Quantitative Developers: The Programmers of Wall Street

These special developers make an average of $154,211 a year

If you are looking for a career in a lucrative and interesting job, then you may want to take a look at a little known field called Quantitative Development. People in this field are called Quants or Quantitative Developers and make an average of about $154,211 USD a year as of Feb. 2021 according to Zip Recruiter. Out of the nation, the state that pays the most (above the average) for these developers is California.

Quantitative developers (also known as quants) are programmers who write code and develops trading infrastructure usually for investment banks. They create software that uses statistical techniques and different technologies to solve complex and challenging problems in finance like creating financial models, and forecasts. They are coders with a mix of knowledge in computer science, finance, applied mathematics, statistical modeling, and scientific computing.

What Do Quantitative Developers Do ?

A quantitative developer creates and tests financial models and forecasts, they validate and document the performance of financial models, they analyze the performance results, and they report on the data to traders, and financial engineers. They basically develop trading strategies using programming and mostly work at either an investment bank, a hedge fund, a brokerage firm or a financial securities firm.

What Knowledge Do You Need To Become A Quantitative Developer ?

To become a quantitative developer it is good to have thorough knowledge in the following:

  1. Applied Mathematics: Applied mathematics is the application of mathematical methods.
  2. Statistical Models: A statistical model is a mathematical model that embodies a set of statistical assumptions concerning the generation of sample data (and similar data from a larger population).
  3. Algorithms: An algorithm is simply a set of instructions to execute some goal.
  4. Scientific Computing: It is mainly the idea of development of mathematical models, use of quantitative analysis techniques, and use of computers for solving scientific problems.
  5. Software Engineering: Software engineers are computer science professionals who use knowledge of engineering principles and programming languages to build software products, develop computer games, and run network control systems.
  6. Database Interactions: A database action is performed to retrieve data from a database or to manipulate data stored in a database.

How To Become A Quantitative Developer ?

According to Zip Recruiter, for a career as a quantitative developer, you need a solid background in computer programming. The qualifications vary by employer, but you need at least a bachelor’s degree in computer science or a similar field. A master’s degree is better to hone the needed skills for a job as a quantitative developer. You must have experience with programming languages like Python, C++, C#, and Java, which are common in financial software and algorithmic trading. Although much of your work requires you to sit in front of a computer, you must also collaborate with financial engineers and other IT colleagues. — Zip Recruiter

So What’s The Difference Between An Algorithmic Trader And A Quantitative Developer ?

An algorithmic trader is the one who executes the trading strategies after analyzing the market, a quant developer is the one behind all the programming of the algorithms. -Quantinsti

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Sources:

Self-Study Plan for Becoming a Quantitative Developer | QuantStart. (n.d.). QuantStart.com. Retrieved January 25, 2021, from Https://Www.Quantstart.Com/Articles/Self-Study-Plan-for-Becoming-a-Quantitative-Developer/.

Thakar. (2020, October 28). How to Become a Quantitative Developer?. Blog. Quantinsti.com Retrieved February 1, 2021 from Https://Blog.Quantinsti.Com/Quantitative-Developer/.

Quantitative Developer Salary (2021, February 1). ZipRecruiter.com. Retrieved February 1, 2021, from Https://Www.Ziprecruiter.Com/Salaries/Quantitative-Developer-Salary#:~:Text=As%20of%20Jan%2028%2C%202021,%2Fweek%20or%20%2412%2C851%2Fmonth.

How To Become A Quantitative -Developer. (n.d.). ZipRecruiter.Com. Retrieved February 1, 2021, from https://www.ziprecruiter.com/e/How-to-Become-a-Quantitative-Developer#:~:text=For%20a%20career%20as%20a,job%20as%20a%20quantitative%20developer.

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