Financial engineers (Quant Analyst) are specialists who make use of mathematical formulae, programming and engineering methods in financial theories and analyses market trends to build data-backed financial models.
The primary responsibility of a financial engineer/ Quant Analyst is to have thorough knowledge of financial markets, its volatility and knowledge of financial theories. As a financial engineer/ Quant Analyst, you can associate yourself as an employee of any reputed financial institution or setup your own consultancy or do both.
Quantitative analysts use their mathematical and statistical skills to detect market changes. Advanced knowledge of calculus, engineering and game theory is key; programming skills are essential, particularly in C++. A strong background in modeling with large amounts of data is also mandatory. On a day-to-day basis, quantitative analysts should also be able to analyze trading performance and provide solutions to problems.
Their role can be summarised as below:
Being a quant analyst is a highly lucrative job and is needed at top-tier positions in the financial domain. To pursue careers in quants, the basic prerequisites are as follows:
Source: Reports from the Bureau of Labor Statistics
3 – 10 Lakhs
5 – 8 Lakhs
The degrees at IAQS compliment studies of various financial professional courses like CFA, CAIA and FRM which in turn enable an aspirant to take up Quants related roles. The curriculum has finance based modules which have individualised mapping with the curricula of the aforementioned courses.
Students after their penultimate year have an option to choose their elective of specialisation. The options for specialisation are:
1) Actuarial Science
2) Quantitative Finance.
If an aspirant opts for 2) Quantitative Finance he/she can be prepared to give CFA/FRM Level 1 and Level 2 and CAIA exams in the third year.
However, all professional courses for finance like CFA, FRM, CAIA are more so a distance learning program wherein students have to take exams every 6 months. This system clearly lacks a holistic learning.
To bridge this gap IAQS has built its courses not only to compliment finance based professional courses but also provide an overall platform supporting immersive learning by: