The past few years have seen turbulent times for the global financial markets. Challenges include the COVID-19 pandemic, the war in the Ukraine, pressure on energy supplies in Europe, and rising inflation which has driven some central banks to raise interest rates dramatically. Throughout this period, quants have played an important role in shaping investing and hedging strategies to meet investors’ needs. In creating the CQF Careers Guide to Quantitative Finance 2023, we spoke to a number of recruiters who all stated that last year saw an increased demand for quants across the industry. Looking ahead, this demand is expected to continue across many functions within financial services.
Produced by the CQF Institute, the CQF Careers Guide to Quantitative Finance 2023 explores this increasing demand for quant skills and presents the typical roles and general salary ranges quants can currently earn in America, Asia, and Europe across six career paths:
- Portfolio Management
- Risk Management
- Quant Strategies and Research
- Data Science and Machine Learning
- Quant Trading
For each of these paths, CQF alumni share further insights by describing a typical working day in their role from the moment they get to the office to the time they return home. This Guide features a typical working day for a Portfolio Manager, Market and Liquidity Risk Manager, Quant Advisor, Lead Data Scientist, Quant Developer, and a Quantitative Equity Trader.
The Guide also looks towards the future – according to a poll conducted at the Quant Insights Conference in November 2022, approximately 62% of respondents indicated that Data Science and Machine Learning would offer the greatest increase in career opportunities in 2023. An additional 17% felt that the greatest increase would come from quantum computing. For each of these areas, the Guide explores how these fields are becoming more prominent in the industry, the changing skills needed to succeed in these areas, and the new career opportunities that are starting to emerge as a result.
Reflecting on the release on the new Guide, Dr. Randeep Gug, Managing Director of the CQF and CQF Institute stated: “ As we celebrate the 20th Anniversary of the CQF program, we are delighted to present the CQF Careers Guide to Quantitative Finance 2023 to support your journey through the world of quant finance, with real-world alumni stories to showcase the various roles within the field and guidance on how you can gain the skills you need for a successful career in the future.”
Find out more about careers in quantitative finance today. Download the full CQF Careers Guide here.
About the CQF
The Certificate in Quantitative Finance (CQF) is awarded by the CQF Institute and delivered online by Fitch Learning. The program is focused on teaching the essential skills used by quant practitioners in today’s financial markets. The curriculum is updated quarterly in consultation with faculty and senior alumni to ensure that the skills taught in the program are meeting industry demand. Following their graduation, all CQF alumni are given permanent access to the CQF Lifelong Learning library to help them keep their skills competitive throughout their careers. They also have access to the alumni Career Services, which includes regular job posting communications, CV advice, and more.