hour, with some interns receiving an average monthly pay as high as $22,817.00, with additional benefits.
Highest Paying Firms for Quant Finance Internships (Source: Levels.fyi)